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SPCF

GradeBNew York Stock Exchange Arca

ProShares - Ultra SpaceX

Leveraged · Single-Stock Leveraged · ProShares · Inception 2026-06-12

This 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.

$16.41−1.36 (−7.65%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Jun 15, 2026.History starts Jun 15, 2026.History starts Jun 15, 2026.
Intraday session: down, 58 prints from 17.77 to 16.41. Range 16.41 to 17.55. Use the arrow keys to read each point.$16.75$17.00$17.25$17.5010 AM12 PM2 PM4 PM
Expense ratio
1.04%
Fund size
$97M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
2.9M sh
NAV per share
$17.34
52W range
low $8.85high $46.71

The ETF.net SPCF Grade

B

58/ 100

Rank 3 of 12 in 2x Long SpaceX⁠

Confidence Medium

Six-pillar profile for SPCF. Scores out of 100: Cost 62, Risk 31, Mission not scored, Tradability 73, Holdings not scored, Durability 76. Strongest: Durability (76). Weakest: Risk (31). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 58 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 62
    Category rank5/12 · top 42%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 31
    Category rank9/11 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 73
    Category rank4/12 · top 33%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 76
    Category rank1/12 · top 8%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on SPCF

ETF.net Research

BWhen SpaceX hit the Nasdaq, a pile of leveraged ETFs hit with it. SPCF is the incumbent's entry: ProShares, the shop that built the geared-fund business, targeting twice SpaceX's daily move.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to twice the daily performance of SpaceX common stock.

Why people hold it

  1. 01The mechanism is plain: twice the daily move of SpaceX stock, before fees and expenses, in one exchange-traded ticker instead of a margin account or an options chain.proshares.com
  2. 02ProShares calls itself the world's leader in geared investing, and SPCF was trading the same week SpaceX's shares debuted on Nasdaq, not months later.businesswire.com
  3. 03The 1.04% fee is the median for the 2x SpaceX crowd, and the fund is actively traded, which matters most when your holding period is a single session.

Worth knowing

  1. 01The 2x target resets daily. Over longer stretches, a choppy path can leave returns well short of twice SpaceX's move, even if the stock finishes higher.proshares.com
  2. 02Cheaper versions of the same daily 2x SpaceX exposure exist: SPCH charges 0.75% and LOFF 0.99%, per their own fee schedules.
  3. 03Fund and underlying stock both launched in 2026, so there is little history on how this behaves in a real drawdown. Single-stock leverage moves hard in both directions.etfdb.com

SPCF Holdings

As of Sep 20, 2026, 6:50 AM
Asset class
Stocks
Holdings
—
Top-10 weight
100%
Largest holding
Net Other Assets (Liabilities)100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Net Other Assets (Liabilities)100.00%97,096,289$97M162

Showing 1–1 of 1 holdings

SPCF Performance

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

SPCF$8,319
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. SPCF $8,319. SPY $10,415. Use the arrow keys to read each point.$3,802$8,209$12,616Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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 SPCF. Periods over one year show the average yearly return.
PeriodSPCF
Year to dateFund launched this year—
1 month+24.0%
3 months−16.8%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per 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 SPCF
YearReturn barSPCF
2026 YTD−49.0%

History from Jun 15, 2026

SPCF in the news

ETF.net Research hasn’t filed on SPCF yet — coverage lands here as it’s written.

SPCF Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Jun 2026. No distributions yet.

SPCF 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 Jun 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 Jun 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 Jun 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.

SPCF Cost

Expense ratio1.04%
  • The middle half of 2x Long SpaceX funds
  • Median 1.02%

4 of the 8 2x Long SpaceX funds charge less.

SPCF costs $104.00 a year on $10,000. The median 2x Long SpaceX fund costs $101.50.