# DKNX (Defiance Daily Target 2X Long DKNG ETF)

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

Three months to Sep 11, 2026: DKNX returned −37.7% where its own daily promise gave −32.2%, 5.5 points short.

## Key facts

- DKNX, what DKNG did: −14.7%, as of Sep 11, 2026.
- DKNX, what +2 times a day gives: −32.2%, as of Sep 11, 2026.
- DKNX, what the fund returned: −37.7%, as of Sep 11, 2026.
- DKNX, the fund itself cost: −5.5 pts, as of Sep 11, 2026.
- DKNX, net assets: $5m (source, as filed for Apr 30, 2026).
- DKNX, expense ratio: 1.29% (485BPOS XBRL, Aug 26, 2025).

## DKNX over each window to Sep 11, 2026

| Window | Fund | DKNG | +2x the move | Difference | DKNG moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −12.0% | −3.0% | −6.0% | −5.9 pts | 48% |
| 3 months | −37.7% | −14.7% | −29.4% | −8.3 pts | 54% |
| 6 months | −30.2% | −4.4% | −8.7% | −21.5 pts | 53% |
| 1 year | −82.9% | −46.1% | −92.1% | +9.3 pts | 53% |
| Since launch | −82.7% | −45.1% | −90.1% | +7.5 pts | 51% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of DKNG, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.56 times, against +2 stated | ETFIQ |
| Underlying | DKNG | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $5m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.29% | 485BPOS XBRL, Aug 26, 2025 |
| Launched | Jul 31, 2025 | ETFIQ |
| Underlying volatility over the window | 54% annualized | ETFIQ |

## Questions

### Did DKNX return +2 times DKNG?

Over the window to Sep 11, 2026, DKNG moved −14.7% and DKNX returned −37.7%. 2 times that move is −29.4%, so the fund came out 8.3 points short of it.

### Why does DKNX not return +2 times over a year?

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

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