# ASTN (Defiance Daily Target 2X Short ASTS ETF)

Defiance · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: ASTN returned −19.4% where its own daily promise gave −10.8%, 8.6 points short.

## Key facts

- ASTN, what ASTS did: −27.4%, as of Sep 11, 2026.
- ASTN, what −2 times a day gives: −10.8%, as of Sep 11, 2026.
- ASTN, what the fund returned: −19.4%, as of Sep 11, 2026.
- ASTN, the fund itself cost: −8.6 pts, as of Sep 11, 2026.
- ASTN, net assets: $2m (source, as filed for Apr 30, 2026).
- ASTN, expense ratio: 1.31% (485BPOS XBRL, Aug 25, 2026).

## ASTN over each window to Sep 11, 2026

| Window | Fund | ASTS | -2x the move | Difference | ASTS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +30.6% | −19.4% | +38.9% | −8.3 pts | 74% |
| 3 months | −19.4% | −27.4% | +54.7% | −74.2 pts | 98% |
| 6 months | −71.7% | −30.7% | +61.3% | −133.0 pts | 109% |
| Since launch | −70.7% | −41.2% | +82.4% | −153.0 pts | 107% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of ASTS, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +0.71 times, against -2 stated | ETFIQ |
| Underlying | ASTS | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $2m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, Aug 25, 2026 |
| Launched | Feb 6, 2026 | ETFIQ |
| Underlying volatility over the window | 98% annualized | ETFIQ |

## Questions

### Did ASTN return -2 times ASTS?

Over the window to Sep 11, 2026, ASTS moved −27.4% and ASTN returned −19.4%. 2 times that move is +54.7%, so the fund came out 74.2 points short of it.

### Why does ASTN not return -2 times over a year?

Because it resets daily. ASTN aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, ASTN, data as of Sep 11, 2026. https://etfiq.com/funds/ASTN
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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