# DAMD (Defiance Daily Target 2X Short AMD ETF)

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

Three months to Sep 30, 2026: DAMD returned −44.3% where its own daily promise gave −44.6%, 0.3 points over.

## Key facts

- DAMD, what AMD did: +13.1%, as of Sep 30, 2026.
- DAMD, what −2 times a day gives: −44.6%, as of Sep 30, 2026.
- DAMD, what the fund returned: −44.3%, as of Sep 30, 2026.
- DAMD, the fund itself added: +0.3 pts, as of Sep 30, 2026.
- DAMD, net assets: $34m (the issuer’s own daily fund list, as of Sep 30, 2026).
- DAMD, expense ratio: 1.30% (485BPOS XBRL, Aug 25, 2026).

## DAMD over each window to Sep 30, 2026

| Window | Fund | AMD | -2x the move | Difference | AMD moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −46.0% | +30.0% | −59.9% | +13.9 pts | 55% |
| 3 months | −44.3% | +13.1% | −26.2% | −18.1 pts | 67% |
| 6 months | −95.3% | +191.0% | not meaningful over this window | not meaningful over this window | 75% |
| Since launch | −95.6% | +147.9% | not meaningful over this window | not meaningful over this window | 69% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of AMD, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -3.38 times, against -2 stated | ETFIQ |
| Underlying | AMD | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $34m | the issuer’s own daily fund list, as of Sep 30, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Aug 25, 2026 |
| Launched | Nov 14, 2025 | ETFIQ |
| Underlying volatility over the window | 67% annualized | ETFIQ |

## Questions

### Did DAMD return -2 times AMD?

Over the window to Sep 30, 2026, AMD moved +13.1% and DAMD returned −44.3%. −2 times that move is −26.2%, so the fund came out 18.1 points short of it.

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

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

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