A target for each day
A 2× leveraged product aims for about twice its benchmark’s move on a single trading day, before fees and tracking differences. A −1× inverse product aims to move in the opposite direction for that day.
For example, if the benchmark rises 1% in a day, a 2× product aims to rise about 2%, while a −1× product aims to fall about 1%.
What happens over several days
Daily returns compound. After several days, the product’s total return can differ from two times—or the opposite of—the benchmark’s return over the same period. Volatile markets can make the difference larger.
Compare the stated multiple, benchmark, and trust fee in the leveraged and inverse ETF lists. Read the issuer’s product materials before trading.