Aims for twice the daily return of US real estate companies and REITs, using swaps and futures. Because it resets daily, its return over weeks or months can differ a lot from twice that of those companies.
XHOA, the Corgi U.S. Real Estate 2x Daily ETF, is a $0 million ETF whose main story is the refinancing cycle.
The narrative it carries
This is its only narrative.
The refinancing cycle →
Real estate, homebuilders and mortgage REITs: property bought with debt and priced against rates.
The band is where this narrative’s level sits among the 22 this week. QUIET means less talked about, not falling.
| # | ETF | SHARE | ASSETS | 1 YEAR | COST |
|---|---|---|---|---|---|
| 1 | VNQ | 40.2% | $39.29bn | +2.0% | 0.13% |
| 2 | SCHH | 10.8% | $10.56bn | +5.5% | 0.07% |
| 3 | DFAR | 8.3% | $1.65bn | +5.3% | – |
| 4 | XLRE | 7.8% | $7.65bn | +0.8% | 0.08% |
| 5 | USRT | 4.4% | $4.31bn | +8.2% | 0.08% |
| 59 other ETFs | 28.5% |
Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 64 ETFs on the narrative page →
FRI OCT 2MARKET PRICE TOTAL RETURN
| 1M | 3M | YTD | 1Y | 3Y* | 5Y* | |
|---|---|---|---|---|---|---|
| XHOA | −12.6% | −17.9% | – | – | – | – |
| The refinancing cycleits narrative | −5.8% | −8.3% | +4.2% | +2.1% | +10.8% | +1.7% |
| The marketbroad US ETFs | +0.8% | +2.6% | +14.6% | +16.8% | +22.9% | +12.9% |
1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on June 3, 2026: −13.4%.
$10,000 invested June 30, 2026
Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The narrative is the asset-weighted return of the unlevered ETFs that carry it. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.
FRI OCT 2MARKET PRICE TOTAL RETURN
XHOA has traded for less than a year, so how it moves against the market is not shown yet.
Where it sits in The refinancing cycle
Each dot is one of 45 unlevered ETFs whose main narrative is the refinancing cycle, placed by its return (up) and how much it swung (right) over the last year.
Risk
Cost against its peers
XHOA is levered or inverse, so it is shown against the unlevered ETFs but not ranked among them.
How it is built
Seeks 2x the daily return of its exposure. It carries the narrative but does not count toward Share of Narrative, because only unlevered long exposure does.
Narrative exposure
Common questions
What story is XHOA selling?
XHOA’s main story is the refinancing cycle, which covers real estate, homebuilders and mortgage REITs: property bought with debt and priced against rates.
Run an ETF in the refinancing cycle? StoryVector shows issuers where their ETFs stand against the closest rivals, every week.
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