Defiance Daily Target 2X Short QBTS ETF
CThis 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.
$24.93+1.30 (+5.50%)
- 2.31%
- $4M
- −92.9%
- 0.8M sh
- $21.28
- low $12.99high $484.20
The ETF.net QBTZ Grade
C
Score 40 out of 100
- 31 of 58
Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 42
- This cap took
- −2
- Published Score
- 40
Cost
The fund’s net expense ratio, ranked against its category.F5 out of 100Rank 55 of 58Mission
Whether the fund did what it promised, tested against its stated mandate.A95 out of 100Rank 15 of 32Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D35 out of 100Rank 39 of 52Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D33 out of 100Rank 45 of 58Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C42 out of 100Rank 37 of 58
Our read on QBTZ
CA one-day trade on quantum hype cooling. QBTZ aims to deliver -2x the daily move in D-Wave Quantum stock inside an ordinary brokerage account, no margin agreement and no borrowed shares. A stopwatch instrument, not a set-and-forget short.
QBTZ seeks daily inverse results equal to -200% of the daily percentage change in D-Wave Quantum Inc.'s share price. It is designed for short-term use and does not target results over periods longer than one trading day.
Why people hold it
- Turns a hard trade into a ticker: shorting a hot quantum name with leverage normally means a margin account and locating borrow. Here it is a share purchase.defianceetfs.com
- Does the job it advertises. The fund hews closely to its stated goal of -200% of D-Wave Quantum's daily move, which is the whole point of a daily-reset tool.
- Standard 1940 Act ETF wrapper, so the position cannot cost more than what you put in. No margin calls, no forced buy-in when QBTS rips.defianceetfs.com
Worth knowing
- The math resets every day. Hold longer than a session and compounding takes over, so results can drift well away from -2x, especially in a stock that whipsaws.
- At 1.29% a year the fee sits right at the category median and above the big bear funds on mega-caps, like TSLS at 0.95% and AAPD at 0.96%.
- A 2025 launch and a small asset base relative to established single-stock bear funds, which tends to show up as wider spreads around the edges of the day.
QBTZ Holdings
- Other
- 3
- 300%
- Cash & Other
QBTZ Performance
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.
QBTZ$714
Returns run to the Oct 12, 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.
| Period | QBTZ |
|---|---|
| Year to date | −83.5% |
| 1 month | +35.7% |
| 3 months | −4.1% |
| 1 year | −92.9% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | QBTZ |
|---|---|---|
| 2026 YTD | −83.5% | |
| 2025 | −50.0% |
QBTZ in the news
QBTZ Dividends
No distributions in the last 12 months.
QBTZ 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 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.
- —
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.
- −96.6%
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.
- −8.19
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
QBTZ Cost
2.31%
QBTZ2.31%
- The middle half of Single-Stock Inverse funds
- Median 1.35%
39 of the 43 Single-Stock Inverse funds charge less.
Other funds in Single-Stock Inverse
- CNFXSDirexion Daily NFLX Bear 1X ETFExpense ratio 1.13%1 year return +61.2%
- CPALDDirexion Daily PANW Bear 1X ETFExpense ratio 2.33%1 year return −56.5%
- CQCMDDirexion Daily QCOM Bear 1X SharesExpense ratio 2.76%1 year return −31.4%
- CRKLZDefiance Daily Target 2X Short RKLB ETFExpense ratio 1.29%1 year return —
- CSMCZDaily Target 2X Short SMCI ETFExpense ratio 1.55%1 year return −90.3%