LMNX vs. AVXX

Last updated Jun 24, 2026

LMNX (Defiance Daily Target 2X Long LMND ETF) and AVXX (Defiance Daily Target 2X Long AVAV 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

LMNX vs. AVXX - Performance Comparison

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

Returns By Period

In the year-to-date period, LMNX achieves a -55.70% return, which is significantly higher than AVXX's -75.83% return.

LMNX

• 1D: 1.73%
• 1M: 0.16%
• YTD: -55.70%
• 6M: -64.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVXX

• 1D: -3.19%
• 1M: -33.49%
• YTD: -75.83%
• 6M: -79.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LMNX vs. AVXX - Yearly Performance Comparison

	2026 (YTD)	2025
LMNX Defiance Daily Target 2X Long LMND ETF	-55.70%	59.12%
AVXX Defiance Daily Target 2X Long AVAV ETF	-75.83%	-60.92%

Correlation

The correlation between LMNX and AVXX 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

LMNX vs. AVXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long LMND ETF (LMNX) and Defiance Daily Target 2X Long AVAV ETF (AVXX). 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

LMNX vs. AVXX - Drawdown Comparison

The maximum LMNX drawdown since its inception was -79.62%, smaller than the maximum AVXX drawdown of -91.13%. Use the drawdown chart below to compare losses from any high point for LMNX and AVXX.

Drawdown Indicators

	LMNX	AVXX	Difference
Max Drawdown Largest peak-to-trough decline	-79.62%	-91.13%	+11.51%
Current Drawdown Current decline from peak	-74.61%	-91.13%	+16.52%
Average Drawdown Average peak-to-trough decline	-43.60%	-63.46%	+19.86%

Volatility

Volatility by Period

	LMNX	AVXX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	169.75%	153.82%	+15.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	169.75%	153.82%	+15.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	169.75%	153.82%	+15.93%

LMNX vs. AVXX - Expense Ratio Comparison

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

Dividends

LMNX vs. AVXX - Dividend Comparison

LMNX has not paid dividends to shareholders, while AVXX's dividend yield for the trailing twelve months is around 1.49%.

Position	TTM	2025
AVXX Defiance Daily Target 2X Long AVAV ETF	1.49%	0.36%
LMNX Defiance Daily Target 2X Long LMND ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both LMNX and AVXX in my portfolio?

LMNX and AVXX 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, LMNX or AVXX?

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, LMNX or AVXX?

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

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

AVXX has the higher dividend yield at 1.49%, compared with 0.00% for LMNX.