# XOVL (Defiance Daily Target 2X Long XOVR ETF)

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

Three months to Oct 2, 2026: XOVL returned −4.5% where its own daily promise gave +5.7%, 10.1 points short.

## Key facts

- XOVL, what XOVR did: +3.6%, as of Oct 2, 2026.
- XOVL, what 2 times a day gives: +5.7%, as of Oct 2, 2026.
- XOVL, what the fund returned: −4.5%, as of Oct 2, 2026.
- XOVL, the fund itself cost: −10.1 pts, as of Oct 2, 2026.
- XOVL, net assets: $10m (the issuer’s own daily fund list, as of Oct 1, 2026).
- XOVL, expense ratio: 1.31% (485BPOS XBRL, Mar 27, 2026).

## XOVL over each window to Oct 2, 2026

| Window | Fund | XOVR | +2x the move | Difference | XOVR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +6.7% | +5.5% | +11.0% | −4.3 pts | 21% |
| 3 months | −4.5% | +3.6% | +7.2% | −11.7 pts | 25% |
| Since launch | +9.5% | +16.1% | +32.1% | −22.6 pts | 27% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of XOVR, reset daily | ETFIQ |
| Multiple a holder actually got over the window | XOVR moved +3.6% over this window, too little to read a multiple from | ETFIQ |
| Underlying | XOVR | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $10m | the issuer’s own daily fund list, as of Oct 1, 2026 |
| Expense ratio | 1.31% | 485BPOS XBRL, Mar 27, 2026 |
| Launched | May 5, 2026 | ETFIQ |
| Underlying volatility over the window | 25% annualized | ETFIQ |

## Questions

### Did XOVL return +2 times XOVR?

Over the window to Oct 2, 2026, XOVR moved +3.6% and XOVL returned −4.5%. 2 times that move is +7.2%, so the fund came out 11.7 points short of it.

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

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

HTML: https://etfiq.com/funds/xovl  ·  JSON: https://etfiq.com/funds/xovl.json