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Launched

Direxion Daily Ether Bull 2X ETF

EVMUNYSE ArcaCThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$30.67−0.41 (−1.31%)

As of Oct 13, 2026, 3:37 PM

C40/ 100

Rank 8 of 15 in 2x Long Crypto

C40/100Rank 8 of 15in2x Long Crypto
Intraday session: down, 7 prints from 31.08 to 30.67. Range 30.67 to 31.08. Use the arrow keys to read each point.30.8030.9031.0010 AM12 PM2 PM4 PM
Expense ratio
1.05%
Fund size
$2M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
9
Avg volume · 30D
0M sh
NAV per share
$30.03
52W range
low $13.19high $38.32
Launched

The ETF.net EVMU Grade

Based on 4 of 6 pillars

C

Score 40 out of 100

Category
2x Long Crypto⁠
Rank
8 of 15
Six-pillar profile for EVMU. Scores out of 100: Cost 79, Risk 85, Mission not scored, Tradability 16, Holdings not scored, Durability 24. Strongest: Risk (85). Weakest: Tradability (16). Based on 4 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
61
This cap took
−21
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A79 out of 100
    Rank 4 of 15

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A85 out of 100
    Rank 2 of 15

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F16 out of 100
    Rank 14 of 15

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F24 out of 100
    Rank 12 of 15

Our read on EVMU

ETF.net Research

CA 2X ether trade that skips the futures market: EVMU uses swaps tied to a spot ether ETP, resets its leverage every day, and charges well under the typical leveraged crypto fund. Built for day-scale trades, not the back of a drawer.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 200% of ether's price performance.

Why people hold it

  1. 01Targets 200% of ether's daily price move via swaps on a spot ether ETP (the iShares Ethereum Trust, ETHA), so there are no ether futures contracts to roll each month.direxion.com
  2. 02At 1.05% a year, the fee lands well below the 1.89% median for leveraged bull crypto funds.
  3. 03A 1940 Act fund that trades from a normal brokerage account: no wallet, no crypto exchange login, no private keys.direxion.com

Worth knowing

  1. 01Leverage resets daily. Hold longer than a day and results can differ materially from 2X ether over that stretch, especially after volatile swings.direxion.com
  2. 02Young (launched 2026) and thinly traded, which can mean wider bid-ask spreads than the cohort's established names like BITU and ETHT.
  3. 03EVMU does not hold ether itself. Its exposure comes from cash-settled swap agreements, so counterparty terms and swap financing costs sit between you and the coin.sec.govdirexion.com

EVMU Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
9
Top-10 weight
100%
Largest holding
Goldman Finl Sq Trsry Inst 50618.9%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Goldman Finl Sq Trsry Inst 50618.88%1,285,288$1M98
002—Etha Swap Asset Leg (Ethactl)18.17%22,089$1M1
003—Etha Swap Asset Leg (Ethajpl)17.43%21,188$1M1
004—Etha Swap Asset Leg (Ethagsl)16.67%20,264$1M1
005—Etha Swap Asset Leg (Ethamll)12.04%14,637$820K1
006—Dreyfus Govt Cash Man Ins7.81%531,935$532K108
007—Dreyfus Trsry Securities Cash Mgmt6.40%435,784$436K84
008—Recv Etha Asset Swap1.87%2,274$127K1
009—Goldman Sachs Fin Gov 465 Institut0.73%50,000$50K76

Showing 1–9 of 9 holdings

EVMU Performance

Launched May 27, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
EVMU$17,993
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. EVMU $17,993. SPY $10,332. Use the arrow keys to read each point.$8,670$15,862$23,053Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for EVMU. Periods over one year show the average yearly return.
PeriodEVMU
Year to dateFund launched this year—
1 month−4.4%
3 months+79.9%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for EVMU
YearReturn barEVMU
2026 YTD+27.5%

Since listing, May 27, 2026

EVMU in the news

Filtered to EVMU · 2x Long Crypto

EVMU Dividends

Last payment
$0.21 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Jun 23, 2026 $0.05; Sep 22, 2026 $0.21. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.21
Jun 23, 2026Jun 30, 2026$0.05

EVMU Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched May 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched May 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched May 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.00
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

EVMU Cost

Expense ratio1.05%
  • The middle half of 2x Long Crypto funds
  • Median 1.89%

3 of the 14 2x Long Crypto funds charge less.

EVMU costs $105.00 a year on $10,000. The median 2x Long Crypto fund costs $189.00.

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