# LMNX (Defiance Daily Target 2X Long LMND ETF)

Defiance · Leveraged ETFs · data as of Oct 2, 2026

Three months to Oct 2, 2026: LMNX returned −53.4% where its own daily promise gave −64.4%, 11.0 points over.

## Key facts

- LMNX, what LMND did: −35.0%, as of Oct 2, 2026.
- LMNX, what 2 times a day gives: −64.4%, as of Oct 2, 2026.
- LMNX, what the fund returned: −53.4%, as of Oct 2, 2026.
- LMNX, the fund itself added: +11.0 pts, as of Oct 2, 2026.
- LMNX, net assets: $4m (SEC N-PORT, whole fund, as filed for Jul 31, 2026).
- LMNX, expense ratio: 1.31% (485BPOS XBRL, Sep 24, 2025).

## LMNX over each window to Oct 2, 2026

| Window | Fund | LMND | +2x the move | Difference | LMND moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | 0.0% | −12.5% | −25.0% | +25.0 pts | 42% |
| 3 months | −53.4% | −35.0% | −70.0% | +16.6 pts | 70% |
| 6 months | −47.3% | −24.4% | −48.7% | +1.5 pts | 68% |
| Since launch | −43.9% | −2.2% | −4.5% | −39.4 pts | 80% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of LMND, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.53 times, against +2 stated | ETFIQ |
| Underlying | LMND | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $4m | SEC N-PORT, whole fund, as filed for Jul 31, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, Sep 24, 2025 |
| Launched | Oct 16, 2025 | ETFIQ |
| Underlying volatility over the window | 70% annualized | ETFIQ |

## Questions

### Did LMNX return +2 times LMND?

Over the window to Oct 2, 2026, LMND moved −35.0% and LMNX returned −53.4%. 2 times that move is −70.0%, so the fund came out 16.6 points ahead of it.

### Why does LMNX not return +2 times over a year?

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.


## Cite this page

ETFIQ, LMNX, data as of Oct 2, 2026. https://etfiq.com/funds/lmnx
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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