# MRNX (Defiance Daily Target 2X Long MRNA ETF)

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

MRNX aims to return +2 times MRNA's move each day, then resets. Over one day it does that.

## Key facts

- MRNX, what the fund returned: +258.6%, as of Sep 11, 2026.
- MRNX, what MRNA did: +188.5%, as of Sep 11, 2026.
- MRNX, net assets: $415,993 (source, as filed for Apr 30, 2026).
- MRNX, expense ratio: 1.31% (485BPOS XBRL, Oct 27, 2025).
- MRNX, underlying: MRNA, as of Sep 11, 2026.
- MRNX, sets out to return: +2 times the daily move of MRNA, reset daily, as of Sep 11, 2026.

## MRNX over each window to Sep 11, 2026

| Window | Fund | MRNA | MRNA moved about |
| --- | --- | --- | --- |
| 1 month | +155.1% | +126.1% | 612% |
| 3 months | +258.6% | +188.5% | 366% |
| 6 months | +183.2% | +173.9% | 262% |
| Since launch | +299.6% | +236.6% | 240% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of MRNA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | MRNA moved +188.5% over this window, too far for the stated multiple to describe | ETFIQ |
| Underlying | MRNA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $415,993 | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, Oct 27, 2025 |
| Launched | Feb 4, 2026 | ETFIQ |
| Underlying volatility over the window | 366% annualized | ETFIQ |

## Questions

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

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

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