# OSSL (Defiance Daily Target 2X Long OSS ETF)

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

Three months to Sep 11, 2026: OSSL returned −77.3% where its own daily promise gave −74.3%, 3.0 points short.

## Key facts

- OSSL, what OSS did: −44.8%, as of Sep 11, 2026.
- OSSL, what +2 times a day gives: −74.3%, as of Sep 11, 2026.
- OSSL, what the fund returned: −77.3%, as of Sep 11, 2026.
- OSSL, the fund itself cost: −3.0 pts, as of Sep 11, 2026.
- OSSL, net assets: $400,045 (source, as filed for Jun 30, 2026).
- OSSL, expense ratio: 1.31% (485BPOS XBRL, May 5, 2026).

## OSSL over each window to Sep 11, 2026

| Window | Fund | OSS | +2x the move | Difference | OSS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −56.4% | −31.2% | −62.3% | +5.9 pts | 50% |
| 3 months | −77.3% | −44.8% | −89.6% | +12.3 pts | 80% |
| Since launch | −80.4% | −47.7% | −95.3% | +14.9 pts | 79% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of OSS, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.73 times, against +2 stated | ETFIQ |
| Underlying | OSS | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $400,045 | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, May 5, 2026 |
| Launched | May 27, 2026 | ETFIQ |
| Underlying volatility over the window | 80% annualized | ETFIQ |

## Questions

### Did OSSL return +2 times OSS?

Over the window to Sep 11, 2026, OSS moved −44.8% and OSSL returned −77.3%. 2 times that move is −89.6%, so the fund came out 12.3 points ahead of it.

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

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

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