# PONX (Tradr 2X Long PONY Daily ETF)

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

Three months to Sep 11, 2026: PONX returned −42.3% where its own daily promise gave −38.6%, 3.7 points short.

## Key facts

- PONX, what PONY did: −18.6%, as of Sep 11, 2026.
- PONX, what +2 times a day gives: −38.6%, as of Sep 11, 2026.
- PONX, what the fund returned: −42.3%, as of Sep 11, 2026.
- PONX, the fund itself cost: −3.7 pts, as of Sep 11, 2026.
- PONX, net assets: $3m (source, as filed for Jun 30, 2026).
- PONX, expense ratio: 1.30% (485BPOS XBRL, Jul 23, 2026).

## PONX over each window to Sep 11, 2026

| Window | Fund | PONY | +2x the move | Difference | PONY moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −37.2% | −19.1% | −38.2% | +1.0 pts | 52% |
| 3 months | −42.3% | −18.6% | −37.2% | −5.1 pts | 55% |
| 6 months | −75.8% | −42.0% | −84.0% | +8.2 pts | 65% |
| 1 year | −91.0% | −56.5% | −112.9% | +22.0 pts | 72% |
| Since launch | −90.9% | −56.3% | −112.6% | +21.7 pts | 72% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of PONY, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.28 times, against +2 stated | ETFIQ |
| Underlying | PONY | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $3m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Jul 23, 2026 |
| Launched | Sep 9, 2025 | ETFIQ |
| Underlying volatility over the window | 55% annualized | ETFIQ |

## Questions

### Did PONX return +2 times PONY?

Over the window to Sep 11, 2026, PONY moved −18.6% and PONX returned −42.3%. 2 times that move is −37.2%, so the fund came out 5.1 points short of it.

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

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.


## Cite this page

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

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