# NBIZ (Tradr 2X Short NBIS Daily ETF)

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

Three months to Sep 30, 2026: NBIZ returned −81.0% where its own daily promise gave −81.0%, 0.0 points short.

## Key facts

- NBIZ, what NBIS did: +2.9%, as of Sep 30, 2026.
- NBIZ, what −2 times a day gives: −81.0%, as of Sep 30, 2026.
- NBIZ, what the fund returned: −81.0%, as of Sep 30, 2026.
- NBIZ, the fund itself cost: 0.0 pts, as of Sep 30, 2026.
- NBIZ, net assets: $41m (the issuer’s own daily fund list, as of Sep 30, 2026).
- NBIZ, expense ratio: 1.49% (485BPOS XBRL, Jan 20, 2026).

## NBIZ over each window to Sep 30, 2026

| Window | Fund | NBIS | -2x the move | Difference | NBIS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −31.0% | +14.3% | −28.7% | −2.4 pts | 63% |
| 3 months | −81.0% | +2.9% | −5.8% | −75.1 pts | 131% |
| 6 months | −98.4% | +131.4% | not meaningful over this window | not meaningful over this window | 119% |
| Since launch | −99.3% | +143.6% | not meaningful over this window | not meaningful over this window | 117% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of NBIS, reset daily | ETFIQ |
| Multiple a holder actually got over the window | NBIS moved +2.9% over this window, too little to read a multiple from | ETFIQ |
| Underlying | NBIS | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $41m | the issuer’s own daily fund list, as of Sep 30, 2026 |
| Expense ratio | 1.49% | 485BPOS XBRL, Jan 20, 2026 |
| Launched | Jan 22, 2026 | ETFIQ |
| Underlying volatility over the window | 131% annualized | ETFIQ |

## Questions

### Did NBIZ return -2 times NBIS?

Over the window to Sep 30, 2026, NBIS moved +2.9% and NBIZ returned −81.0%. −2 times that move is −5.8%, so the fund came out 75.1 points short of it.

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

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

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