QCMU +2x Direxion Daily QCOM Bull 2X ETF

QCMU

ETF +2x BULL standard
Direxion Daily QCOM Bull 2X ETF
Issuer: Direxion · Tracks: QCOM · Listed: 2025-06-24
Implied AUM
$26.8M
Last Close
$20.59
20260720
30d Avg Vol
256,801
Options
—
Realized return vs theoretical +2x QCOM
Other leveraged products tracking QCOM
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
QCML +2x BULL GraniteShares GraniteShares 2x Long QCOM Daily ETF $66.0M 1,782,011

How QCMU works

QCMU targets +2x the daily return of QCOM — 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 QCMU 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.