DKNX +2x Defiance Daily Target 2X Long DKNG ETF

DKNX

ETF +2x BULL standard
Defiance Daily Target 2X Long DKNG ETF
Issuer: Defiance · Tracks: DKNG · Listed: 2025-07-30
Implied AUM
$4.6M
Last Close
$17.81
20260720
30d Avg Vol
22,537
Options
—
Realized return vs theoretical +2x DKNG
Other leveraged products tracking DKNG
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
DKUP +2x BULL T-Rex T-REX 2X Long DKNG Daily Target ETF $1.3M 3,129

How DKNX works

DKNX targets +2x the daily return of DKNG — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on DKNX carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.