{
 "ticker": "LMNX",
 "name": "Defiance Daily Target 2X Long LMND ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/lmnx",
 "html": "https://etfiq.com/funds/lmnx",
 "markdown": "https://etfiq.com/funds/lmnx.md",
 "as_of": "2026-10-02",
 "verdict": "Three months to Oct 2, 2026: LMNX returned \u221253.4% where its own daily promise gave \u221264.4%, 11.0 points over.",
 "key_facts": [
  {
   "key": "what_lmnd_did",
   "label": "What LMND did",
   "value": "\u221235.0%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "LMNX, what LMND did: \u221235.0%, as of Oct 2, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221264.4%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "LMNX, what 2 times a day gives: \u221264.4%, as of Oct 2, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221253.4%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "LMNX, what the fund returned: \u221253.4%, as of Oct 2, 2026."
  },
  {
   "key": "the_fund_itself_added",
   "label": "The fund itself added",
   "value": "+11.0 pts",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "LMNX, the fund itself added: +11.0 pts, as of Oct 2, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$4m",
   "source": "SEC N-PORT, whole fund, as filed for Jul 31, 2026",
   "as_of": "2026-10-02",
   "sentence": "LMNX, net assets: $4m (SEC N-PORT, whole fund, as filed for Jul 31, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.31%",
   "source": "485BPOS XBRL, Sep 24, 2025",
   "as_of": "2026-10-02",
   "sentence": "LMNX, expense ratio: 1.31% (485BPOS XBRL, Sep 24, 2025)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of LMND, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+1.53 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "LMND",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$4m",
   "source": "SEC N-PORT, whole fund, as filed for Jul 31, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.31%",
   "source": "485BPOS XBRL, Sep 24, 2025"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Oct 16, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "70% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "0.0%",
   "LMND": "\u221212.5%",
   "+2x the move": "\u221225.0%",
   "Difference": "+25.0 pts",
   "LMND moved about": "42%"
  },
  {
   "window": "3 months",
   "Fund": "\u221253.4%",
   "LMND": "\u221235.0%",
   "+2x the move": "\u221270.0%",
   "Difference": "+16.6 pts",
   "LMND moved about": "70%"
  },
  {
   "window": "6 months",
   "Fund": "\u221247.3%",
   "LMND": "\u221224.4%",
   "+2x the move": "\u221248.7%",
   "Difference": "+1.5 pts",
   "LMND moved about": "68%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221243.9%",
   "LMND": "\u22122.2%",
   "+2x the move": "\u22124.5%",
   "Difference": "\u221239.4 pts",
   "LMND moved about": "80%"
  }
 ],
 "questions": [
  {
   "q": "Did LMNX return +2 times LMND?",
   "a": "Over the window to Oct 2, 2026, LMND moved \u221235.0% and LMNX returned \u221253.4%. 2 times that move is \u221270.0%, so the fund came out 16.6 points ahead of it."
  },
  {
   "q": "Why does LMNX not return +2 times over a year?",
   "a": "Because it resets daily. LMNX 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)."
}