# RCAX (Defiance Daily Target 2X Long RCAT ETF)

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

Three months to Oct 2, 2026: RCAX returned −71.8% where its own daily promise gave −68.0%, 3.8 points short.

## Key facts

- RCAX, what RCAT did: −38.7%, as of Oct 2, 2026.
- RCAX, what 2 times a day gives: −68.0%, as of Oct 2, 2026.
- RCAX, what the fund returned: −71.8%, as of Oct 2, 2026.
- RCAX, the fund itself cost: −3.8 pts, as of Oct 2, 2026.
- RCAX, net assets: $5m (the issuer’s own daily fund list, as of Oct 1, 2026).
- RCAX, expense ratio: 1.30% (485BPOS XBRL, Aug 24, 2026).

## RCAX over each window to Oct 2, 2026

| Window | Fund | RCAT | +2x the move | Difference | RCAT moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −45.0% | −23.1% | −46.2% | +1.2 pts | 55% |
| 3 months | −71.8% | −38.7% | −77.4% | +5.6 pts | 78% |
| 6 months | −87.7% | −50.5% | −101.1% | +13.4 pts | 97% |
| Since launch | −92.5% | −55.1% | −110.2% | +17.6 pts | 105% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of RCAT, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.86 times, against +2 stated | ETFIQ |
| Underlying | RCAT | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $5m | the issuer’s own daily fund list, as of Oct 1, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Aug 24, 2026 |
| Launched | Feb 3, 2026 | ETFIQ |
| Underlying volatility over the window | 78% annualized | ETFIQ |

## Questions

### Did RCAX return +2 times RCAT?

Over the window to Oct 2, 2026, RCAT moved −38.7% and RCAX returned −71.8%. 2 times that move is −77.4%, so the fund came out 5.6 points ahead of it.

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

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

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