Which came closer to its stated multiple, AVGX or AVL?

Over the window to Sep 30, 2026, AVGX finished 5.8 points from what its multiple implies and AVL finished 5.3 points from its own, so AVL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are AVGX and AVL levered on the same thing?

Yes. Both are levered on Broadcom, AVGX at +2 times and AVL at +2 times the daily move.

Which one decays faster, AVGX or AVL?

Decay follows how much the underlying moves about. Over this window AVGX’s moved at 39% annualized and AVL’s at 39%, so AVGX has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold AVGX or AVL 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, AVGX or AVL?

AVGX charges 1.31% a year and AVL charges 1.00%, so AVL is cheaper. Fees come from each fund's prospectus.

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AVGX vs AVL: which held to its multiple?

Over the days both have traded, AVGX finished 5.8 points from its stated multiple and AVL 5.3. Defiance Daily Target 2X Long AVGO ETF and Direxion Daily AVGO Bull 2X ETF.

−15.3%

AVGX returned, 3 months

−14.8%

AVL returned, 3 months

−5.8 pts

AVGX from its stated multiple

−5.3 pts

AVL from its stated multiple

AVGX · 3 months to Sep 30, 20265.8 pts short of its stated multiple

AVGX returned −15.3% while 2 times AVGO's move would have been −9.5%

AVL · 3 months to Sep 30, 20265.3 pts short of its stated multiple

AVL returned −14.8% while 2 times AVGO's move would have been −9.5%

ETFIQ Decay Resistance Score · AVL scores higherDid it keep up with its own daily multiple, compounded day by day?

AVGX 50.9

AVL 65

0.1, the lowest in this set99.9, the highest

A percentile among the 470 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	AVGX	AVL	AVGX	AVL	AVGX	AVL
1 month	−11.3%	−11.5%	−10.0%	−10.0%	−1.3 pts	−1.5 pts
3 months	−15.3%	−14.8%	−9.5%	−9.5%	−5.8 pts	−5.3 pts
6 months	+5.4%	+6.9%	+24.8%	+24.8%	−19.5 pts	−17.9 pts
1 year	−19.9%	−17.2%	+14.5%	+14.5%	−34.4 pts	−31.7 pts
Since launch AVGX Aug 2024 · AVL Oct 2024	+101.2%	+76.9%	not meaningful	+184.8%	not meaningful	−107.9 pts

AVGX and AVL over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

AVGX

Defiance Daily Target 2X Long AVGO ETF · Aims to return twice the daily move of Broadcom (AVGO)

AVL

Direxion Daily AVGO Bull 2X ETF · Aims to return twice the daily move of Broadcom (AVGO)

Issuer Defiance Direxion

Sets out to return +2x +2x

Underlying asset AVGO AVGO

Segment company company

Fund returned, 3 months or since launch −15.3% −14.8%

Underlying returned, over that window −4.7% −4.7%

What the stated multiple implies, over that window −9.5% −9.5%

Difference from stated, over that window −5.8 pts −5.3 pts

Fund returned, 1 year or since launch −19.9% −17.2%

Difference from stated, over that window −34.4 pts −31.7 pts

Underlying volatility 39% 39%

Difference over the days both have traded −5.8 pts −5.3 pts

Expense ratio 1.31% 1.00%

Launched Aug 22, 2024 Oct 10, 2024

Net assets $230m $290m

AVGX and AVL on the same fields, as of Sep 30, 2026. Source: ETFIQ.

AVGX in plain words

Three months to Sep 30, 2026: AVGX returned −15.3% where its own daily promise gave −12.6%, 2.6 points short. Read the multiple against the whole window instead and 2 times AVGO's −4.7% implies −9.5%, which makes AVGX look 5.8 points short. 3.2 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. AVGX aims to return +2 times AVGO'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. AVGO moved at 39% 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.

AVL in plain words

Three months to Sep 30, 2026: AVL returned −14.8% where its own daily promise gave −12.6%, 2.2 points short. Read the multiple against the whole window instead and 2 times AVGO's −4.7% implies −9.5%, which makes AVL look 5.3 points short. AVL aims to return +2 times AVGO's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, AVGX or AVL?: Over the window to Sep 30, 2026, AVGX finished 5.8 points from what its multiple implies and AVL finished 5.3 points from its own, so AVL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are AVGX and AVL levered on the same thing?: Yes. Both are levered on Broadcom, AVGX at +2 times and AVL at +2 times the daily move.
Which one decays faster, AVGX or AVL?: Decay follows how much the underlying moves about. Over this window AVGX’s moved at 39% annualized and AVL’s at 39%, so AVGX has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold AVGX or AVL 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, AVGX or AVL?: AVGX charges 1.31% a year and AVL charges 1.00%, so AVL is cheaper. Fees come from each fund's prospectus.

Other comparisons

AVGX vs AVGC AVGX vs AVGG AVGX vs AVGU AVGX vs AVS AVL vs AVGC AVL vs AVGG AVL vs AVGU AVL vs AVS

AVGX on its own →AVL on its own →How every figure is computed →Standards and sources →

Where these figures came from

AVGX filings on SEC EDGAR ↗AVGX prospectus with the expense ratio (SEC) ↗Defiance page for AVGX ↗AVL filings on SEC EDGAR ↗AVL prospectus with the expense ratio (SEC) ↗Direxion website ↗

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

Cite this page

ETFIQ, AVGX against AVL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/avgx-vs-avl

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.