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Launched · SEC filings

Daily Target 2X Long QS ETF

QSUNYSE ArcaDefianceDThis 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.

$3.22−0.31 (−8.78%)

As of Nov 10, 2026, 11:15 AM ET

D30/ 100

Rank 320 of 367 in Single-Stock Long Leveraged

D30/100Rank 320 of 367inSingle-Stock Long Leveraged
Intraday session: down, 21 prints from 3.53 to 3.22. Range 3.15 to 3.40. Use the arrow keys to read each point.3.303.4010 AM12 PM2 PM4 PM
Expense ratio
1.32%
Fund size
$5M
1Y total return
−96.9%
Yield · Last 12 months
No data
Holdings
9
Avg volume · 30D
95.8K sh
52W range
low $2.57high $124.86
Launched
Filings
SEC EDGAR

The ETF.net QSU Grade

Based on 5 of 6 pillars

D

Score 30 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
320 of 367
Six-pillar profile for QSU. Scores out of 100: Cost 26, Risk 20, Mission 89, Tradability 40, Holdings not scored, Durability 59. Strongest: Mission (89). Weakest: Risk (20). Based on 5 of 6 pillars.

Score 30 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.

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
31
This cap took
0
Published Score
30 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D26 out of 100
    Rank 259 of 367

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A89 out of 100
    Rank 87 of 143

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F20 out of 100
    Rank 336 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C40 out of 100
    Rank 237 of 367

  • 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.
    B59 out of 100
    Rank 128 of 367

Our read on QSU

ETF.net Research

In short

DThe first 2x ETF on QuantumScape. QSU aims to deliver 200% of QS's daily move, resets every session, and charges 1.32% a year with no fee waiver.

Stated mandate

The Fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in QuantumScape Corporation's share price. It is designed for a single trading day rather than longer holding periods.

Why people hold it

  • Defiance got there first: QSU launched in 2025 as the debut 2x long vehicle on QuantumScape, the solid-state battery developer.nasdaq.com
  • The daily math is the entire job, and QSU has hit its stated 200% target closely.
  • It is a registered 1940 Act fund, so the position is sized in shares: no margin account, no option expiry, no loss beyond what you put in.defianceetfs.com

Worth knowing

  • The leverage resets daily. Hold longer and results compound, so a choppy stretch in QS can leave the fund well off 2x the stock's move for the period.
  • At 1.32% with no waiver, it runs above the category median and above 2x single-stock peers like TSMG (0.76%) and OKTG (0.75%), neither of which waives fees.
  • Young and small: a 2025 launch with a modest asset base, moderate trading, and every dollar riding on one company's share price.

QSU Performance

Launched Oct 20, 2025

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.
QSU$314
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. QSU $314. SPY $11,339. Use the arrow keys to read each point.$0$5,000$10,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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 QSU. Periods over one year show the average yearly return.
PeriodQSU
Year to date−91.0%
1 month−8.5%
3 months−53.0%
1 year−96.9%
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 QSU
YearReturn barQSU
2026 YTD−91.0%
2025−64.5%

History from Oct 21, 2025

QSU in the news

QSU Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

QSU Risk

Risk pillarF20 out of 100Rank 336 of 363 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.
108.1%
Annualised · 12 months to Oct 2026
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.
−2.55
vs 3-month T-bills · 12 months to Oct 2026
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.
−98.2%
12 months · trough Oct 2026
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.
5.66
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.

QSU Cost

Compare QSU and GOGL

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

$19,513

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

  • QSU 1.32%

    $23,668

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • QSU 1.32%
  • 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$25K051015202530QSU $23,668GOGL $4,155

Year by year

YearQSUGOGLOverpaying
10$2,296$365$1,931
20$8,507$1,421$7,086
30$23,668$4,155$19,513

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