KPDD +2x KraneShares 2x Long PDD Daily ETF

KPDD

ETF +2x BULL standard
KraneShares 2x Long PDD Daily ETF
Issuer: KraneShares · Tracks: PDD · Listed: 2025-03-07
Implied AUM
$21.2M
Last Close
$5.76
20260720
30d Avg Vol
242,667
Options
available
Realized return vs theoretical +2x PDD
Other leveraged products tracking PDD
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
PDDL +2x BULL GraniteShares GraniteShares 2x Long PDD Daily ETF $10.5M 34,759

How KPDD works

KPDD targets +2x the daily return of PDD — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on KPDD carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.