# Tidal Trust II - Defiance Daily Target 2X Long XOVR ETF (XOVL): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/xovl for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Defiance · Asset class: — - Strategy: Leveraged · Inception: 2026-05-04 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 com... ## Key Facts | Metric | Value | |---|---| | Price | $19.43 | | Expense Ratio | 1.31% | | Assets Under Management | $4.3M | | NAV | $19.41 | | Holdings Count | 8 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | — | | 52-Week Range | $16.91 – $25.17 | | Beta | 7.22 | ## Frequently Asked Questions ### 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. ### Does XOVL pay a dividend? Tidal Trust II - Defiance Daily Target 2X Long XOVR ETF (XOVL) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does XOVL pay dividends? Tidal Trust II - Defiance Daily Target 2X Long XOVR ETF pays dividends on its published schedule. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is XOVL's dividend yield? XOVL's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is XOVL's next ex-dividend date? XOVL hasn't announced its next ex-date yet. Once declared it'll appear at the top of the dividend history table on this page. ### How much will XOVL's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.31% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does XOVL charge its expense ratio? The expense ratio is deducted in tiny daily slices from XOVL's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does XOVL cost more than a fund like VOO? XOVL is a leveraged fund (current expense ratio 1.31%). Daily-reset leverage products carry swap and financing costs that don't exist on a plain-vanilla equity ETF. The Cost Verdict card compares against the leveraged/inverse cohort where these costs are the norm. ### Are there cheaper alternatives to XOVL? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as XOVL (1.31%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/xovl - Distribution history: https://www.dividenddata.com/funds/xovl/dividend - Holdings & diversification: https://www.dividenddata.com/funds/xovl/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/xovl/expenses - Peer comparison: https://www.dividenddata.com/funds/xovl/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.