{
 "ticker": "BEZ",
 "name": "Tradr 2X Short BE Daily ETF",
 "issuer": "Tradr",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/bez",
 "html": "https://etfiq.com/funds/bez",
 "markdown": "https://etfiq.com/funds/bez.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: BEZ returned \u221259.0% where its own daily promise gave \u221259.2%, 0.2 points over.",
 "key_facts": [
  {
   "key": "what_be_did",
   "label": "What BE did",
   "value": "\u22124.3%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "BEZ, what BE did: \u22124.3%, as of Sep 30, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What \u22122 times a day gives",
   "value": "\u221259.2%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "BEZ, what \u22122 times a day gives: \u221259.2%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221259.0%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "BEZ, what the fund returned: \u221259.0%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_added",
   "label": "The fund itself added",
   "value": "+0.2 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "BEZ, the fund itself added: +0.2 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$24m",
   "source": "the issuer\u2019s own daily fund list, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "BEZ, net assets: $24m (the issuer\u2019s own daily fund list, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.49%",
   "source": "485BPOS XBRL, Jan 20, 2026",
   "as_of": "2026-09-30",
   "sentence": "BEZ, expense ratio: 1.49% (485BPOS XBRL, Jan 20, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-2 times the daily move of BE, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "BE moved \u22124.3% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "BE",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$24m",
   "source": "the issuer\u2019s own daily fund list, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.49%",
   "source": "485BPOS XBRL, Jan 20, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Feb 11, 2026",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "110% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221255.4%",
   "BE": "+34.3%",
   "-2x the move": "\u221268.5%",
   "Difference": "+13.2 pts",
   "BE moved about": "90%"
  },
  {
   "window": "3 months",
   "Fund": "\u221259.0%",
   "BE": "\u22124.3%",
   "-2x the move": "+8.6%",
   "Difference": "\u221267.6 pts",
   "BE moved about": "110%"
  },
  {
   "window": "6 months",
   "Fund": "\u221297.3%",
   "BE": "+109.1%",
   "-2x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "BE moved about": "113%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221297.8%",
   "BE": "+78.1%",
   "-2x the move": "\u2212156.2%",
   "Difference": "+58.4 pts",
   "BE moved about": "113%"
  }
 ],
 "questions": [
  {
   "q": "Did BEZ return -2 times BE?",
   "a": "Over the window to Sep 30, 2026, BE moved \u22124.3% and BEZ returned \u221259.0%. \u22122 times that move is +8.6%, so the fund came out 67.6 points short of it."
  },
  {
   "q": "Why does BEZ not return -2 times over a year?",
   "a": "Because it resets daily. BEZ 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": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}