# OCNL (T-REX 2X LONG DOCN DAILY TARGET ETF)

T-REX · Leveraged ETFs · data as of Sep 11, 2026

One month to Sep 11, 2026: OCNL returned −21.4% where its own daily promise gave −19.3%, 2.1 points short.

## Key facts

- OCNL, what DOCN did: −7.8%, as of Sep 11, 2026.
- OCNL, what +2 times a day gives: −19.3%, as of Sep 11, 2026.
- OCNL, what the fund returned: −21.4%, as of Sep 11, 2026.
- OCNL, the fund itself cost: −2.1 pts, as of Sep 11, 2026.
- OCNL, expense ratio: 1.50% (485BPOS XBRL, Jul 22, 2026).
- OCNL, underlying: DOCN, as of Sep 11, 2026.

## OCNL over each window to Sep 11, 2026

| Window | Fund | DOCN | +2x the move | Difference | DOCN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −21.4% | −7.8% | −15.6% | −5.8 pts | 79% |
| Since launch | −9.2% | +0.6% | +1.2% | −10.4 pts | 84% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of DOCN, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.74 times, against +2 stated | ETFIQ |
| Underlying | DOCN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Expense ratio | 1.50% | 485BPOS XBRL, Jul 22, 2026 |
| Launched | Aug 6, 2026 | ETFIQ |
| Underlying volatility over the window | 79% annualized | ETFIQ |

## Questions

### Did OCNL return +2 times DOCN?

Over the window to Sep 11, 2026, DOCN moved −7.8% and OCNL returned −21.4%. 2 times that move is −15.6%, so the fund came out 5.8 points short of it.

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

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

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