Which came closer to its stated multiple, DRAL or RAMZ?

Over the window to Sep 11, 2026, DRAL finished 5.7 points from what its multiple implies and RAMZ finished 5.4 points from its own, so RAMZ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are DRAL and RAMZ levered on the same thing?

Yes. Both are levered on DRAM, DRAL at +2 times and RAMZ at -2 times the daily move.

Which one decays faster, DRAL or RAMZ?

Decay follows how much the underlying moves about. Over this window DRAL’s moved at 58% annualized and RAMZ’s at 58%, so DRAL has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold DRAL or RAMZ for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Which is cheaper, DRAL or RAMZ?

DRAL charges 1.31% a year and RAMZ charges 1.50%, so DRAL is cheaper. Fees come from each fund's prospectus.

ETFIQetfiq.com · independent ETF data

Data as of Sep 11, 2026.

DRAL vs RAMZ: which held to its multiple?

Over a month against its own daily promise, DRAL finished 2.9 points short and RAMZ 0.1 points short.

Defiance Daily Target 2X Long DRAM ETF and T-REX 2X INVERSE DRAM DAILY TARGET ETF, side by side, leveraged ETFs on ETFIQ.

−45.5%DRAL returned, 3 months

−49.0%RAMZ returned, 3 months

−9.8 ptsDRAL from its stated multiple

−1.6 ptsRAMZ from its stated multiple

DRAL5.7 pts short of its label · 1 month to Sep 11, 2026

RAMZ5.4 pts short of its label · 1 month to Sep 11, 2026

Performance, window by window

DRAL and RAMZ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ.
Window	Total return		Multiple would give		Difference
Window	DRAL	RAMZ	DRAL	RAMZ	DRAL	RAMZ
1 month	+10.1%	−21.1%	+15.7%	−15.7%	−5.7 pts	−5.4 pts
Since launch	−45.5%	−49.0%	−35.7%	−47.4%	−9.8 pts	−1.6 pts

Open the live comparison on ETFIQ

DRAL and RAMZ on the same fields, as of Sep 11, 2026. Source: ETFIQ.
	DRAL Defiance Daily Target 2X Long DRAM ETF Aims to return twice the daily move of DRAM	RAMZ T-REX 2X INVERSE DRAM DAILY TARGET ETF Aims to return twice the opposite of the daily move of DRAM
Issuer	Defiance	T-REX
Sets out to return	+2x	-2x
On	DRAM	DRAM
Segment	sector	sector
Fund returned, 3 months	+10.1%	−21.1%
Underlying returned, 3 months	+7.8%	+7.8%
What the stated multiple implies, 3 months	+15.7%	−15.7%
Difference from stated, 3 months	−5.7 pts	−5.4 pts
Fund returned, 1 year or since launch	−45.5%	−49.0%
Difference from stated, over that window	−9.8 pts	−1.6 pts
Underlying volatility	58%	58%
Difference over the days both have traded	−5.7 pts	no shared window
Expense ratio	1.31%	1.50%
Launched	Jun 29, 2026	Jul 28, 2026

DRAL in plain words

One month to Sep 11, 2026: DRAL returned +10.1% where its own daily promise gave +12.9%, 2.9 points short. Read the multiple against the whole window instead and +2 times DRAM's 7.8% implies +15.7%, which makes DRAL look 5.7 points short. 2.8 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. DRAL aims to return +2 times DRAM's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. DRAM moved at 58% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

RAMZ in plain words

One month to Sep 11, 2026: RAMZ returned −21.1% where its own daily promise gave −21.1%, 0.1 points short. Read the multiple against the whole window instead and −2 times DRAM's 7.8% implies −15.7%, which makes RAMZ look 5.4 points short. 5.4 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. RAMZ aims to return -2 times DRAM's move each day, then resets. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.

Questions people ask

Which came closer to its stated multiple, DRAL or RAMZ?: Over the window to Sep 11, 2026, DRAL finished 5.7 points from what its multiple implies and RAMZ finished 5.4 points from its own, so RAMZ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are DRAL and RAMZ levered on the same thing?: Yes. Both are levered on DRAM, DRAL at +2 times and RAMZ at -2 times the daily move.
Which one decays faster, DRAL or RAMZ?: Decay follows how much the underlying moves about. Over this window DRAL’s moved at 58% annualized and RAMZ’s at 58%, so DRAL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold DRAL or RAMZ for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, DRAL or RAMZ?: DRAL charges 1.31% a year and RAMZ charges 1.50%, so DRAL is cheaper. Fees come from each fund's prospectus.

Other comparisons

Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

DRAL against RAMZ, ETFIQ, data as of Sep 11, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. A comparison is not a recommendation.

Cite this page. ETFIQ, DRAL against RAMZ, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/DRAL-RAMZ Free to use with attribution; the underlying files are at Open data.

How every figure is computed · Standards and sources