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Beacon

SMCXDefiance Daily Target 2X Long SMCI ETF

Take a bet1y track recordRanked #201 of 775 in this goal

Seeks daily investment results of 200% of the daily percentage change in the share price of the Underlying Security.

By Defiance ETFs LLC · Launched 2024

Annual Cost

1.43%

#5,392 of 5,562 · expensive

Fund Size

$266M

#2,069 of 5,562 · mid-size

Return (1Y)Goal

-86.7%

Track Record

1 year

#3,755 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$1,261-87.4%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Equity

Region

North america

Strategy

Leveraged

What it actually holds

By weight

Concentration

Top 9 holdings = 17.6% of fund✓ well diversified

TREASURY BILL
12.0%
N/A
1.4%
First American Government Obli
1.0%
N/A
0.7%
N/A
0.7%
N/A
0.7%
N/A
0.5%
N/A
0.4%
N/A
0.2%

Asset allocation

Other
181.4%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
170.7%High

Year-on-year price swings

Max drawdown
-99.0%Severe

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
NASDAQ Global Select Market

Full fund details

Objective
Seeks daily investment results of 200% of the daily percentage change in the share price of the Underlying Security.
Strategy
Employs derivatives, including swap agreements and listed options, to achieve 2x daily exposure to the Underlying Security. Targets this performance strictly on a daily basis, not over longer periods.
Inception date
August 21, 2024
Fund family
Defiance ETFs LLC

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Leveraged single stock
Critical

Leveraged single-stock ETF — documented structural drag

Single-stock leveraged ETFs magnify one stock's daily move. Research on these products (Bessembinder et al., 2024) finds 56% posted negative absolute returns over one year, with ~9.5% annual drag versus the underlying stock. Daily rebalancing plus financing costs work against the investor on any holding period longer than a few days.

Source: Bessembinder, Cooper, Zhang — 'Leveraged Single-Stock ETFs' (SSRN 2024)

Why we flagged this: strategy=leveraged + single_stock_wrapper

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19