AVXX vs. LMNX

Last updated Jun 23, 2026

AVXX (Defiance Daily Target 2X Long AVAV ETF) and LMNX (Defiance Daily Target 2X Long LMND ETF) are both Leveraged Equities funds from Defiance ETFs. Both are actively managed. At a 0.39 correlation, their price movements are largely independent. Both charge a 1.31% expense ratio.

Performance

AVXX vs. LMNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long AVAV ETF (AVXX) and Defiance Daily Target 2X Long LMND ETF (LMNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVXX achieves a -75.03% return, which is significantly lower than LMNX's -56.45% return.

AVXX

• 1D: -21.27%
• 1M: -31.30%
• YTD: -75.03%
• 6M: -77.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LMNX

• 1D: -5.86%
• 1M: -1.55%
• YTD: -56.45%
• 6M: -67.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVXX vs. LMNX - Yearly Performance Comparison

	2026 (YTD)	2025
AVXX Defiance Daily Target 2X Long AVAV ETF	-75.03%	-60.92%
LMNX Defiance Daily Target 2X Long LMND ETF	-56.45%	59.12%

Correlation

The correlation between AVXX and LMNX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025	0.39

Return for Risk

AVXX vs. LMNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long AVAV ETF (AVXX) and Defiance Daily Target 2X Long LMND ETF (LMNX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

AVXX vs. LMNX - Drawdown Comparison

The maximum AVXX drawdown since its inception was -90.84%, which is greater than LMNX's maximum drawdown of -79.62%. Use the drawdown chart below to compare losses from any high point for AVXX and LMNX.

Drawdown Indicators

	AVXX	LMNX	Difference
Max Drawdown Largest peak-to-trough decline	-90.84%	-79.62%	-11.22%
Current Drawdown Current decline from peak	-90.84%	-75.04%	-15.80%
Average Drawdown Average peak-to-trough decline	-63.29%	-43.41%	-19.88%

Volatility

Volatility by Period

	AVXX	LMNX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	154.27%	170.24%	-15.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	154.27%	170.24%	-15.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	154.27%	170.24%	-15.97%

AVXX vs. LMNX - Expense Ratio Comparison

Both AVXX and LMNX have an expense ratio of 1.31%.

Dividends

AVXX vs. LMNX - Dividend Comparison

AVXX's dividend yield for the trailing twelve months is around 1.44%, while LMNX has not paid dividends to shareholders.

Position	TTM	2025
AVXX Defiance Daily Target 2X Long AVAV ETF	1.44%	0.36%
LMNX Defiance Daily Target 2X Long LMND ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVXX and LMNX in my portfolio?

AVXX and LMNX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVXX or LMNX?

Both ETFs have the same 1.31% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVXX or LMNX?

AVXX and LMNX have the same expense ratio: 1.31% per year.

Which ETF pays a higher dividend yield, AVXX or LMNX?

AVXX has the higher dividend yield at 1.44%, compared with 0.00% for LMNX.