# STXL (Defiance Daily Target 2X Long STX ETF)

Defiance · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: STXL returned −15.4% where its own daily promise gave −11.9%, 3.5 points short.

## Key facts

- STXL, what STX did: +0.9%, as of Sep 30, 2026.
- STXL, what 2 times a day gives: −11.9%, as of Sep 30, 2026.
- STXL, what the fund returned: −15.4%, as of Sep 30, 2026.
- STXL, the fund itself cost: −3.5 pts, as of Sep 30, 2026.
- STXL, net assets: $20m (the issuer’s own daily fund list, as of Sep 30, 2026).
- STXL, expense ratio: 1.31% (485BPOS XBRL, Apr 22, 2026).

## STXL over each window to Sep 30, 2026

| Window | Fund | STX | +2x the move | Difference | STX moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +20.0% | +11.4% | +22.9% | −2.8 pts | 52% |
| 3 months | −15.4% | +0.9% | +1.7% | −17.1 pts | 75% |
| Since launch | +77.7% | +57.2% | +114.4% | −36.7 pts | 75% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of STX, reset daily | ETFIQ |
| Multiple a holder actually got over the window | STX moved +0.9% over this window, too little to read a multiple from | ETFIQ |
| Underlying | STX | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $20m | the issuer’s own daily fund list, as of Sep 30, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, Apr 22, 2026 |
| Launched | Apr 23, 2026 | ETFIQ |
| Underlying volatility over the window | 75% annualized | ETFIQ |

## Questions

### Did STXL return +2 times STX?

Over the window to Sep 30, 2026, STX moved +0.9% and STXL returned −15.4%. 2 times that move is +1.7%, so the fund came out 17.1 points short of it.

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

Because it resets daily. STXL 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.

### Which +2x STX ETF tracked its stated multiple most closely?

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.


## Cite this page

ETFIQ, STXL, data as of Sep 30, 2026. https://etfiq.com/funds/stxl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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