{
 "ticker": "SPAX",
 "name": "T-REX 2X Long SpaceX Daily Target ETF",
 "issuer": "T-REX",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/SPAX",
 "html": "https://etfiq.com/funds/SPAX",
 "markdown": "https://etfiq.com/funds/SPAX.md",
 "as_of": "2026-09-11",
 "verdict": "One month to Sep 11, 2026: SPAX returned +4.2% where its own daily promise gave +5.5%, 1.3 points short.",
 "key_facts": [
  {
   "key": "what_spcx_did",
   "label": "What SPCX did",
   "value": "+3.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SPAX, what SPCX did: +3.5%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "+5.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SPAX, what +2 times a day gives: +5.5%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+4.2%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SPAX, what the fund returned: +4.2%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.3 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SPAX, the fund itself cost: \u22121.3 pts, as of Sep 11, 2026."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.50%",
   "source": "485BPOS XBRL, Jun 9, 2026",
   "as_of": "2026-09-11",
   "sentence": "SPAX, expense ratio: 1.50% (485BPOS XBRL, Jun 9, 2026)."
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "SPCX",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SPAX, underlying: SPCX, as of Sep 11, 2026."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of SPCX, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "SPCX moved +3.5% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "SPCX",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.50%",
   "source": "485BPOS XBRL, Jun 9, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jun 15, 2026",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "43% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+4.2%",
   "SPCX": "+3.5%",
   "+2x the move": "+6.9%",
   "Difference": "\u22122.7 pts",
   "SPCX moved about": "43%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221250.3%",
   "SPCX": "\u221221.4%",
   "+2x the move": "\u221242.9%",
   "Difference": "\u22127.4 pts",
   "SPCX moved about": "81%"
  }
 ],
 "questions": [
  {
   "q": "Did SPAX return +2 times SPCX?",
   "a": "Over the window to Sep 11, 2026, SPCX moved +3.5% and SPAX returned +4.2%. 2 times that move is +6.9%, so the fund came out 2.7 points short of it."
  },
  {
   "q": "Why does SPAX not return +2 times over a year?",
   "a": "Because it resets daily. SPAX 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."
  },
  {
   "q": "Which +2x SPCX ETF tracked its stated multiple most closely?",
   "a": "7 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."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}