{
 "ticker": "OUSL",
 "name": "Defiance Daily Target 2X Long OUST ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/ousl",
 "html": "https://etfiq.com/funds/ousl",
 "markdown": "https://etfiq.com/funds/ousl.md",
 "as_of": "2026-10-09",
 "verdict": "One month to Oct 9, 2026: OUSL returned +13.2% where its own daily promise gave +16.2%, 3.0 points short.",
 "key_facts": [
  {
   "key": "what_oust_did",
   "label": "What OUST did",
   "value": "+10.1%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "OUSL, what OUST did: +10.1%, as of Oct 9, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "+16.2%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "OUSL, what 2 times a day gives: +16.2%, as of Oct 9, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+13.2%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "OUSL, what the fund returned: +13.2%, as of Oct 9, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22123.0 pts",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "OUSL, the fund itself cost: \u22123.0 pts, as of Oct 9, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$2m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 8, 2026",
   "as_of": "2026-10-09",
   "sentence": "OUSL, net assets: $2m (the issuer\u2019s own daily fund list, as of Oct 8, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.31%",
   "source": "485BPOS XBRL, Apr 22, 2026",
   "as_of": "2026-10-09",
   "sentence": "OUSL, expense ratio: 1.31% (485BPOS XBRL, Apr 22, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of OUST, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+1.31 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "OUST",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$2m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 8, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.31%",
   "source": "485BPOS XBRL, Apr 22, 2026"
  },
  {
   "key": "first_traded",
   "label": "First traded",
   "value": "Jul 14, 2026",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "70% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+13.2%",
   "OUST": "+10.1%",
   "+2x the move": "+20.2%",
   "Difference": "\u22127.0 pts",
   "OUST moved about, annualized": "70%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221232.5%",
   "OUST": "\u22124.9%",
   "+2x the move": "\u22129.9%",
   "Difference": "\u221222.7 pts",
   "OUST moved about, annualized": "94%"
  }
 ],
 "questions": [
  {
   "q": "Did OUSL return +2 times OUST?",
   "a": "Over the month to Oct 9, 2026, OUST moved +10.1% and OUSL returned +13.2%. 2 times that move is +20.2%, so the fund came out 7.0 points short of it. Against its own daily promise, 2 times each day's move compounded, it was 3.0 points short."
  },
  {
   "q": "Why does OUSL not return +2 times over a year?",
   "a": "Because it resets daily. OUSL 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": "2026-10-10",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, OUSL, leveraged ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/ousl"
}