- Issuer
- Defiance ETFs
- Inception Date
- Oct 15, 2025
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Domicile
- US
- Distribution Policy
- None
- Asset Class
- Equity
- Assets Under Management
- $5M
Share Price Chart
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Performance
LMNX Performance Chart
Defiance Daily Target 2X Long LMND ETF (LMNX) is down 53.8% since the beginning of the year. LMNX is currently trading at $14 per share.
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Returns By Period
Defiance Daily Target 2X Long LMND ETF
- 1D
- 6.45%
- 1M
- 4.57%
- YTD
- -53.75%
- 6M
- -66.23%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
LMNX Monthly Returns History
Based on dividend-adjusted daily data since Oct 16, 2025, LMNX's average daily return is +0.34%, while the average monthly return is +4.81%. At this rate, an investment would double in approximately 1.2 years.
Historically, 56% of months were positive and 44% were negative. The best month was Nov 2025 with a return of +49.7%, while the worst month was Feb 2026 at -67.8%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 2 months.
On a daily basis, LMNX closed higher 49% of trading days. The best single day was Nov 5, 2025 with a return of +69.3%, while the worst single day was Apr 29, 2026 at -29.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 38.67% | -67.75% | 37.25% | -24.33% | -0.45% | 0.04% | -53.75% | ||||||
| 2025 | 31.05% | 49.68% | -20.88% | 55.19% |
Benchmark Metrics
Defiance Daily Target 2X Long LMND ETF has an annualized alpha of -2.63%, beta of 5.26, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since October 16, 2025.
- This ETF captured 799.14% of S&P 500 Index gains and 434.94% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.17 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
- -2.63%
- Beta
- 5.26
- R²
- 0.17
- Upside Capture
- 799.14%
- Downside Capture
- 434.94%
Expense Ratio
LMNX has a high expense ratio of 1.31%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Defiance Daily Target 2X Long LMND ETF (LMNX) 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.
| LMNX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.35 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.66 | — |
| Martin ratioReturn relative to average drawdown | — | 11.86 | — |
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 LMND 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 LMND ETF was 79.62%, occurring on Jun 5, 2026. The portfolio has not yet recovered.
The current Defiance Daily Target 2X Long LMND ETF drawdown is 73.49%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -79.62%Jun 2026 | 4mo 13d | — | 5mo 23hJan 2026 - now |
2025 bear market2025 | -29.53%Nov 2025 | 9d | 20d | 29dNov 2025 - Dec 2025 |
2025 bear market2025 | -27.35%Dec 2025 | 12d | 12d | 24dDec 2025 - Jan 2026 |
2026 correction2026 | -19.30%Jan 2026 | 7d | 2d | 9dJan 2026 - Jan 2026 |
2025 correction2025 | -16.25%Dec 2025 | 3d | 3d | 6dDec 2025 - Dec 2025 |
Drawdown Indicators
| LMNX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.62% | -56.78% | -22.84% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
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 | -73.49% | -2.49% | -71.00% |
Average DrawdownAverage peak-to-trough decline | -43.23% | -10.72% | -32.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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