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

Over the window to Sep 30, 2026, AVGX finished 5.8 points from what its multiple implies and AVS finished 1.9 points from its own, so AVS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are AVGX and AVS levered on the same thing?

Yes. Both are levered on Broadcom, AVGX at +2 times and AVS at -1 times the daily move.

Which one decays faster, AVGX or AVS?

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

Can I hold AVGX or AVS 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 AVS?

AVGX charges 1.31% a year and AVS charges 1.03%, so AVS is cheaper. Fees come from each fund's prospectus.

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AVGX vs AVS: which held to its multiple?

Over three months against its own daily promise, AVGX finished 2.6 points short and AVS 1.8 points over. Defiance Daily Target 2X Long AVGO ETF and Direxion Daily AVGO Bear 1X ETF.

−15.3%

AVGX returned, 3 months

+2.9%

AVS returned, 3 months

−5.8 pts

AVGX from its stated multiple

−1.9 pts

AVS 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%

AVS · 3 months to Sep 30, 20261.9 pts short of its stated multiple

AVS returned +2.9% while −1 times AVGO's move would have been +4.7%

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

AVGX among the 470 leveraged ETFs, long, over three months

AVGX 50.9

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

AVS among the 125 inverse ETFs over three months

AVS 62

0.4, the lowest in this set99.6, the highest

A percentile among the 470 leveraged ETFs, long, over three months. AVS is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. 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	AVS	AVGX	AVS	AVGX	AVS
1 month	−11.3%	+5.0%	−10.0%	+5.0%	−1.3 pts	0.0 pts
3 months	−15.3%	+2.9%	−9.5%	+4.7%	−5.8 pts	−1.9 pts
6 months	+5.4%	−17.7%	+24.8%	−12.4%	−19.5 pts	−5.3 pts
1 year	−19.9%	−19.9%	+14.5%	−7.2%	−34.4 pts	−12.6 pts
Since launch AVGX Aug 2024 · AVS Oct 2024	+101.2%	−65.1%	not meaningful	−92.4%	not meaningful	+27.3 pts

AVGX and AVS 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)

AVS

Direxion Daily AVGO Bear 1X ETF · Aims to return 1 times the opposite of the daily move of Broadcom (AVGO)

Issuer Defiance Direxion

Sets out to return +2x -1x

Underlying asset AVGO AVGO

Segment company company

Fund returned, 3 months or since launch −15.3% +2.9%

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

What the stated multiple implies, over that window −9.5% +4.7%

Difference from stated, over that window −5.8 pts −1.9 pts

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

Difference from stated, over that window −34.4 pts −12.6 pts

Underlying volatility 39% 39%

Difference over the days both have traded −5.8 pts no shared window

Expense ratio 1.31% 1.03%

Launched Aug 22, 2024 Oct 10, 2024

Net assets $230m $8m

AVGX and AVS 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.

AVS in plain words

Three months to Sep 30, 2026: AVS returned +2.9% where its own daily promise gave +1.1%, 1.8 points over. Read the multiple against the whole window instead and −1 times AVGO's −4.7% implies +4.7%, which makes AVS look 1.9 points short. 3.7 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. AVS aims to return -1 times AVGO's move each day, then resets. Over longer, the daily results compound, so the total is not -1 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, AVGX or AVS?: Over the window to Sep 30, 2026, AVGX finished 5.8 points from what its multiple implies and AVS finished 1.9 points from its own, so AVS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are AVGX and AVS levered on the same thing?: Yes. Both are levered on Broadcom, AVGX at +2 times and AVS at -1 times the daily move.
Which one decays faster, AVGX or AVS?: Decay follows how much the underlying moves about. Over this window AVGX’s moved at 39% annualized and AVS’s at 39%, so AVGX has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold AVGX or AVS 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 AVS?: AVGX charges 1.31% a year and AVS charges 1.03%, so AVS is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

AVGX on its own →AVS 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 ↗AVS filings on SEC EDGAR ↗AVS 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 AVS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/avgx-vs-avs

Open data

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