# ASTN (Defiance Daily Target 2X Short ASTS ETF)

Defiance · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: ASTN returned +17.0% where its own daily promise gave +26.4%, 9.3 points short.

## Key facts

- ASTN, what ASTS did: −31.6%, as of Sep 30, 2026.
- ASTN, what −2 times a day gives: +26.4%, as of Sep 30, 2026.
- ASTN, what the fund returned: +17.0%, as of Sep 30, 2026.
- ASTN, the fund itself cost: −9.3 pts, as of Sep 30, 2026.
- ASTN, net assets: $4m (the issuer’s own daily fund list, as of Sep 30, 2026).
- ASTN, expense ratio: 1.31% (485BPOS XBRL, Aug 25, 2026).

## ASTN over each window to Sep 30, 2026

| Window | Fund | ASTS | -2x the move | Difference | ASTS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −12.6% | −0.4% | +0.8% | −13.4 pts | 72% |
| 3 months | +17.0% | −31.6% | +63.3% | −46.3 pts | 83% |
| 6 months | −68.1% | −29.9% | +59.8% | −128.0 pts | 105% |
| Since launch | −71.3% | −42.2% | +84.4% | −155.7 pts | 104% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of ASTS, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -0.54 times, against -2 stated | ETFIQ |
| Underlying | ASTS | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $4m | the issuer’s own daily fund list, as of Sep 30, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, Aug 25, 2026 |
| Launched | Feb 6, 2026 | ETFIQ |
| Underlying volatility over the window | 83% annualized | ETFIQ |

## Questions

### Did ASTN return -2 times ASTS?

Over the window to Sep 30, 2026, ASTS moved −31.6% and ASTN returned +17.0%. −2 times that move is +63.3%, so the fund came out 46.3 points short of it.

### Why does ASTN not return -2 times over a year?

Because it resets daily. ASTN 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, ASTN, data as of Sep 30, 2026. https://etfiq.com/funds/astn
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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