OSSL +2x Defiance Daily Target 2X Long OSS ETF

BULL ETF standard · Issuer Defiance · Tracks OSS · Listed 2026-05-26

Quote & options All leveraged ETFs

Implied AUM

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shares out × price

Last close

$3.64

20261001

30-day avg volume

2,480

no listed options

OSSL realized

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what holders actually earned

Theoretical +2x

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+2x × OSS's return

Decay gap

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realized minus theoretical

Realized vs theoretical +2x OSS

Cumulative return of OSSL against a clean +2x of OSS's return over the same window; the red line (right axis) is the gap between them.

How OSSL works

OSSL targets +2x the daily return of OSS — not the return over longer windows. It rebalances every day, so over weeks and months its result drifts away from +2x × the index, usually downward when the market chops around.

The maths: the drag is roughly −½ × N × (N−1) × σ² per period (N = leverage, σ = the index's volatility). For a +2x fund on an index with 25% annual volatility that is several percent a year before fees — the red line above is that drag measured.

Short-term trades (a day or a few) are what these funds are built for. Premium sellers like their rich option IV — see the quote page. Multi-day directional bets work in strong trends and get eaten in chop.

Not investment advice.