# DAMD (Defiance Daily Target 2X Short AMD ETF)

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

Three months to Sep 11, 2026: DAMD returned −32.5% where its own daily promise gave −32.3%, 0.2 points short.

## Key facts

- DAMD, what AMD did: +0.9%, as of Sep 11, 2026.
- DAMD, what −2 times a day gives: −32.3%, as of Sep 11, 2026.
- DAMD, what the fund returned: −32.5%, as of Sep 11, 2026.
- DAMD, the fund itself cost: −0.2 pts, as of Sep 11, 2026.
- DAMD, net assets: $24m (source, as filed for Apr 30, 2026).
- DAMD, expense ratio: 1.30% (485BPOS XBRL, Aug 25, 2026).

## DAMD over each window to Sep 11, 2026

| Window | Fund | AMD | -2x the move | Difference | AMD moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −17.4% | +6.9% | −13.7% | −3.6 pts | 50% |
| 3 months | −32.5% | +0.9% | −1.8% | −30.7 pts | 70% |
| 6 months | −94.3% | +166.9% | not meaningful over this window | not meaningful over this window | 75% |
| Since launch | −93.4% | +109.1% | not meaningful over this window | not meaningful over this window | 70% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of AMD, reset daily | ETFIQ |
| Multiple a holder actually got over the window | AMD moved +0.9% over this window, too little to read a multiple from | ETFIQ |
| Underlying | AMD | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $24m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Aug 25, 2026 |
| Launched | Nov 14, 2025 | ETFIQ |
| Underlying volatility over the window | 70% annualized | ETFIQ |

## Questions

### Did DAMD return -2 times AMD?

Over the window to Sep 11, 2026, AMD moved +0.9% and DAMD returned −32.5%. 2 times that move is −1.8%, so the fund came out 30.7 points short of it.

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

Because it resets daily. DAMD 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, DAMD, data as of Sep 11, 2026. https://etfiq.com/funds/DAMD
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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