{
 "ticker": "SOFX",
 "name": "Defiance Daily Target 2X Long SOFI ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/sofx",
 "html": "https://etfiq.com/funds/sofx",
 "markdown": "https://etfiq.com/funds/sofx.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: SOFX returned \u221236.2% where its own daily promise gave \u221232.1%, 4.1 points short.",
 "key_facts": [
  {
   "key": "what_sofi_did",
   "label": "What SOFI did",
   "value": "\u221214.8%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "SOFX, what SOFI did: \u221214.8%, as of Sep 30, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221232.1%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "SOFX, what 2 times a day gives: \u221232.1%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221236.2%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "SOFX, what the fund returned: \u221236.2%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22124.1 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "SOFX, the fund itself cost: \u22124.1 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$55m",
   "source": "the issuer\u2019s own daily fund list, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "SOFX, net assets: $55m (the issuer\u2019s own daily fund list, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.33%",
   "source": "485BPOS XBRL, Aug 28, 2026",
   "as_of": "2026-09-30",
   "sentence": "SOFX, expense ratio: 1.33% (485BPOS XBRL, Aug 28, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of SOFI, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.46 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "SOFI",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$55m",
   "source": "the issuer\u2019s own daily fund list, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.33%",
   "source": "485BPOS XBRL, Aug 28, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 16, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "52% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221225.5%",
   "SOFI": "\u221212.1%",
   "+2x the move": "\u221224.2%",
   "Difference": "\u22121.4 pts",
   "SOFI moved about": "38%"
  },
  {
   "window": "3 months",
   "Fund": "\u221236.2%",
   "SOFI": "\u221214.8%",
   "+2x the move": "\u221229.5%",
   "Difference": "\u22126.7 pts",
   "SOFI moved about": "52%"
  },
  {
   "window": "6 months",
   "Fund": "\u221223.6%",
   "SOFI": "+0.6%",
   "+2x the move": "+1.2%",
   "Difference": "\u221224.8 pts",
   "SOFI moved about": "55%"
  },
  {
   "window": "1 year",
   "Fund": "\u221280.0%",
   "SOFI": "\u221240.5%",
   "+2x the move": "\u221281.0%",
   "Difference": "+1.0 pts",
   "SOFI moved about": "57%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221264.8%",
   "SOFI": "\u22123.6%",
   "+2x the move": "\u22127.1%",
   "Difference": "\u221257.7 pts",
   "SOFI moved about": "60%"
  }
 ],
 "questions": [
  {
   "q": "Did SOFX return +2 times SOFI?",
   "a": "Over the window to Sep 30, 2026, SOFI moved \u221214.8% and SOFX returned \u221236.2%. 2 times that move is \u221229.5%, so the fund came out 6.7 points short of it."
  },
  {
   "q": "Why does SOFX not return +2 times over a year?",
   "a": "Because it resets daily. SOFX 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."
  },
  {
   "q": "Which +2x SOFI ETF tracked its stated multiple most closely?",
   "a": "3 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the figure itself."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}