$XL2CSOPHYNIX(07709.HK)$XL2CSOPSMSN(07747.HK) I've looked up some information and will try to explain:
Leveraged ETFs mainly rely on swap contracts to track the underlying. Simply put, they are just for reference, not linearly synchronized. If the volume is sufficient, even those underwater can be pulled up.
Compounding decay, exchange rate differences, time differences, premiums, and management fees are all involved. However, the premium is obviously too high now, and it's not recommended to hold overnight.
Not investment advice.
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