{
 "ticker": "KEEX",
 "name": "Defiance Daily Target 2x Long KEEL ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/keex",
 "html": "https://etfiq.com/funds/keex",
 "markdown": "https://etfiq.com/funds/keex.md",
 "as_of": "2026-10-02",
 "verdict": "Three months to Oct 2, 2026: KEEX returned \u221259.6% where its own daily promise gave \u221254.1%, 5.4 points short.",
 "key_facts": [
  {
   "key": "what_keel_did",
   "label": "What KEEL did",
   "value": "\u221221.1%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "KEEX, what KEEL did: \u221221.1%, as of Oct 2, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221254.1%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "KEEX, what 2 times a day gives: \u221254.1%, as of Oct 2, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221259.6%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "KEEX, what the fund returned: \u221259.6%, as of Oct 2, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22125.4 pts",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "KEEX, the fund itself cost: \u22125.4 pts, as of Oct 2, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$7m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026",
   "as_of": "2026-10-02",
   "sentence": "KEEX, net assets: $7m (the issuer\u2019s own daily fund list, as of Oct 1, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.35%",
   "source": "485BPOS XBRL, Aug 25, 2026",
   "as_of": "2026-10-02",
   "sentence": "KEEX, expense ratio: 1.35% (485BPOS XBRL, Aug 25, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of KEEL, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.82 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "KEEL",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$7m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.35%",
   "source": "485BPOS XBRL, Aug 25, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Apr 27, 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": "+22.8%",
   "KEEL": "+16.4%",
   "+2x the move": "+32.8%",
   "Difference": "\u221210.0 pts",
   "KEEL moved about": "76%"
  },
  {
   "window": "3 months",
   "Fund": "\u221259.6%",
   "KEEL": "\u221221.1%",
   "+2x the move": "\u221242.3%",
   "Difference": "\u221217.3 pts",
   "KEEL moved about": "110%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221232.6%",
   "KEEL": "+15.3%",
   "+2x the move": "+30.6%",
   "Difference": "\u221263.2 pts",
   "KEEL moved about": "107%"
  }
 ],
 "questions": [
  {
   "q": "Did KEEX return +2 times KEEL?",
   "a": "Over the window to Oct 2, 2026, KEEL moved \u221221.1% and KEEX returned \u221259.6%. 2 times that move is \u221242.3%, so the fund came out 17.3 points short of it."
  },
  {
   "q": "Why does KEEX not return +2 times over a year?",
   "a": "Because it resets daily. KEEX 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)."
}