# OUSL (Defiance Daily Target 2X Long OUST ETF)

Defiance · Leveraged ETFs · data as of Oct 9, 2026

One month to Oct 9, 2026: OUSL returned +13.2% where its own daily promise gave +16.2%, 3.0 points short.

## Key facts

- OUSL, what OUST did: +10.1%, as of Oct 9, 2026.
- OUSL, what 2 times a day gives: +16.2%, as of Oct 9, 2026.
- OUSL, what the fund returned: +13.2%, as of Oct 9, 2026.
- OUSL, the fund itself cost: −3.0 pts, as of Oct 9, 2026.
- OUSL, net assets: $2m (the issuer’s own daily fund list, as of Oct 8, 2026).
- OUSL, expense ratio: 1.31% (485BPOS XBRL, Apr 22, 2026).

## OUSL over each window to Oct 9, 2026

| Window | Fund | OUST | +2x the move | Difference | OUST moved about, annualized |
| --- | --- | --- | --- | --- | --- |
| 1 month | +13.2% | +10.1% | +20.2% | −7.0 pts | 70% |
| Since launch | −32.5% | −4.9% | −9.9% | −22.7 pts | 94% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of OUST, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.31 times, against +2 stated | ETFIQ |
| Underlying | OUST | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $2m | the issuer’s own daily fund list, as of Oct 8, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, Apr 22, 2026 |
| First traded | Jul 14, 2026 | ETFIQ |
| Underlying volatility over the window | 70% annualized | ETFIQ |

## Questions

### Did OUSL return +2 times OUST?

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.

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

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.


## Cite this page

ETFIQ, OUSL, leveraged ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/ousl
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at https://etfiq.com/data/.

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