{
 "ticker": "PONX",
 "name": "Tradr 2X Long PONY Daily ETF",
 "issuer": "Tradr",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/PONX",
 "html": "https://etfiq.com/funds/PONX",
 "markdown": "https://etfiq.com/funds/PONX.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: PONX returned \u221242.3% where its own daily promise gave \u221238.6%, 3.7 points short.",
 "key_facts": [
  {
   "key": "what_pony_did",
   "label": "What PONY did",
   "value": "\u221218.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PONX, what PONY did: \u221218.6%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "\u221238.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PONX, what +2 times a day gives: \u221238.6%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221242.3%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PONX, what the fund returned: \u221242.3%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22123.7 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PONX, the fund itself cost: \u22123.7 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "source, as filed for Jun 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "PONX, net assets: $3m (source, as filed for Jun 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.30%",
   "source": "485BPOS XBRL, Jul 23, 2026",
   "as_of": "2026-09-11",
   "sentence": "PONX, expense ratio: 1.30% (485BPOS XBRL, Jul 23, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of PONY, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.28 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "PONY",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "source, as filed for Jun 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.30%",
   "source": "485BPOS XBRL, Jul 23, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Sep 9, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "55% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221237.2%",
   "PONY": "\u221219.1%",
   "+2x the move": "\u221238.2%",
   "Difference": "+1.0 pts",
   "PONY moved about": "52%"
  },
  {
   "window": "3 months",
   "Fund": "\u221242.3%",
   "PONY": "\u221218.6%",
   "+2x the move": "\u221237.2%",
   "Difference": "\u22125.1 pts",
   "PONY moved about": "55%"
  },
  {
   "window": "6 months",
   "Fund": "\u221275.8%",
   "PONY": "\u221242.0%",
   "+2x the move": "\u221284.0%",
   "Difference": "+8.2 pts",
   "PONY moved about": "65%"
  },
  {
   "window": "1 year",
   "Fund": "\u221291.0%",
   "PONY": "\u221256.5%",
   "+2x the move": "\u2212112.9%",
   "Difference": "+22.0 pts",
   "PONY moved about": "72%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221290.9%",
   "PONY": "\u221256.3%",
   "+2x the move": "\u2212112.6%",
   "Difference": "+21.7 pts",
   "PONY moved about": "72%"
  }
 ],
 "questions": [
  {
   "q": "Did PONX return +2 times PONY?",
   "a": "Over the window to Sep 11, 2026, PONY moved \u221218.6% and PONX returned \u221242.3%. 2 times that move is \u221237.2%, so the fund came out 5.1 points short of it."
  },
  {
   "q": "Why does PONX not return +2 times over a year?",
   "a": "Because it resets daily. PONX 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."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}