List of all the Leveraged 2x ETFs
2x leveraged ETFs aim to deliver twice the daily return of an index or asset. They use derivatives and borrowing to do it, which makes them short-term trading tools rather than buy-and-hold investments. The table below covers both long and short funds.
The list includes inverse 2x ETFs too. They aim for roughly twice the opposite of their index's daily move. If the benchmark drops 5%, a -2x fund is built to gain about 10%.
What to know about 2x leveraged ETFs:
- Amplified both ways: a 1% move in the underlying becomes about 2% in the ETF, up or down.
- Daily reset: the leverage resets every day, so returns compound and drift from 2x the index over longer holds.
- Broad coverage: you can find 2x funds across equities, commodities, and currencies.
- Short holding periods: volatility and decay make these best for short-term positions.
The table below lists every 2x leveraged ETF, with its leverage ratio, underlying asset, AUM, expense ratio, and fund family.
Note: For full dataset, please visit our main table. This page shows a pre-filtered view of 2x leveraged ETFs only.
How traders actually use 2x ETFs
Most people who buy a 2x ETF aren't holding it for years. They're taking a short-term view and want more punch than a plain index fund gives them, without opening a margin account or trading options. If you think the Nasdaq pushes higher into an earnings week, a fund like QLD lets you lean into that move with double the daily exposure.
The trade-off is the daily reset. A 2x ETF aims to return twice its index for a single day, then starts over the next morning. In a calm, one-directional run that compounding can actually work in your favor. In a choppy market (down 3%, up 3%, repeat) it quietly bleeds value even when the index finishes roughly flat. Check our volatility drag post for the full picture.
Common 2x ETFs and what they track
| ETF | Tracks (2x daily) | Asset class |
|---|---|---|
| QLD | Nasdaq-100 | US large-cap tech & growth |
| SSO | S&P 500 | US large-cap |
| UWM | Russell 2000 | US small-cap |
| NVDL | NVIDIA (NVDA) | US single stock |
| NUGT | Gold miners | Gold mining equities |
| BITX | Bitcoin | Crypto |
Live AUM, expense ratios and inception dates for each of these sit in the table above.
Where a 2x ETF fits, and what to watch
| If you want to… | A 2x ETF gives you… | But watch… |
|---|---|---|
| Play a short-term directional move | Double the daily exposure with no margin account | Overnight gaps can move against you fast |
| Press a high-conviction trade over a few days | Amplified gains while the trend holds | Losses are magnified just as hard |
| Free up capital vs. holding 2x notional outright | Built-in leverage in a single ticker | Volatility decay if you sit through chop |
Stuck between two of these? Our leveraged ETF comparison tool puts any two funds head-to-head (returns, fees, AUM and the index they each track) so you can see which one actually fits your trade.
Frequently asked questions
How do 2x leveraged ETFs work?
They don't simply hold twice as much stock. The fund gets the extra exposure through derivatives (mostly total-return swaps with banks, plus index futures), so every $1 invested controls about $2 of the index. Managers rebalance that book at the end of each day to reset the 2:1 ratio.
Are 2x leveraged ETFs good for long-term holding?
Usually not. Because the leverage resets every day, returns over weeks or months can drift a long way from a clean “2x the index,” and choppy markets tend to grind the value down. Most issuers describe them as short-term trading tools, not core holdings.
What's the difference between a 2x and a 3x ETF?
A 2x ETF targets twice its index's daily move; a 3x ETF targets three times. The 3x version amplifies gains, losses and decay more aggressively, so it's the more volatile of the two.
Is a 2x inverse ETF the same as shorting the stock?
Not exactly. Both make money when the price falls, but a short sale needs a margin account and borrowed shares and can lose more than you put in. A -2x ETF trades like any other share, caps your loss at what you invested, and resets daily, so over more than a day its return drifts from a simple “twice the drop,” and decay works against you.
Can a 2x leveraged ETF go to zero?
A single session won't wipe one out. The index would have to fall 50% in a day. But sustained drawdowns or long stretches of volatility can erode the price heavily over time, which is why some funds run reverse splits to stay listed.