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RKLZ

GradeCNASDAQ Global Market

Defiance Daily Target 2X Short RKLB ETF

Leveraged · Single-Stock Leveraged · Defiance · Inception 2025-11-17

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.

$15.53+0.60 (+4.02%)

As of Sep 23, 2026, 2:24 PM EDT

History starts Nov 18, 2025.History starts Nov 18, 2025.
Intraday session: up, 60 prints from 14.93 to 15.53. Range 14.46 to 15.58. Use the arrow keys to read each point.$14.50$14.75$15.00$15.2510 AM12 PM2 PM4 PM
Expense ratio
1.29%
Fund size
$1M
1Y return
—
Yield · Last 12 months
—
Holdings
7
Volume · 30D
2.8M sh
NAV per share
$15.98
52W range
low $1.67high $33.05

The ETF.net RKLZ Grade

C

40/ 100

Rank 36 of 58 in Single-Stock Inverse⁠

Confidence High

Six-pillar profile for RKLZ. Scores out of 100: Cost 68, Risk 15, Mission 99, Tradability 47, Holdings not scored, Durability 33. Strongest: Mission (99). Weakest: Risk (15). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned62This cap took−22Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 68
    Category rank19/58 · top 33%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 99
    Category rank5/31 · top 16%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 15
    Category rank47/48 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 47
    Category rank29/58 · top 50%

  • 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.
    DScore 33
    Category rank44/58 · bottom quartile

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

Our read on RKLZ

ETF.net Research

CNearly every inverse single-stock ETF points at a mega-cap. Defiance aimed this one at a rocket builder: RKLZ seeks -2x Rocket Lab's daily move, reset each day. A one-session tool on one of the market's twitchiest space names.

Stated mandate

The fund seeks amplified inverse daily exposure to the common stock of Rocket Lab Corporation.

Why people hold it

  1. 01A rare short target. Inverse single-stock funds cluster around mega-caps (AAPD, TSLS, MSFD); this one takes the other side of Rocket Lab, no margin account or borrowed shares required.
  2. 02Simple, single job: -2x of RKLB's daily move, exposure reset each morning. The fund has hewed closely to that stated daily target.defianceetfs.com
  3. 03Actively traded for a young fund, which matters when the intended holding period is a single session.

Worth knowing

  1. 01The daily reset compounds. Hold past a day and results can diverge sharply from -2x the stock's move over that stretch, and choppy trading erodes value.
  2. 021.29% a year is standard for leveraged single-stock funds, but above inverse peers such as TSLS (0.95%) and AAPD (0.96%).
  3. 03Launched November 2025 with a small asset base and no distributions, so there is little track record and less scale than long-running peers.

RKLZ Holdings

As of Sep 20, 2026, 5:08 AM
Asset class
Other
Holdings
7
Top-10 weight
300%
Largest holding
Cash & Other300.2%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Cash & Other300.17%3,258,821$3M674

Showing 1–1 of 1 holdings

RKLZ Performance

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

RKLZ$726
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. RKLZ $726. SPY $11,430. Use the arrow keys to read each point.$-463$5,944$12,352Dec 2025May 2026Sep 2026

Dec 31, 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 RKLZ. Periods over one year show the average yearly return.
PeriodRKLZ
Year to date−92.7%
1 month−14.2%
3 months−1.1%
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 RKLZ
YearReturn barRKLZ
2026 YTD−92.7%
2025−74.9%

History from Nov 18, 2025

RKLZ in the news

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

RKLZ 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 Nov 2025. No distributions yet.

RKLZ 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 Nov 2025; 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 Nov 2025; 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 Nov 2025; 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.
−5.46
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.

RKLZ Cost

Expense ratio1.29%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

18 of the 43 Single-Stock Inverse funds charge less.

RKLZ costs $129.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.