NVOX
Defiance Daily Target 2X Long NVO ETF
Defiance Daily Target 2X Long NVO ETF seeks to provide daily investment results that correspond to two times the daily performance of a specified index related to Novo Nordisk A/S.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
4.3 M
ASSETS UNDER MGMT
129 bp
EXPENSES
Fund Basics
| Fund sponsor | Defiance |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Dec 02, 2024 |
| Assets (mns) | $4 |
| Expense ratio | 129 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annual |
| Taxation | 1099 |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| NOVO-NORDISK A S ADR SWAP - L - MAR | 141.0 % |
| NOVO-NORDISK A/S-SPONS ADR NOMURA | 55.0 % |
| NOVO NORDISK A/S | 4.0 % |
| CASH & OTHER | -100.0 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -46.7% | -- | -- | -- | -- | -- | -- | -69.0% |
| Dividend Yield | 0.0% | -- | -- | -- | -- | -- | -- | 0.0% |
| Total Returns | -46.7% | -- | -- | -- | -- | -- | -- | -69.0% | Ann. Volatility | 99.2% | -- | -- | -- | -- | -- | -- | 107.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 161 |
| ADV traded (mns) | $1 |
| Turnover | 24.2% |
| Avg. Bid/Ask (% of price) | 0.15% |
Technical Indicators
| Recent close | $6.43 |
| 30d moving avg. | $6.09 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 41 |
| Short interest | 0.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| NVOX (129 bp) Percentile rank | 96 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| NVOX | 129.0 | 15.3 | 144.3 |
| Peer Avg. | 90.6 | 32.2 | 122.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .