SOFX +2x Defiance Daily Target 2X Long SOFI ETF

SOFX

ETF +2x BULL standard
Defiance Daily Target 2X Long SOFI ETF
Issuer: Defiance · Tracks: SOFI · Listed: 2025-01-15
Implied AUM
$78.6M
Last Close
$9.06
20260720
30d Avg Vol
1,398,793
Options
available
Realized return vs theoretical +2x SOFI
Other leveraged products tracking SOFI
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
SOFA +2x BULL Direxion Direxion Daily SOFI Bull 2X ETF $8.3M 77,627

How SOFX works

SOFX targets +2x the daily return of SOFI — 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 SOFX 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.