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RIOX

GradeDNew York Stock Exchange Arca

Daily Target 2X Long RIOT ETF

Leveraged · Single-Stock Leveraged · Defiance · Inception 2025-01-02

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.

$36.30+0.36 (+1.02%)

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

History starts Jan 3, 2025.
Intraday session: up, 59 prints from 35.93 to 36.30. Range 35.16 to 36.66. Use the arrow keys to read each point.$35.00$35.50$36.00$36.5010 AM12 PM2 PM4 PM
Expense ratio
1.63%
Fund size
$18M
1Y return
−34.5%
Yield · Last 12 months
Data unavailable
Holdings
11
Volume · 30D
0.3M sh
NAV per share
$33.88
52W range
low $12.96high $153.75

The ETF.net RIOX Grade

D

29/ 100

Rank 271 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for RIOX. Scores out of 100: Cost 5, Risk 42, Mission 98, Tradability 51, Holdings not scored, Durability 73. Strongest: Mission (98). Weakest: Cost (5). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 29 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 5
    Category rank361/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 98
    Category rank13/147 · top 9%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 42
    Category rank179/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 51
    Category rank168/380 · top 44%

  • 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.
    AScore 73
    Category rank53/380 · top 14%

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

Our read on RIOX

ETF.net Research

DTwo times Riot Platforms' daily move, in one ticker. Defiance built RIOX for traders who want amplified single-stock exposure a day at a time, and it hits that daily target closely.

Stated mandate

The Fund seeks daily leveraged investment results of 200% of the daily percentage change in Riot Platforms, Inc.'s share price. It uses swaps and/or listed options and rebalances daily, so returns for periods beyond one day may differ substantially from 2X.

Why people hold it

  1. 01Built to do one thing: 200% of Riot Platforms' daily percentage change, via swaps and listed options with a daily rebalance. One of the stronger implementations in a crowded leveraged single-stock field.
  2. 02The fee runs 0.95% a year, a shade under the typical charge among leveraged single-stock funds. Cheap it isn't. Competitive it is.
  3. 03Leverage shows up in a plain 1940 Act fund you buy like any share: no margin account, no swap desk, no derivatives paperwork on your side.

Worth knowing

  1. 01The daily reset compounds. Hold past one day and results can differ substantially from 2X, with a choppy, back-and-forth tape doing the most damage.
  2. 02Two times a single stock is a volatile package. The drawdowns amplify exactly as cleanly as the upside does.
  3. 03Launched in 2025 and moderately traded rather than deeply liquid, so spreads and limit orders matter more here than in the category's giants.

RIOX Holdings

As of Sep 20, 2026, 5:08 AM
Asset class
Other
Holdings
11
Top-10 weight
242%
Largest holding
United States Treasury Bill 11/19/202639.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 11/19/202638.95%6,900,000$7M48
002—RIOT PLATFORMS SWAP - L -CANTOR31.47%233,193$6M1
003—RIOT PLATFORMS, INC.-SWAP-NBCB-L30.53%226,234$5M1
004—RIOT PLATFORMS SWAP NOMURA-L29.42%218,059$5M1
005—RIOT PLATFORMS INC SWAP - L -MAREX29.01%214,959$5M1
006—RIOT PLATFORMS INC SWAP JNST-L28.70%212,715$5M1
007—RIOT PLATFORMS INC SWAP CS28.10%208,221$5M1
008—RIOT PLATFORMS, INC.-SWAP-MSCS-L15.59%115,500$3M1
009—RIOT PLATFORMS INC SWAP BMO7.23%53,602$1M1
010—First American Government Obligations Fund 12/01/20312.97%522,818$523K625

Showing 1–10 of 10 holdings

RIOX Performance

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

RIOX$6,553
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. RIOX $6,553. SPY $11,723. Use the arrow keys to read each point.$1,476$8,941$16,406Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – 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 RIOX. Periods over one year show the average yearly return.
PeriodRIOX
Year to date+69.9%
1 month+44.9%
3 months−45.1%
1 year−34.5%
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 RIOX
YearReturn barRIOX
2026 YTD+69.9%
2025−58.6%

History from Jan 3, 2025

RIOX in the news

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

RIOX 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$12.85 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $12.85. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$12.85

RIOX 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.
184.5%
Annualised · 19 months to Aug 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.
0.49
vs 3-month T-bills · 19 months to Aug 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.
−83.7%
20 months · trough Mar 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.
9.28
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.

RIOX Cost

Expense ratio1.63%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

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

RIOX costs $163.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.