# OPEX (Tradr 2X Long OPEN Daily ETF)

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

Three months to Sep 11, 2026: OPEX returned −67.0% where its own daily promise gave −65.3%, 1.7 points short.

## Key facts

- OPEX, what OPEN did: −37.2%, as of Sep 11, 2026.
- OPEX, what +2 times a day gives: −65.3%, as of Sep 11, 2026.
- OPEX, what the fund returned: −67.0%, as of Sep 11, 2026.
- OPEX, the fund itself cost: −1.7 pts, as of Sep 11, 2026.
- OPEX, net assets: $13m (source, as filed for Jun 30, 2026).
- OPEX, expense ratio: 1.30% (485BPOS XBRL, Oct 21, 2025).

## OPEX over each window to Sep 11, 2026

| Window | Fund | OPEN | +2x the move | Difference | OPEN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −38.4% | −20.1% | −40.1% | +1.8 pts | 55% |
| 3 months | −67.0% | −37.2% | −74.3% | +7.3 pts | 69% |
| 6 months | −78.3% | −43.6% | −87.3% | +8.9 pts | 68% |
| Since launch | −93.2% | −59.0% | −118.0% | +24.8 pts | 81% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of OPEN, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.8 times, against +2 stated | ETFIQ |
| Underlying | OPEN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $13m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Oct 21, 2025 |
| Launched | Oct 23, 2025 | ETFIQ |
| Underlying volatility over the window | 69% annualized | ETFIQ |

## Questions

### Did OPEX return +2 times OPEN?

Over the window to Sep 11, 2026, OPEN moved −37.2% and OPEX returned −67.0%. 2 times that move is −74.3%, so the fund came out 7.3 points ahead of it.

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

Because it resets daily. OPEX 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.

### Which +2x OPEN ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic.


## Cite this page

ETFIQ, OPEX, data as of Sep 11, 2026. https://etfiq.com/funds/OPEX
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/OPEX  ·  JSON: https://etfiq.com/funds/OPEX.json