- What does NVOX invest in?
- NVOX uses swap agreements to make bullish bets on NOVO Nordisk A/S - ADR (NVO) share price. NVO designs and manufactures high-performance computer server solutions for data centers and cloud providers. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in NVO's share price through daily rebalancing. As a leveraged product, it is designed for short-term tactical use, not as a long-term investment vehicle. Returns may deviate from the expected 2x if held longer than a single day due to factors like volatility and compounding effects. This strategy is high-risk and does not incorporate a defensive position. NVOX fund could potentially lose value over time, even if NVO's performance is strong. It is expected to invest in US Government securities, money market funds, short-term bond ETFs, and corporate debt as collateral.
- What is the expense ratio of NVOX?
- Defiance Daily Target 2X Long NVO ETF (NVOX) charges an expense ratio of 1.30%. This is the annual fee deducted from fund assets to cover management and operations.
- Is NVOX a good long-term hold?
- NVOX is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.
- How does NVOX's daily reset work?
- NVOX rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.
- How big is NVOX?
- Defiance Daily Target 2X Long NVO ETF (NVOX) manages $40.9M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.
- Is NVOX actively managed or an index fund?
- NVOX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.
