Which came closer to its stated multiple, NVOC or NVOX?

Over the window to Sep 11, 2026, NVOC finished 2.2 points from what its multiple implies and NVOX finished 7.9 points from its own, so NVOC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are NVOC and NVOX levered on the same thing?

Yes. Both are levered on NVO, NVOC at +2 times and NVOX at +2 times the daily move.

Which one decays faster, NVOC or NVOX?

Decay follows how much the underlying moves about. Over this window NVOC’s moved at 31% annualized and NVOX’s at 37%, so NVOX has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold NVOC or NVOX 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.

ETFIQetfiq.com · independent ETF data

Data as of Sep 11, 2026.

NVOC vs NVOX: which held to its multiple?

Over the days both have traded, NVOC finished 2.2 points from its stated multiple and NVOX 2.3.

Corgi NVO 2x Daily ETF and Defiance Daily Target 2X Long NVO ETF, side by side, leveraged ETFs on ETFIQ.

−25.1%NVOC returned, 3 months

−9.1%NVOX returned, 3 months

−2.9 ptsNVOC from its stated multiple

−7.9 ptsNVOX from its stated multiple

NVOC2.3 pts short of its label · 1 month to Sep 11, 2026

NVOX7.9 pts short of its label · 3 months to Sep 11, 2026

Performance, window by window

NVOC and NVOX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ.
Window	Total return		Multiple would give		Difference
Window	NVOC	NVOX	NVOC	NVOX	NVOC	NVOX
1 month	−14.2%	−14.2%	−11.9%	−11.9%	−2.3 pts	−2.3 pts
3 months	not published	−9.1%	not published	−1.2%	not published	−7.9 pts
6 months	not published	+19.0%	not published	+37.8%	not published	−18.8 pts
1 year	not published	−55.0%	not published	−33.8%	not published	−21.2 pts
Since launch	−25.1%	−92.3%	−22.2%	−115.1%	−2.9 pts	+22.8 pts

Open the live comparison on ETFIQ

NVOC and NVOX on the same fields, as of Sep 11, 2026. Source: ETFIQ.
	NVOC Corgi NVO 2x Daily ETF Aims to return twice the daily move of NVO	NVOX Defiance Daily Target 2X Long NVO ETF Aims to return twice the daily move of NVO
Issuer	Corgi	Defiance
Sets out to return	+2x	+2x
On	NVO	NVO
Segment	company	company
Fund returned, 3 months	−14.2%	−9.1%
Underlying returned, 3 months	−6.0%	−0.6%
What the stated multiple implies, 3 months	−11.9%	−1.2%
Difference from stated, 3 months	−2.3 pts	−7.9 pts
Fund returned, 1 year or since launch	−25.1%	−55.0%
Difference from stated, over that window	−2.9 pts	−21.2 pts
Underlying volatility	31%	37%
Difference over the days both have traded	−2.3 pts	−2.3 pts
Expense ratio	not published	1.31%
Launched	Jul 14, 2026	Dec 3, 2024

NVOC in plain words

One month to Sep 11, 2026: NVOC returned −14.2% where its own daily promise gave −12.3%, 1.9 points short. Read the multiple against the whole window instead and +2 times NVO's −6.0% implies −11.9%, which makes NVOC look 2.2 points short. 0.3 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. NVOC aims to return +2 times NVO'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. NVO moved at 31% 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.

NVOX in plain words

Three months to Sep 11, 2026: NVOX returned −9.1% where its own daily promise gave −4.5%, 4.6 points short. Read the multiple against the whole window instead and +2 times NVO's −0.6% implies −1.2%, which makes NVOX look 7.9 points short. 3.4 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. NVOX aims to return +2 times NVO's move each day, then resets. NVO moved at 37% annualized over that window.

Questions people ask

Which came closer to its stated multiple, NVOC or NVOX?: Over the window to Sep 11, 2026, NVOC finished 2.2 points from what its multiple implies and NVOX finished 7.9 points from its own, so NVOC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are NVOC and NVOX levered on the same thing?: Yes. Both are levered on NVO, NVOC at +2 times and NVOX at +2 times the daily move.
Which one decays faster, NVOC or NVOX?: Decay follows how much the underlying moves about. Over this window NVOC’s moved at 31% annualized and NVOX’s at 37%, so NVOX has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold NVOC or NVOX 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.

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.

NVOC against NVOX, 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, NVOC against NVOX, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/NVOC-NVOX Free to use with attribution; the underlying files are at Open data.

How every figure is computed · Standards and sources