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Launched

Daily Target 2X Long LUNR ETF

LUNLCboeDefianceDThis 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.

$1.44−0.24 (−14.54%)

As of Nov 2, 2026, 3:59 PM ET

D34/ 100

Rank 304 of 380 in Single-Stock Long Leveraged

D34/100Rank 304 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 1.69 to 1.44. Range 1.43 to 1.76. Use the arrow keys to read each point.1.501.551.601.7510 AM12 PM2 PM4 PM
Expense ratio
1.34%
Fund size
$9M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
9
Avg volume · 30D
1.51M sh
52W range
low $1.54high $56.68
Launched

The ETF.net LUNL Grade

Based on 5 of 6 pillars

D

Score 34 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
304 of 380
Six-pillar profile for LUNL. Scores out of 100: Cost 22, Risk 28, Mission 87, Tradability 59, Holdings not scored, Durability 60. Strongest: Mission (87). Weakest: Cost (22). Based on 5 of 6 pillars.

Score 34 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F22 out of 100
    Rank 296 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A87 out of 100
    Rank 90 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D28 out of 100
    Rank 304 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B59 out of 100
    Rank 135 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B60 out of 100
    Rank 134 of 380

Our read on LUNL

ETF.net Research

In short

DA 2x daily lever on Intuitive Machines, the lunar-lander company. Defiance billed it as the first leveraged ETF on LUNR, and the leverage resets every session, so it is a day-trade tool rather than a buy-and-forget moon bet.

Stated mandate

Seeks daily investment results, before fees and expenses, equal to two times (200%) the daily percentage change in the share price of Intuitive Machines, Inc.; the Fund is intended for single‐day (daily) use.

Why people hold it

  • Defiance launched it in January 2026 as the first 2x daily ETF on Intuitive Machines, so the trade needs no margin account and no options chain.yahoo.com
  • One job: 200% of LUNR's daily move, before fees and expenses. No basket, no index committee, nothing else in the box.defianceetfs.com
  • It has stayed close to its stated 2x daily mark, and it trades actively enough for traders to get in and out inside a session.
  • The reference stock is a space infrastructure name built around lunar access and data services, a corner of the market with few leveraged wrappers.defianceetfs.com

Worth knowing

  • The fee is 1.34%, with no waiver in place, above the norm for leveraged single-stock funds. Leverage Shares' 2x funds such as TSMG (0.76%) and OKTG (0.75%) cost less.
  • Leverage resets daily. Hold past one session and the result depends on the path LUNR takes; the prospectus says the fund is intended for single-day use.
  • Doubling one volatile stock cuts both ways, and the fund has not been paying distributions, so the outcome rides entirely on price.

LUNL Performance

Launched Jan 12, 2026

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

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
LUNL$5,748
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. LUNL $5,748. SPY $10,141. Use the arrow keys to read each point.$10,000$20,000Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 2026 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 LUNL. Periods over one year show the average yearly return.
PeriodLUNL
Year to dateFund launched this yearNo data
1 month−48.8%
3 months−42.5%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

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 total returns for LUNL
YearReturn barLUNL
2026 YTD−89.8%

History from Jan 13, 2026

LUNL in the news

LUNL 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 through Oct 30, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Jan 2026. No distributions yet.

LUNL Risk

Risk pillarD28 out of 100Rank 304 of 368 in Single-Stock Long Leveraged

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.
Launched Jan 2026; fills in after 12 months
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.
Launched Jan 2026; fills in after 12 months
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.
Launched Jan 2026; fills in after 12 months
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.
9.30
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.

FMP measures it over up to five years of monthly returns.

LUNL Cost

Compare LUNL and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$19,810

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • LUNL 1.34%

    $23,965

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • LUNL 1.34%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530LUNL $23,965GOGL $4,155

Year by year

YearLUNLGOGLOverpaying
10$2,329$365$1,964
20$8,621$1,421$7,200
30$23,965$4,155$19,810

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