- What does XOVL invest in?
- XOVL uses swap agreements to make bullish bets on ERShares Private-Public Crossover ETF (XOVR) share price. XOVR invests in US companies, combining public stocks with limited exposure to private firms (like pre-IPO companies). The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in XOVR'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. XOVL fund could potentially lose value over time, even if XOVR'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 XOVL?
- Tidal Trust II - Defiance Daily Target 2X Long XOVR ETF (XOVL) charges an expense ratio of 1.31%. This is the annual fee deducted from fund assets to cover management and operations.
- What is the duration of XOVL?
- Effective duration measures XOVL's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. XOVL's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of XOVL?
- XOVL's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.
- What is the yield to maturity of XOVL?
- Yield to maturity (YTM) is the total return you'd earn from XOVL if every bond in the portfolio is held to maturity at the current price. XOVL's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.
- Is XOVL a good long-term hold?
- XOVL 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 with 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.
