{
 "ticker": "RIOX",
 "name": "Defiance Daily Target 2X Long RIOT ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/riox",
 "html": "https://etfiq.com/funds/riox",
 "markdown": "https://etfiq.com/funds/riox.md",
 "as_of": "2026-10-02",
 "verdict": "Three months to Oct 2, 2026: RIOX returned \u221241.1% where its own daily promise gave \u221235.4%, 5.8 points short.",
 "key_facts": [
  {
   "key": "what_riot_did",
   "label": "What RIOT did",
   "value": "\u221210.8%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "RIOX, what RIOT did: \u221210.8%, as of Oct 2, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221235.4%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "RIOX, what 2 times a day gives: \u221235.4%, as of Oct 2, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221241.1%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "RIOX, what the fund returned: \u221241.1%, as of Oct 2, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22125.8 pts",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "RIOX, the fund itself cost: \u22125.8 pts, as of Oct 2, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$13m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026",
   "as_of": "2026-10-02",
   "sentence": "RIOX, net assets: $13m (the issuer\u2019s own daily fund list, as of Oct 1, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.63%",
   "source": "485BPOS XBRL, Aug 25, 2026",
   "as_of": "2026-10-02",
   "sentence": "RIOX, expense ratio: 1.63% (485BPOS XBRL, Aug 25, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of RIOT, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+3.82 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "RIOT",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$13m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.63%",
   "source": "485BPOS XBRL, Aug 25, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 3, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "92% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+3.7%",
   "RIOT": "+5.9%",
   "+2x the move": "+11.8%",
   "Difference": "\u22128.1 pts",
   "RIOT moved about": "80%"
  },
  {
   "window": "3 months",
   "Fund": "\u221241.1%",
   "RIOT": "\u221210.8%",
   "+2x the move": "\u221221.5%",
   "Difference": "\u221219.6 pts",
   "RIOT moved about": "92%"
  },
  {
   "window": "6 months",
   "Fund": "+36.3%",
   "RIOT": "+53.4%",
   "+2x the move": "+106.8%",
   "Difference": "\u221270.6 pts",
   "RIOT moved about": "88%"
  },
  {
   "window": "1 year",
   "Fund": "\u221265.7%",
   "RIOT": "+2.5%",
   "+2x the move": "+5.0%",
   "Difference": "\u221270.7 pts",
   "RIOT moved about": "88%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221257.0%",
   "RIOT": "+59.9%",
   "+2x the move": "+119.8%",
   "Difference": "\u2212176.7 pts",
   "RIOT moved about": "85%"
  }
 ],
 "questions": [
  {
   "q": "Did RIOX return +2 times RIOT?",
   "a": "Over the window to Oct 2, 2026, RIOT moved \u221210.8% and RIOX returned \u221241.1%. 2 times that move is \u221221.5%, so the fund came out 19.6 points short of it."
  },
  {
   "q": "Why does RIOX not return +2 times over a year?",
   "a": "Because it resets daily. RIOX 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)."
}