{
 "ticker": "PLU",
 "name": "Defiance Daily Target 2X Long PL ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/plu",
 "html": "https://etfiq.com/funds/plu",
 "markdown": "https://etfiq.com/funds/plu.md",
 "as_of": "2026-10-02",
 "verdict": "Three months to Oct 2, 2026: PLU returned \u221274.3% where its own daily promise gave \u221271.8%, 2.5 points short.",
 "key_facts": [
  {
   "key": "what_pl_did",
   "label": "What PL did",
   "value": "\u221244.2%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "PLU, what PL did: \u221244.2%, as of Oct 2, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221271.8%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "PLU, what 2 times a day gives: \u221271.8%, as of Oct 2, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221274.3%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "PLU, what the fund returned: \u221274.3%, as of Oct 2, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22122.5 pts",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "PLU, the fund itself cost: \u22122.5 pts, as of Oct 2, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$8m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026",
   "as_of": "2026-10-02",
   "sentence": "PLU, net assets: $8m (the issuer\u2019s own daily fund list, as of Oct 1, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.42%",
   "source": "485BPOS XBRL, Aug 25, 2026",
   "as_of": "2026-10-02",
   "sentence": "PLU, expense ratio: 1.42% (485BPOS XBRL, Aug 25, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of PL, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+1.68 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "PL",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$8m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.42%",
   "source": "485BPOS XBRL, Aug 25, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 7, 2026",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "59% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221228.4%",
   "PL": "\u221212.5%",
   "+2x the move": "\u221224.9%",
   "Difference": "\u22123.5 pts",
   "PL moved about": "62%"
  },
  {
   "window": "3 months",
   "Fund": "\u221274.3%",
   "PL": "\u221244.2%",
   "+2x the move": "\u221288.5%",
   "Difference": "+14.2 pts",
   "PL moved about": "59%"
  },
  {
   "window": "6 months",
   "Fund": "\u221286.9%",
   "PL": "\u221251.2%",
   "+2x the move": "\u2212102.5%",
   "Difference": "+15.6 pts",
   "PL moved about": "84%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221276.1%",
   "PL": "\u221222.6%",
   "+2x the move": "\u221245.2%",
   "Difference": "\u221230.9 pts",
   "PL moved about": "93%"
  }
 ],
 "questions": [
  {
   "q": "Did PLU return +2 times PL?",
   "a": "Over the window to Oct 2, 2026, PL moved \u221244.2% and PLU returned \u221274.3%. 2 times that move is \u221288.5%, so the fund came out 14.2 points ahead of it."
  },
  {
   "q": "Why does PLU not return +2 times over a year?",
   "a": "Because it resets daily. PLU 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)."
}