# SOUX (Defiance Daily Target 2X Long SOUN ETF)

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

Three months to Oct 2, 2026: SOUX returned −34.8% where its own daily promise gave −27.1%, 7.7 points short.

## Key facts

- SOUX, what SOUN did: −10.8%, as of Oct 2, 2026.
- SOUX, what 2 times a day gives: −27.1%, as of Oct 2, 2026.
- SOUX, what the fund returned: −34.8%, as of Oct 2, 2026.
- SOUX, the fund itself cost: −7.7 pts, as of Oct 2, 2026.
- SOUX, net assets: $7m (the issuer’s own daily fund list, as of Oct 1, 2026).
- SOUX, expense ratio: 1.32% (485BPOS XBRL, Aug 26, 2026).

## SOUX over each window to Oct 2, 2026

| Window | Fund | SOUN | +2x the move | Difference | SOUN moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −29.9% | −13.9% | −27.7% | −2.2 pts | 38% |
| 3 months | −34.8% | −10.8% | −21.7% | −13.1 pts | 60% |
| 6 months | −51.1% | −13.9% | −27.7% | −23.4 pts | 68% |
| 1 year | −95.6% | −67.3% | −134.5% | +38.9 pts | 70% |
| Since launch | −89.2% | −40.5% | −81.1% | −8.1 pts | 76% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of SOUN, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +3.21 times, against +2 stated | ETFIQ |
| Underlying | SOUN | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $7m | the issuer’s own daily fund list, as of Oct 1, 2026 |
| Expense ratio | 1.32% | 485BPOS XBRL, Aug 26, 2026 |
| Launched | Jun 24, 2025 | ETFIQ |
| Underlying volatility over the window | 60% annualized | ETFIQ |

## Questions

### Did SOUX return +2 times SOUN?

Over the window to Oct 2, 2026, SOUN moved −10.8% and SOUX returned −34.8%. 2 times that move is −21.7%, so the fund came out 13.1 points short of it.

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

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.


## Cite this page

ETFIQ, SOUX, data as of Oct 2, 2026. https://etfiq.com/funds/soux
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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