{
 "ticker": "AVXX",
 "name": "Defiance Daily Target 2X Long AVAV ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/avxx",
 "html": "https://etfiq.com/funds/avxx",
 "markdown": "https://etfiq.com/funds/avxx.md",
 "as_of": "2026-10-02",
 "verdict": "Three months to Oct 2, 2026: AVXX returned \u221254.3% where its own daily promise gave \u221250.9%, 3.4 points short.",
 "key_facts": [
  {
   "key": "what_avav_did",
   "label": "What AVAV did",
   "value": "\u221226.2%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "AVXX, what AVAV did: \u221226.2%, as of Oct 2, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221250.9%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "AVXX, what 2 times a day gives: \u221250.9%, as of Oct 2, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221254.3%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "AVXX, what the fund returned: \u221254.3%, as of Oct 2, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22123.4 pts",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "AVXX, the fund itself cost: \u22123.4 pts, as of Oct 2, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$12m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026",
   "as_of": "2026-10-02",
   "sentence": "AVXX, net assets: $12m (the issuer\u2019s own daily fund list, as of Oct 1, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.31%",
   "source": "485BPOS XBRL, Aug 24, 2026",
   "as_of": "2026-10-02",
   "sentence": "AVXX, expense ratio: 1.31% (485BPOS XBRL, Aug 24, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of AVAV, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.07 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "AVAV",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$12m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.31%",
   "source": "485BPOS XBRL, Aug 24, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Oct 24, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "62% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221210.0%",
   "AVAV": "\u22123.1%",
   "+2x the move": "\u22126.3%",
   "Difference": "\u22123.7 pts",
   "AVAV moved about": "44%"
  },
  {
   "window": "3 months",
   "Fund": "\u221254.3%",
   "AVAV": "\u221226.2%",
   "+2x the move": "\u221252.5%",
   "Difference": "\u22121.8 pts",
   "AVAV moved about": "62%"
  },
  {
   "window": "6 months",
   "Fund": "\u221260.6%",
   "AVAV": "\u221223.6%",
   "+2x the move": "\u221247.2%",
   "Difference": "\u221213.4 pts",
   "AVAV moved about": "75%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221293.6%",
   "AVAV": "\u221262.8%",
   "+2x the move": "\u2212125.6%",
   "Difference": "+32.0 pts",
   "AVAV moved about": "76%"
  }
 ],
 "questions": [
  {
   "q": "Did AVXX return +2 times AVAV?",
   "a": "Over the window to Oct 2, 2026, AVAV moved \u221226.2% and AVXX returned \u221254.3%. 2 times that move is \u221252.5%, so the fund came out 1.8 points short of it."
  },
  {
   "q": "Why does AVXX not return +2 times over a year?",
   "a": "Because it resets daily. AVXX 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."
  }
 ],
 "generated": "2026-10-03",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}