SOFX +2x Defiance Daily Target 2X Long SOFI ETF
BULL ETF standard · Issuer Defiance · Tracks SOFI · Listed 2025-01-15
Realized vs theoretical +2x SOFI
Cumulative return of SOFX against a clean +2x of SOFI's return over the same window; the red line (right axis) is the gap between them.
Other leveraged products on SOFI
1| Symbol | Factor | Direction | Issuer | Name | Implied AUM | 30d volume | Options |
|---|---|---|---|---|---|---|---|
| SOFA | +2x | BULL | Direxion | Direxion Daily SOFI Bull 2X ETF | — | 72,552 |
How SOFX works
SOFX targets +2x the daily return of SOFI — 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.