Filings Digest
Two Research Affiliates ETFs will charge more, and Anthropic funds are effective but not trading
ProShares Ultra FTSE China 50
CThis 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.
The ETF.net XPP Grade
C
Score 46 out of 100
- 32 of 99
Score 46 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.
Cost
The fund’s net expense ratio, ranked against its category.C51 out of 100Rank 32 of 99Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D36 out of 100Rank 72 of 98Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C43 out of 100Rank 61 of 99Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B61 out of 100Rank 35 of 99
Our read on XPP
In short
CThe 2x dial on China's Hong Kong blue chips: the 50 biggest HK-listed Chinese names, doubled daily. ProShares calls it the only ETF targeting 2x that index. Fee is 0.95% net of a waiver through September 30, 2027.
Stated mandate
The fund seeks daily results, before fees and expenses, equal to two times the daily performance of the FTSE China 50 Index.
Why people hold it
Worth knowing
XPP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
XPP$6,555
Returns run to the Oct 30, 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.
| Period | XPP |
|---|---|
| Year to date | −30.3% |
| 1 month | −6.4% |
| 3 months | −19.6% |
| 1 year | −34.4% |
| 3 years | +8.5% |
| 5 years | −17.6% |
| 10 years | −8.5% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | XPP |
|---|---|---|
| 2026 YTD | −30.3% | |
| 2025 | +45.8% | |
| 2024 | +38.2% | |
| 2023 | −34.7% |
XPP in the news
XPP Dividends
- 3.23%
- $0.58
- $0.16 per share
- Quarterly
XPP 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.
- 44.1%
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.
- 0.28
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.
- −80.4%
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.
- 0.62
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
XPP Cost
Overpaying vs WX, cheapest in Leveraged Long (2x & Other)
$13,714
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
XPP 0.95%
$17,869
WX 0.20% Cheapest
$4,155
Cost over time
Year by year
| Year | XPP | WX | Overpaying |
|---|---|---|---|
| 10 | $1,678 | $365 | $1,313 |
| 20 | $6,322 | $1,421 | $4,901 |
| 30 | $17,869 | $4,155 | $13,714 |
You pay 0.95%Waived by ProShares 0.54%
Full fee 1.49% waiver 0.54% you pay 0.95%
Other funds in Leveraged Long (2x & Other)
- CMQQQTradr 2X Long Innovation 100 Monthly ETFExpense ratio 1.03%1 year return +8.0%
- CWXETTeucrium 2x Daily Wheat ETFExpense ratio 0.95%1 year return −3.2%
- CAIBUDirexion Daily AI and Big Data Bull 2X ETFExpense ratio 0.96%1 year return −5.8%
- CFNGGDirexion Daily NYSE FANG+ Bull 2X ETFExpense ratio 0.97%1 year return −2.9%
- CGLDWRoundhill Gold WeeklyPay ETFExpense ratio 0.99%1 year return −8.8%
