Costs / Decay on a -1x inverse ETF?

🤝 Help
1

Hi, tried searching but to no avail; it might be a simple answer.

Regarding volatility decay on ETF’s:
I fully understand the effects on an ETF if it’s x2 x3 x5 etc…

My question is:
Due to there being no leverage on a -x1 ETF (I assume), is there no vol decay on an -x1 ETF?
I’m playing around with some of these inverse ETFs and just wondered - as an easy way to combat volatility decay, would trading a -x1 ETF be an option?

Take something like XSPS - that mentions still having a daily SWAP, so is this fee incorporated into the price daily, the same as a management fee?

I’m trying to understand fully the decay and costs of holding something like this for longer than a week / month.

XSPS:
https://etf.dws.com/en-gb/LU0490618542-sp-500-swap-ucits-etf-1c/

3

Yes, this was my understanding having dug a little deeper.
Holding it, over time it should have a decay. As for every % drop, it needs a higher % to return back to break even. Plus fees etc daily factored into the price etc…

Only useful for a 1 day basis i’m thinking.

Thanks for sharing your experience.