# STXL (Defiance Daily Target 2X Long STX ETF)

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

Three months to Sep 11, 2026: STXL returned −36.3% where its own daily promise gave −33.2%, 3.1 points short.

## Key facts

- STXL, what STX did: −10.8%, as of Sep 11, 2026.
- STXL, what +2 times a day gives: −33.2%, as of Sep 11, 2026.
- STXL, what the fund returned: −36.3%, as of Sep 11, 2026.
- STXL, the fund itself cost: −3.1 pts, as of Sep 11, 2026.
- STXL, net assets: $30m (source, as filed for Jun 30, 2026).
- STXL, expense ratio: 1.31% (485BPOS XBRL, Apr 22, 2026).

## STXL over each window to Sep 11, 2026

| Window | Fund | STX | +2x the move | Difference | STX moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −15.8% | −5.5% | −10.9% | −4.8 pts | 68% |
| 3 months | −36.3% | −10.8% | −21.5% | −14.7 pts | 83% |
| Since launch | +46.5% | +41.4% | +82.8% | −36.3 pts | 78% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of STX, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +3.37 times, against +2 stated | ETFIQ |
| Underlying | STX | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $30m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, Apr 22, 2026 |
| Launched | Apr 23, 2026 | ETFIQ |
| Underlying volatility over the window | 83% annualized | ETFIQ |

## Questions

### Did STXL return +2 times STX?

Over the window to Sep 11, 2026, STX moved −10.8% and STXL returned −36.3%. 2 times that move is −21.5%, so the fund came out 14.7 points short of it.

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

Because it resets daily. STXL 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.

### Which +2x STX ETF tracked its stated multiple most closely?

3 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.


## Cite this page

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

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