# VSTL (Defiance Daily Target 2X Long VST ETF)

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

Three months to Oct 2, 2026: VSTL returned −21.0% where its own daily promise gave −17.2%, 3.8 points short.

## Key facts

- VSTL, what VST did: −7.2%, as of Oct 2, 2026.
- VSTL, what 2 times a day gives: −17.2%, as of Oct 2, 2026.
- VSTL, what the fund returned: −21.0%, as of Oct 2, 2026.
- VSTL, the fund itself cost: −3.8 pts, as of Oct 2, 2026.
- VSTL, net assets: $17m (the issuer’s own daily fund list, as of Oct 1, 2026).
- VSTL, expense ratio: 1.30% (485BPOS XBRL, Aug 26, 2026).

## VSTL over each window to Oct 2, 2026

| Window | Fund | VST | +2x the move | Difference | VST moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −6.6% | −2.2% | −4.5% | −2.1 pts | 29% |
| 3 months | −21.0% | −7.2% | −14.3% | −6.7 pts | 39% |
| 6 months | −28.6% | −7.1% | −14.2% | −14.4 pts | 42% |
| 1 year | −68.6% | −30.5% | −61.0% | −7.7 pts | 48% |
| Since launch | −66.1% | −25.4% | −50.9% | −15.3 pts | 47% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of VST, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.94 times, against +2 stated | ETFIQ |
| Underlying | VST | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $17m | the issuer’s own daily fund list, as of Oct 1, 2026 |
| Expense ratio | 1.30% | 485BPOS XBRL, Aug 26, 2026 |
| Launched | Jul 22, 2025 | ETFIQ |
| Underlying volatility over the window | 39% annualized | ETFIQ |

## Questions

### Did VSTL return +2 times VST?

Over the window to Oct 2, 2026, VST moved −7.2% and VSTL returned −21.0%. 2 times that move is −14.3%, so the fund came out 6.7 points short of it.

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

Because it resets daily. VSTL 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, VSTL, data as of Oct 2, 2026. https://etfiq.com/funds/vstl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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