{
 "ticker": "SOUX",
 "name": "Defiance Daily Target 2X Long SOUN ETF",
 "issuer": "Defiance",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/soux",
 "html": "https://etfiq.com/funds/soux",
 "markdown": "https://etfiq.com/funds/soux.md",
 "as_of": "2026-10-02",
 "verdict": "Three months to Oct 2, 2026: SOUX returned \u221234.8% where its own daily promise gave \u221227.1%, 7.7 points short.",
 "key_facts": [
  {
   "key": "what_soun_did",
   "label": "What SOUN did",
   "value": "\u221210.8%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "SOUX, what SOUN did: \u221210.8%, as of Oct 2, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221227.1%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "SOUX, what 2 times a day gives: \u221227.1%, as of Oct 2, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221234.8%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "SOUX, what the fund returned: \u221234.8%, as of Oct 2, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22127.7 pts",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "SOUX, the fund itself cost: \u22127.7 pts, as of Oct 2, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$7m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026",
   "as_of": "2026-10-02",
   "sentence": "SOUX, net assets: $7m (the issuer\u2019s own daily fund list, as of Oct 1, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.32%",
   "source": "485BPOS XBRL, Aug 26, 2026",
   "as_of": "2026-10-02",
   "sentence": "SOUX, expense ratio: 1.32% (485BPOS XBRL, Aug 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of SOUN, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+3.21 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "SOUN",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$7m",
   "source": "the issuer\u2019s own daily fund list, as of Oct 1, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.32%",
   "source": "485BPOS XBRL, Aug 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jun 24, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "60% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221229.9%",
   "SOUN": "\u221213.9%",
   "+2x the move": "\u221227.7%",
   "Difference": "\u22122.2 pts",
   "SOUN moved about": "38%"
  },
  {
   "window": "3 months",
   "Fund": "\u221234.8%",
   "SOUN": "\u221210.8%",
   "+2x the move": "\u221221.7%",
   "Difference": "\u221213.1 pts",
   "SOUN moved about": "60%"
  },
  {
   "window": "6 months",
   "Fund": "\u221251.1%",
   "SOUN": "\u221213.9%",
   "+2x the move": "\u221227.7%",
   "Difference": "\u221223.4 pts",
   "SOUN moved about": "68%"
  },
  {
   "window": "1 year",
   "Fund": "\u221295.6%",
   "SOUN": "\u221267.3%",
   "+2x the move": "\u2212134.5%",
   "Difference": "+38.9 pts",
   "SOUN moved about": "70%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221289.2%",
   "SOUN": "\u221240.5%",
   "+2x the move": "\u221281.1%",
   "Difference": "\u22128.1 pts",
   "SOUN moved about": "76%"
  }
 ],
 "questions": [
  {
   "q": "Did SOUX return +2 times SOUN?",
   "a": "Over the window to Oct 2, 2026, SOUN moved \u221210.8% and SOUX returned \u221234.8%. 2 times that move is \u221221.7%, so the fund came out 13.1 points short of it."
  },
  {
   "q": "Why does SOUX not return +2 times over a year?",
   "a": "Because it resets daily. SOUX 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)."
}