# AVAZ (2x Avalanche ETF)

Volatility Shares · Leveraged ETFs · data as of Oct 21, 2026

Promise check: Missed. Over three months to Oct 21, 2026, AVAZ finished 9.0 points behind twice Avalanche's daily moves, compounded. https://etfiq.com/promise-index/leverage/

Over the three months to Oct 21, 2026, AVAZ returned 83.1%, against 92.1% for twice Avalanche's daily moves.

## Key facts

- AVAZ, what Avalanche did: +49.3%, as of Oct 21, 2026.
- AVAZ, what 2 times a day gives: +92.1%, as of Oct 21, 2026.
- AVAZ, what the fund returned: +83.1%, as of Oct 21, 2026.
- AVAZ, gap to 2 times a day: −9.0 pts, as of Oct 21, 2026.
- AVAZ, last payment (paid monthly), ex-date Oct 21, 2026: $0.0078, as of Oct 21, 2026.
- AVAZ, net assets: $1m (issuer page, as of Oct 21, 2026).
- AVAZ, expense ratio: 1.85% (497 XBRL, May 15, 2026).

## AVAZ over each window to Oct 21, 2026

| Window | Total return | Avalanche | +2x the move | Difference | Avalanche moved about, annualized |
| --- | --- | --- | --- | --- | --- |
| 1 month | −25.0% | −11.1% | −22.2% | −2.8 pts | 65% |
| 3 months | +83.1% | +49.3% | +98.6% | −15.5 pts | 88% |
| Since launch | −18.4% | +3.3% | +6.6% | −25.0 pts | 77% |

## AVAZ key stats

- High since May 15, 2026, daily closes to Oct 21, 2026: $19.88 on Oct 6, 2026 (computed by ETFIQ from Tiingo daily prices)
- Low since May 15, 2026, daily closes to Oct 21, 2026: $6.70 on Jun 25, 2026 (computed by ETFIQ from Tiingo daily prices)
- Close on Oct 21, 2026, within that range: $14.31, 58% of the way from the low to the high (computed by ETFIQ from Tiingo daily prices)

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of Avalanche, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.68409 times, against +2 stated | ETFIQ |
| Underlying | Avalanche | ETFIQ |
| Segment | asset class, crypto | ETFIQ |
| Net assets | $1m | issuer page, as of Oct 21, 2026 |
| Expense ratio | 1.85% | 497 XBRL, May 15, 2026 |
| First traded | May 15, 2026 | ETFIQ |
| Underlying volatility over the window | 88% annualized | ETFIQ |

## Money in and out, to May 31, 2026

Monthly figures only. May 2026: +$783k, from SEC Form N-PORT.

Computed by ETFIQ from the change in shares outstanding times the previous day’s NAV. Every day and month: <https://etfiq.com/data/flows/funds/avaz.json>. Method: https://etfiq.com/methodology/flows

## Questions

### Did AVAZ return +2 times Avalanche?

Over the three months to Oct 21, 2026, Avalanche moved +49.3% and AVAZ returned +83.1%. 2 times that move is +98.6%, so the fund came out 15.5 points short of it. That is not its objective, which is daily. Against 2 times each day's move, compounded, it was 9.0 points short.

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

Because it resets daily. AVAZ aims at +2 times each day's move, and daily results compound. If the underlying falls and recovers, a holder ends up behind +2 times the period move; in a steady run in one direction, possibly ahead. The longer the holding and the more the underlying swings, the wider the gap.


## Cite this page

ETFIQ, AVAZ, leveraged ETFs, data as of Oct 21, 2026. https://etfiq.com/funds/avaz
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at <https://etfiq.com/data/>.

HTML: https://etfiq.com/funds/avaz  ·  JSON: https://etfiq.com/funds/avaz.json