ETFIQ
RankingsCompareHoldingsResearch
My portfolioWeekly note

DKNX Defiance Daily Target 2X Long DKNG ETF

Aims to return twice the daily move of DKNGDefiance1.29% fee$4mSince Jul 31, 2025Fund page at the issuer ↗SEC filings ↗
Share on XDownload as PDFCompareAdd to portfolioAlerts

DKNX aims to return +2 times DKNG's move each day, then resets. Over one day it does that.

ETFIQ publishes no comparison for DKNX. Measuring a leveraged fund means pricing what it tracks over the same days, and no live price history was found for DKNG, so there is nothing to hold its return against. Its own returns below are unaffected, and it is left out of every ranking and score on this desk rather than placed last in them.

Head to head

In plain words

Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. DKNX itself moved at 77% annualized over that window.
Sets out to return+2 times the daily move of DKNG, reset daily
UnderlyingDKNG (no investable tracker)
Segmentsingle stock, company
Net assets (SEC N-PORT, whole fund, as filed for Jul 31, 2026)$4m
Expense ratio (485BPOS XBRL, Aug 26, 2025)1.29%
LaunchedJul 31, 2025
DKNX (Defiance Daily Target 2X Long DKNG ETF), leveraged ETFs fields as of Oct 2, 2026. Source: ETFIQ.
Returns are ETFIQ calculations from Tiingo end-of-day prices, distributions reinvested, measured against the underlying over exactly the same days. How these figures are computed

Questions people ask about DKNX

Why does DKNX not return +2 times over a year?
Because it resets daily. DKNX 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.
Sources and dates
Prices, DKNXTiingo end-of-day prices ↗
Fee, 1.29%SEC 485BPOS XBRL · Aug 26, 2025
Net assets, $4mSEC N-PORT, whole fund · Jul 31, 2026
IssuerDefiance page for DKNX ↗
All fund filingsFund filings on SEC EDGAR ↗
SourceSEC investment company series and class file, which lists every registered fund ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

How these figures are computed →Standards and sources →Open data →
Cite this page

ETFIQ, DKNX, leveraged ETFs, data as of Oct 2, 2026. https://etfiq.com/funds/dknx

Open DKNX live on ETFIQ

Free to use with attribution; the underlying files are at Open data.

Stated multiple
What the fund sets out to return against its underlying, each day. A fund at 2x aims to return twice the underlying’s daily move, and an inverse fund at -2x aims to return twice it in the opposite direction.
Daily reset
The fund starts each day aiming at the multiple again, from wherever it now stands. It is the mechanism that makes these funds behave as they do, and the reason the stated multiple applies to a day rather than to a holding period.
Compounding
Daily results multiply together rather than adding up. Two days of the multiple is not twice the multiple, and over a run of days the difference between the two grows with how far the underlying moves about.
Decay
What compounding costs a holder when the underlying falls and rises back to where it started. The underlying is level and the fund is down; the more violently it moved, the further down.
Difference against the stated multiple
The fund’s return minus the stated multiple times the underlying’s return, in percentage points. The one figure that says whether a holder got what the fund’s own multiple describes.
Every term used here, defined in full on the leveraged ETFs vocabulary page. →
Defiance: every fund ETFIQ covers→Leveraged ETFs against their own promise, 2026-Q2→Leveraged ETFs against their own promise, 2026-Q3→Leveraged ETFs against their own promise, August 2026→