# VSTL (Defiance Daily Target 2X Long VST ETF)

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

Three months to Sep 11, 2026: VSTL returned −8.1% where its own daily promise gave −3.6%, 4.5 points short.

## Key facts

- VSTL, what VST did: +0.4%, as of Sep 11, 2026.
- VSTL, what +2 times a day gives: −3.6%, as of Sep 11, 2026.
- VSTL, what the fund returned: −8.1%, as of Sep 11, 2026.
- VSTL, the fund itself cost: −4.5 pts, as of Sep 11, 2026.
- VSTL, net assets: $7m (source, as filed for Apr 30, 2026).
- VSTL, expense ratio: 1.30% (485BPOS XBRL, Aug 26, 2026).

## VSTL over each window to Sep 11, 2026

| Window | Fund | VST | +2x the move | Difference | VST moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +0.2% | +1.2% | +2.3% | −2.1 pts | 31% |
| 3 months | −8.1% | +0.4% | +0.8% | −8.9 pts | 42% |
| 6 months | −29.1% | −6.4% | −12.8% | −16.3 pts | 46% |
| 1 year | −65.5% | −26.9% | −53.8% | −11.8 pts | 49% |
| Since launch | −61.4% | −21.1% | −42.2% | −19.2 pts | 48% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of VST, reset daily | ETFIQ |
| Multiple a holder actually got over the window | VST moved +0.4% over this window, too little to read a multiple from | ETFIQ |
| Underlying | VST | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $7m | source, as filed for Apr 30, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Aug 26, 2026 |
| Launched | Jul 22, 2025 | ETFIQ |
| Underlying volatility over the window | 42% annualized | ETFIQ |

## Questions

### Did VSTL return +2 times VST?

Over the window to Sep 11, 2026, VST moved +0.4% and VSTL returned −8.1%. 2 times that move is +0.8%, so the fund came out 8.9 points short of it.

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

Because it resets daily. VSTL 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, VSTL, data as of Sep 11, 2026. https://etfiq.com/funds/VSTL
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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