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LUNL

GradeDChicago Board Options Exchange

Daily Target 2X Long LUNR ETF

Leveraged · Single-Stock Leveraged · Defiance · Inception 2026-01-12

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.

$3.82−0.56 (−12.79%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Jan 13, 2026.History starts Jan 13, 2026.
Intraday session: down, 58 prints from 4.38 to 3.82. Range 3.79 to 4.32. Use the arrow keys to read each point.$4.00$4.2010 AM12 PM2 PM4 PM
Expense ratio
1.34%
Fund size
$26M
1Y return
—
Yield · Last 12 months
—
Holdings
10
Volume · 30D
1.3M sh
NAV per share
$4.12
52W range
low $2.48high $56.68

The ETF.net LUNL Grade

D

36/ 100

Rank 232 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for LUNL. Scores out of 100: Cost 23, Risk 31, Mission 84, Tradability 58, Holdings not scored, Durability 64. Strongest: Mission (84). Weakest: Cost (23). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 36 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 23
    Category rank291/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 84
    Category rank112/147 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 31
    Category rank225/285 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 58
    Category rank145/380 · top 38%

  • 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.
    BScore 64
    Category rank108/380 · top 28%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on LUNL

ETF.net Research

DTwo times the daily move in Intuitive Machines, the lunar lander company. Most 2x single-stock ETFs are geared to mega-caps; this one straps leverage to a space name, and the clock resets every trading day.

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

  1. 01Clear mandate: 200% of LUNR's daily percentage change, before fees, in an ordinary ETF share. No margin account, no options chain.defianceetfs.com
  2. 02It hits the number it aims at. Day-to-day results have tracked the stated two-times target closely, which is the entire job of a daily-reset fund.
  3. 03Rare exposure: leveraged single-stock funds cluster around mega-caps like AAPU and GGLL. This one points at a commercial space company instead.
  4. 04Trades actively for a fund launched in 2026, so getting a fill has not been the sticking point.

Worth knowing

  1. 01The 2x target resets every day. Hold past the close and your result can drift well away from twice the stock's move over that stretch, especially in choppy tape.
  2. 02The fee is 1.31% a year, above 2x single-stock peers such as UNHG and ASMG at 0.75%. On a daily-use tool, that cost accrues for every day held.
  3. 03One company, doubled. All the risk rides on a single space stock's news flow, geared twofold, and the fund has not made distributions.

LUNL Holdings

As of Sep 20, 2026, 5:08 AM
Asset class
Other
Holdings
10
Top-10 weight
239%
Largest holding
United States Treasury Bill 11/19/202636.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 11/19/202636.04%7,500,000$7M48
002—INTUITIVE MACHINES, INC.-SWAP-NMRA-L34.08%506,299$7M1
003—INTUITIVE MACH SWAP MAREX-L33.70%500,526$7M1
004—INTUITIVE MACHINES SWAP NBC-L33.05%490,876$7M1
005—INTUITIVE MACHINES, INC.-SWAP-JNST-L32.61%484,479$7M1
006—INTUITIVE MACH SWAP CS-L31.46%467,370$7M1
007—INTUITIVE MACH SWAP CANT-L_R28.49%423,151$6M1
008—INTUITIVE MACHINES, INC.-SWAP-MSCS-L6.80%101,000$1M1
009—First American Government Obligations Fund 12/01/20312.91%601,901$602K625

Showing 1–9 of 9 holdings

LUNL Performance

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

LUNL$4,128
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. LUNL $4,128. SPY $10,415. Use the arrow keys to read each point.$1,729$6,413$11,096Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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 year—
1 month−27.7%
3 months−58.7%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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−73.5%

History from Jan 13, 2026

LUNL in the news

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

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 Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Jan 2026. No distributions yet.

LUNL 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.
—
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.

LUNL Cost

Expense ratio1.34%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

257 of the 329 Single-Stock Long Leveraged funds charge less.

LUNL costs $134.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.