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LMNX

GradeCNASDAQ Global Market

Daily Target 2X Long LMND ETF

Leveraged · Defiance · Inception 2025-10-15

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$8.13−0.22 (−2.67%)

At close: Aug 20, 2026, 4:00 PM EDT

History starts Oct 16, 2025.History starts Oct 16, 2025.
Intraday session: down, 39 prints from 8.36 to 8.13. Range 7.99 to 8.39. Use the arrow keys to read each point.$8.00$8.20$8.30$8.4010 AM12 PM2 PM4 PM
Expense ratio
1.31%
Fund size
$4M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
9
Volume · 30D
0M sh
NAV per share
$8.37
52W range
low $6.90high $55.00

The ETF.net LMNX Grade

C

40/ 100

Confidence High

Six-pillar profile for LMNX. Scores out of 100: Cost 27, Risk 37, Mission 83, Tradability 18, Holdings not scored, Durability 38. Strongest: Mission (83). Weakest: Tradability (18). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned43This cap took−3Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 27
    —

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 83
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 37
    —

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 18
    —

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 38
    —

Graded as of Aug 20, 2026 · Based on 5 of 6 pillars

Our read on LMNX

ETF.net Research

CMost 2x single-stock ETFs bolt leverage onto mega-caps. This one points at Lemonade, a small insurtech that already swings hard. It aims for twice LMND's daily move, resets every day, and is built for short holding periods by design.

Stated mandate

The Fund seeks daily investment results equal to two times the daily percentage change in Lemonade, Inc.'s share price before fees and expenses.

Why people hold it

  1. 01One job: twice Lemonade's daily percentage move, before fees. No stock picking, no hedging, no manager discretion to second-guess.defianceetfs.com
  2. 02It has delivered that two-times daily target with little slippage, which is the whole ballgame for a leveraged fund.
  3. 03The leverage lives inside the fund. You hold it in an ordinary brokerage account, with no margin agreement to sign and no borrowed money of your own to unwind.defianceetfs.com
  4. 04Levered single-stock funds crowd around mega-caps (AAPU, GGLL, AMDG). This one aims at a small insurtech instead, a corner of the market few of them reach.

Worth knowing

  1. 01At 1.31% a year, it costs more than the largest 2x single-stock lines, which run 0.75% (UNHG, ASMG) to 0.96% (AAPU, GGLL).
  2. 02The daily reset compounds. Over choppy multi-day stretches, a round trip in LMND can leave the fund behind twice the stock's move for that period.defianceetfs.com
  3. 03It launched in October 2025, so history is thin, and it sits among the smaller, less actively traded funds in a crowded category. Limit orders earn their keep.

LMNX Holdings

As of Aug 20, 2026, 3:29 PM
Asset class
Stocks
Holdings
9
Top-10 weight
225%
Largest holding
LEMONADE INC SWAP MAREX38.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—LEMONADE INC SWAP MAREX38.63%32,158$2M—
002—LEMONADE, INC.-SWAP-NBCB-L37.72%31,400$2M—
003—LEMONADE INC SWAP NOMURA-L36.54%30,417$2M—
004—LEMONADE INC SWAP JNST-L32.79%27,300$1M—
005—LEMONADE INC SWAP CANTOR29.44%24,509$1M—
006—LEMONADE INC SWAP CS24.99%20,807$1M—
007—United States Treasury Bill 08/27/202615.93%680,000$680K—
008—First American Government Obligations Fund 12/01/20318.93%381,135$381K—

Showing 1–8 of 8 holdings

LMNX Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Performance data is unavailable.

Returns run to the last market close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for LMNX. Periods over one year show the average yearly return.
PeriodLMNX
Year to dateHistory unavailable—
1 monthHistory unavailable—
3 monthsHistory unavailable—
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsHistory unavailable—per year

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual return data is unavailable.

LMNX in the news

ETF.net Research hasn’t filed on LMNX yet — coverage lands here as it’s written.

LMNX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months

Distribution data unavailable.

LMNX Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
No data available
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
No data available
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−2.06
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

LMNX Cost

Expense Ratio
1.31%