Skip to content
etf.net

Launched · SEC filings

Daily Target 2X Long SOUN ETF

SOUXNasdaqDThis 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.

$5.34−0.21 (−3.79%)

At close: Oct 13, 2026, 4:00 PM

D32/ 100

Rank 309 of 380 in Single-Stock Long Leveraged

D32/100Rank 309 of 380inSingle-Stock Long Leveraged
Intraday session: down, 56 prints from 5.55 to 5.34. Range 5.28 to 5.51. Use the arrow keys to read each point.5.305.405.455.5010 AM12 PM2 PM4 PM
Expense ratio
1.32%
Fund size
$6M
1Y total return
−96.6%
Yield · Last 12 months
Data unavailable
Holdings
10
Avg volume · 30D
0.1M sh
NAV per share
$6.56
52W range
low $5.53high $312.40
Launched
Filings
SEC EDGAR

The ETF.net SOUX Grade

Based on 5 of 6 pillars

D

Score 32 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
309 of 380
Six-pillar profile for SOUX. Scores out of 100: Cost 27, Risk 17, Mission 97, Tradability 48, Holdings not scored, Durability 63. Strongest: Mission (97). Weakest: Risk (17). Based on 5 of 6 pillars.

Score 32 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.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D27 out of 100
    Rank 265 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A97 out of 100
    Rank 20 of 148

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F17 out of 100
    Rank 344 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C48 out of 100
    Rank 187 of 380

  • 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.
    B63 out of 100
    Rank 108 of 380

Our read on SOUX

ETF.net Research

DA 2x amplifier strapped to a single stock: SoundHound AI. Defiance built SOUX to move twice as much as SOUN each day, up or down, with the leverage reset every morning.

Stated mandate

The Fund seeks daily investment results equal to twice the daily percentage change in SoundHound AI, Inc.'s share price, before fees and expenses.

Why people hold it

  1. 01Does one job plainly: it targets twice SOUN's daily percentage move, before fees, and its daily results have tracked that target tightly.defianceetfs.com
  2. 02Doubled exposure to a volatile AI name in a plain brokerage account, no margin, no options chain, no borrowing on your side.defianceetfs.com
  3. 03In a crowded field of 2x single-stock bull funds, this one lands in the upper half on execution of its stated mandate.

Worth knowing

  1. 01The 2x target resets daily. Hold longer and the path matters: choppy stretches can leave you well away from twice SOUN's move over that span.defianceetfs.com
  2. 02At 1.29%, the fee sits above the typical leveraged single-stock fund. Some 2x peers such as UNHG and ASMG charge 0.75%.
  3. 03Everything rides on one company. Launched in 2025, it is a small, young fund with no diversification to cushion a bad day at SoundHound.

SOUX Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
10
Top-10 weight
244%
Largest holding
SoundHound AI, Inc.-SWAP-MSCS-L55.5%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SoundHound AI, Inc.-SWAP-MSCS-L55.48%595,000$3M1
002—United States Treasury Bill 11/19/202628.03%1,500,000$1M56
003—Soundhound Ai Inc Swap Nbc-L27.51%294,964$1M1
004—Soundhound Ai Inc Swap Jnst-L26.09%279,732$1M1
005—Soundhound Ai Inc Swap Nm23.89%256,198$1M1
006—Soundhound Ai Inc Swap Cs-L19.33%207,251$1M1
007—Soundhound Ai Inc Swap Cantor18.33%196,600$977K1
008—First American Government Obligations Fund 12/01/203115.77%840,243$840K529
009—Soundhound Ai Inc Swap Bmo-L15.23%163,342$812K1
010—Soundhound Ai Inc Swap Marex14.40%154,390$767K1

Showing 1–10 of 10 holdings

SOUX Performance

Launched Jun 23, 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.
SOUX$339
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. SOUX $339. SPY $12,044. Use the arrow keys to read each point.$-825$7,614$16,053Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

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.

Trailing total return for SOUX. Periods over one year show the average yearly return.
PeriodSOUX
Year to date−87.2%
1 month−40.0%
3 months−53.6%
1 year−96.6%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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 SOUX
YearReturn barSOUX
2026 YTD−87.2%
2025−39.2%

History from Jun 24, 2025

SOUX in the news

Filtered to SOUX · Single-Stock Long Leveraged

SOUX Dividends

Last payment
$8.84 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 $8.84. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$8.84

SOUX 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.
116.7%
Annualised · 15 months to Sep 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.
−0.88
vs 3-month T-bills · 15 months to Sep 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.
−97.7%
15 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.
6.55
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.

SOUX Cost

Expense ratio1.32%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

254 of the 333 Single-Stock Long Leveraged funds charge less.

SOUX costs $132.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.

Other funds in Single-Stock Long Leveraged

See others