# The inverse ETFs furthest below their multiple

> AAOZ leads the inverse ETFs furthest below their multiple at −81.5 pts (difference, three months), as of Oct 27, 2026. A ranking is not a recommendation.

Data as of Oct 27, 2026. Rebuilt every trading night.

As of Oct 27, 2026 . Rebuilt every trading night.

## The inverse ETFs furthest below their multiple

See 15 funds ranked by the fund’s return minus its multiple of the underlying’s move, three months. Updated Oct 27, 2026. An inverse fund held through a rising market loses on the trade and again on the reset. Both are in the difference column.

| # | Ticker | Fund | Issuer | Says | Underlying asset | Underlying did | Fund returned | Multiple of that move | Difference |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1 | AAOZ | Tradr 2X Short AAOI Daily ETF | Tradr | -2x | AAOI | −12.7% | −56.1% | +25.4% | −81.5 pts |
| 2 | SMZ | Tradr 2X Short SMR Daily ETF | Tradr | -2x | SMR | −30.7% | −17.8% | +61.4% | −79.2 pts |
| 3 | IREZ | Tradr 2X Short IREN Daily ETF | Tradr | -2x | IREN | −19.1% | −40.2% | +38.2% | −78.4 pts |
| 4 | NBIZ | Tradr 2X Short NBIS Daily ETF | Tradr | -2x | NBIS | +0.5% | −75.9% | −1.0% | −74.9 pts |
| 5 | CORD | T-REX 2X INVERSE CRWV DAILY TARGET ETF | T-REX | -2x | CRWV | −11.5% | −48.4% | +23.0% | −71.4 pts |
| 6 | CBRZ | Tradr 2X Short CBRS Daily ETF | Tradr | -2x | CBRS | −38.1% | +15.6% | +76.2% | −60.6 pts |
| 7 | APLZ | Tradr 2X Short APLD Daily ETF | Tradr | -2x | APLD | −26.7% | −3.5% | +53.4% | −56.9 pts |
| 8 | QBTZ | Defiance Daily Target 2X Short QBTS ETF | Defiance | -2x | QBTS | −31.2% | +12.0% | +62.4% | −50.4 pts |
| 9 | ASTN | Defiance Daily Target 2X Short ASTS ETF | Defiance | -2x | ASTS | −25.8% | +1.6% | +51.6% | −50.0 pts |
| 10 | RGTZ | Defiance Daily Target 2X Short RGTI ETF | Defiance | -2x | RGTI | −14.3% | −20.7% | +28.6% | −49.3 pts |
| 11 | RKLZ | Defiance Daily Target 2X Short RKLB ETF | Defiance | -2x | RKLB | −8.7% | −27.2% | +17.4% | −44.6 pts |
| 12 | IONZ | Defiance Daily Target 2X Short IONQ ETF | Defiance | -2x | IONQ | −2.7% | −38.6% | +5.4% | −44.0 pts |
| 13 | CONI | GraniteShares 2x Short COIN Daily ETF | GraniteShares | -2x | COIN | −4.1% | −30.6% | +8.2% | −38.8 pts |
| 14 | SNDQ | Tradr 2X Short SNDK Daily ETF | Tradr | -2x | SNDK | +19.0% | −67.2% | −38.0% | −29.2 pts |
| 15 | RAMZ | T-REX 2X INVERSE DRAM DAILY TARGET ETF | T-REX | -2x | DRAM | +5.8% | −37.9% | −11.6% | −26.3 pts |

### Method

Inverse funds only, of the 146 ETFIQ measures. A fund that says minus one times returns minus one times the daily move, compounded, which over a quarter is not minus one times the quarter. The list sorts one published number, with no scoring or weighting. Every fund ETFIQ covers in this category is eligible, closed funds included.

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### Sources

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A ranking is not a recommendation or an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, The inverse ETFs furthest below their multiple, ranked by the fund’s return minus its multiple of the underlying’s move, data as of Oct 27, 2026. https://etfiq.com/rankings/leverage-inverse-furthest-from-the-label
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
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