{
 "ticker": "RGTZ",
 "name": "Defiance Daily Target 2X Short RGTI ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/RGTZ",
 "html": "https://etfiq.com/funds/RGTZ",
 "markdown": "https://etfiq.com/funds/RGTZ.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: RGTZ returned \u22122.4% where its own daily promise gave +11.9%, 14.3 points short.",
 "key_facts": [
  {
   "key": "what_rgti_did",
   "label": "What RGTI did",
   "value": "\u221227.2%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "RGTZ, what RGTI did: \u221227.2%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What \u22122 times a day gives",
   "value": "+11.9%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "RGTZ, what \u22122 times a day gives: +11.9%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u22122.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "RGTZ, what the fund returned: \u22122.4%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u221214.3 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "RGTZ, the fund itself cost: \u221214.3 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$22m",
   "source": "source, as filed for Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "RGTZ, net assets: $22m (source, as filed for Apr 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.83%",
   "source": "485BPOS XBRL, Aug 28, 2026",
   "as_of": "2026-09-11",
   "sentence": "RGTZ, expense ratio: 1.83% (485BPOS XBRL, Aug 28, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-2 times the daily move of RGTI, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+0.09 times, against -2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "RGTI",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$22m",
   "source": "source, as filed for Apr 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.83%",
   "source": "485BPOS XBRL, Aug 28, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Oct 9, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "83% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+22.7%",
   "RGTI": "\u221217.1%",
   "-2x the move": "+34.2%",
   "Difference": "\u221211.5 pts",
   "RGTI moved about": "70%"
  },
  {
   "window": "3 months",
   "Fund": "\u22122.4%",
   "RGTI": "\u221227.2%",
   "-2x the move": "+54.4%",
   "Difference": "\u221256.8 pts",
   "RGTI moved about": "83%"
  },
  {
   "window": "6 months",
   "Fund": "\u221284.5%",
   "RGTI": "\u22125.6%",
   "-2x the move": "+11.1%",
   "Difference": "\u221295.7 pts",
   "RGTI moved about": "101%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221278.8%",
   "RGTI": "\u221267.6%",
   "-2x the move": "+135.2%",
   "Difference": "\u2212214.0 pts",
   "RGTI moved about": "103%"
  }
 ],
 "questions": [
  {
   "q": "Did RGTZ return -2 times RGTI?",
   "a": "Over the window to Sep 11, 2026, RGTI moved \u221227.2% and RGTZ returned \u22122.4%. 2 times that move is +54.4%, so the fund came out 56.8 points short of it."
  },
  {
   "q": "Why does RGTZ not return -2 times over a year?",
   "a": "Because it resets daily. RGTZ 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)."
}