# PONX (Tradr 2X Long PONY Daily ETF)

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

Three months to Oct 2, 2026: PONX returned −29.6% where its own daily promise gave −26.2%, 3.3 points short.

## Key facts

- PONX, what PONY did: −11.1%, as of Oct 2, 2026.
- PONX, what 2 times a day gives: −26.2%, as of Oct 2, 2026.
- PONX, what the fund returned: −29.6%, as of Oct 2, 2026.
- PONX, the fund itself cost: −3.3 pts, as of Oct 2, 2026.
- PONX, net assets: $3m (the issuer’s own daily fund list, as of Oct 2, 2026).
- PONX, expense ratio: 1.30% (485BPOS XBRL, Jul 23, 2026).

## PONX over each window to Oct 2, 2026

| Window | Fund | PONY | +2x the move | Difference | PONY moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −27.8% | −13.7% | −27.3% | −0.5 pts | 48% |
| 3 months | −29.6% | −11.1% | −22.3% | −7.3 pts | 51% |
| 6 months | −67.1% | −34.2% | −68.3% | +1.2 pts | 60% |
| 1 year | −96.8% | −74.8% | −149.5% | +52.7 pts | 69% |
| Since launch | −92.6% | −60.0% | −120.1% | +27.5 pts | 71% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of PONY, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.66 times, against +2 stated | ETFIQ |
| Underlying | PONY | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $3m | the issuer’s own daily fund list, as of Oct 2, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Jul 23, 2026 |
| Launched | Sep 9, 2025 | ETFIQ |
| Underlying volatility over the window | 51% annualized | ETFIQ |

## Questions

### Did PONX return +2 times PONY?

Over the window to Oct 2, 2026, PONY moved −11.1% and PONX returned −29.6%. 2 times that move is −22.3%, so the fund came out 7.3 points short of it.

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

Because it resets daily. PONX 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, PONX, data as of Oct 2, 2026. https://etfiq.com/funds/ponx
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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