# ONX (Tradr 2X Long ON Daily ETF)

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

Three months to Sep 11, 2026: ONX returned −66.1% where its own daily promise gave −65.2%, 0.9 points short.

## Key facts

- ONX, what ON did: −34.8%, as of Sep 11, 2026.
- ONX, what +2 times a day gives: −65.2%, as of Sep 11, 2026.
- ONX, what the fund returned: −66.1%, as of Sep 11, 2026.
- ONX, the fund itself cost: −0.9 pts, as of Sep 11, 2026.
- ONX, net assets: $2m (source, as filed for Jun 30, 2026).
- ONX, expense ratio: 1.30% (485BPOS XBRL, Oct 21, 2025).

## ONX over each window to Sep 11, 2026

| Window | Fund | ON | +2x the move | Difference | ON moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −18.4% | −8.6% | −17.2% | −1.1 pts | 46% |
| 3 months | −66.1% | −34.8% | −69.6% | +3.5 pts | 78% |
| Since launch | −70.8% | −38.5% | −77.0% | +6.2 pts | 78% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of ON, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.9 times, against +2 stated | ETFIQ |
| Underlying | ON | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $2m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Oct 21, 2025 |
| Launched | May 28, 2026 | ETFIQ |
| Underlying volatility over the window | 78% annualized | ETFIQ |

## Questions

### Did ONX return +2 times ON?

Over the window to Sep 11, 2026, ON moved −34.8% and ONX returned −66.1%. 2 times that move is −69.6%, so the fund came out 3.5 points ahead of it.

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

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

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