SPCF vs SPCH

SPCFBProShares Ultra SpaceX

SPCHALeverage Shares 2X Long SPCX Daily ETF

In short

SPCF ProShares launched SPCF on the day SpaceX went public: a 2x daily bet on a single newly listed stock, built from swaps plus actual SPCX shares, for 0.95% net of a waiver through September 30, 2027.

SPCH The SpaceX leverage shelf got crowded fast. SPCH was on it from day one, aiming for twice the stock's daily move through swaps, at 0.75% a year, less than most rivals charge.

Stated mandate

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

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

Why people hold it

• SPCF 0.95% net of a waiver through September 30, 2027 (1.04% gross): below the typical 2x SpaceX fee, and under Direxion's LOFF at 0.97% net of a waiver through September 1, 2027.
• Magnifies a bullish SpaceX view without a margin account. ProShares builds the 2x exposure from swap agreements and shares of SPCX itself.proshares.comproshares.com 2
• From the house with the largest leveraged and inverse ETF lineup, and it ranks among the stronger builds in the 2x SpaceX group.proshares.com

• SPCH Costs 0.75% a year, under Direxion's LOFF (0.99%) and ProShares' SPCF (1.04%) for the same 2x daily SpaceX trade.
• Built to start trading with SpaceX's IPO, with its first day of 2x exposure struck off the IPO price. One of the original ways to play the stock at 2x.sec.gov
• Among the busier tickers in the SpaceX leverage group, which matters when the product is designed around single-day holds.leverageshares.com
• Its mirror image, SSPC, runs the same machinery at -2x for the same 0.75% fee, so you can flip direction without changing issuers.leverageshares.com

Worth knowing

• SPCF Exposure resets daily, so over longer stretches compounding can push results far from 2x SpaceX's move. ProShares states the fund seeks its result for a single day only.proshares.comproshares.com 2
• Leverage Shares' SPCH targets the same 2x long SpaceX exposure at 0.75%, with no waiver propping up the number.
• Live only since June 2026, so there is a short record for judging how tightly it hits its daily target.

• SPCH Leverage resets daily. Hold past one day and the result compounds, so it can drift from 2x the stock's move over that stretch.leverageshares.com
• 2x cuts both ways: a hard down day in SpaceX stock lands twice as hard here, and this is a young, volatile stock.sec.gov
• Exposure runs through swaps and options rather than shares, which adds counterparty risk. No distributions so far.leverageshares.com

Full SPCF profile⁠

Full SPCH profile⁠