# QSU (Defiance Daily Target 2X Long QS ETF)

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

Three months to Oct 2, 2026: QSU returned −66.4% where its own daily promise gave −62.2%, 4.2 points short.

## Key facts

- QSU, what QS did: −35.4%, as of Oct 2, 2026.
- QSU, what 2 times a day gives: −62.2%, as of Oct 2, 2026.
- QSU, what the fund returned: −66.4%, as of Oct 2, 2026.
- QSU, the fund itself cost: −4.2 pts, as of Oct 2, 2026.
- QSU, net assets: $6m (the issuer’s own daily fund list, as of Oct 1, 2026).
- QSU, expense ratio: 1.32% (485BPOS XBRL, Aug 26, 2026).

## QSU over each window to Oct 2, 2026

| Window | Fund | QS | +2x the move | Difference | QS moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −33.3% | −16.1% | −32.3% | −1.0 pts | 40% |
| 3 months | −66.4% | −35.4% | −70.7% | +4.3 pts | 60% |
| 6 months | −67.8% | −28.1% | −56.3% | −11.5 pts | 69% |
| Since launch | −96.5% | −70.5% | −141.1% | +44.6 pts | 73% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of QS, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.88 times, against +2 stated | ETFIQ |
| Underlying | QS | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $6m | the issuer’s own daily fund list, as of Oct 1, 2026 |
| Expense ratio | 1.32% | 485BPOS XBRL, Aug 26, 2026 |
| Launched | Oct 21, 2025 | ETFIQ |
| Underlying volatility over the window | 60% annualized | ETFIQ |

## Questions

### Did QSU return +2 times QS?

Over the window to Oct 2, 2026, QS moved −35.4% and QSU returned −66.4%. 2 times that move is −70.7%, so the fund came out 4.3 points ahead of it.

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

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

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