- Issuer
- Defiance
- Inception Date
- Jul 30, 2025
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Distribution Policy
- Accumulating
- Asset Class
- Equity
Highlights
- Avg. Volume (1M)
- 8K
- Avg. Volume Value (1M)
- $150.63K
Share Price Chart
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Performance
DKNX Performance Chart
Defiance Daily Target 2X Long DKNG ETF (DKNX) is down 65.6% since the beginning of the year. DKNX is currently trading at $16 per share.
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Returns By Period
Defiance Daily Target 2X Long DKNG ETF (DKNX) has returned -65.56% so far this year and -81.90% over the past 12 months.
Defiance Daily Target 2X Long DKNG ETF
- 1D
- -1.83%
- 1M
- -19.99%
- 6M
- -43.40%
- YTD
- -65.56%
- 1Y
- -81.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -83.73%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
DKNX Monthly Returns History
Based on dividend-adjusted daily data since Jul 31, 2025, DKNX's average daily return is -0.51%, while the average monthly return is -10.67%.
Historically, 38% of months were positive and 62% were negative. The best month was Nov 2025 with a return of +13.0%, while the worst month was Sep 2025 at -41.2%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 3 months.
On a daily basis, DKNX closed higher 48% of trading days. The best single day was Jun 9, 2026 with a return of +23.1%, while the worst single day was Feb 13, 2026 at -27.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -39.15% | -29.10% | -20.66% | 11.99% | 7.43% | -0.32% | -16.10% | -65.56% | |||||
| 2025 | -4.51% | 10.87% | -41.19% | -35.98% | 12.96% | 5.01% | -52.72% |
Benchmark Metrics
Defiance Daily Target 2X Long DKNG ETF has an annualized alpha of -78.81%, beta of 1.46, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since July 31, 2025.
- This ETF participated in 543.43% of S&P 500 Index downside but only -164.54% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.04 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -78.81%
- Beta
- 1.46
- R²
- 0.04
- Upside Capture
- -164.54%
- Downside Capture
- 543.43%
Expense Ratio
DKNX has a high expense ratio of 1.29%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
DKNX ranks 2 for risk / return — above 2% of ETFs peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Defiance Daily Target 2X Long DKNG ETF (DKNX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DKNX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.25 | ||
| Sortino ratioReturn per unit of downside risk | -3.60 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.25 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.00 | -2.97 |
| Martin ratioReturn relative to average drawdown | -1.24 | 8.49 | -9.73 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Defiance Daily Target 2X Long DKNG ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Defiance Daily Target 2X Long DKNG ETF was 86.10%, occurring on Mar 27, 2026. The portfolio has not yet recovered.
The current Defiance Daily Target 2X Long DKNG ETF drawdown is 84.81%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-86.10%Mar 2026 | 7mo | — | 11mo 8dAug 2025 - now | — |
-15.17%Aug 2025 | 11d | 11d | 22dJul 2025 - Aug 2025 | — |
-1.36%Aug 2025 | 1d | 1d | 1dAug 2025 - Aug 2025 | — |
Drawdown Indicators
| DKNX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.10% | -56.78% | -29.32% |
Max Drawdown (1Y)Largest decline over 1 year | -86.10% | -9.10% | -77.00% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -84.81% | -1.58% | -83.23% |
Average DrawdownAverage peak-to-trough decline | -61.58% | -10.70% | -50.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.70% | 2.14% | +64.56% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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