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SOUX

GradeDNASDAQ Global Select

Daily Target 2X Long SOUN ETF

Leveraged · Single-Stock Leveraged · Defiance · Inception 2025-06-23

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.

$8.54−0.14 (−1.62%)

As of Sep 23, 2026, 2:13 PM EDT

History starts Jun 24, 2025.
Intraday session: down, 40 prints from 8.68 to 8.54. Range 8.38 to 8.77. Use the arrow keys to read each point.$8.40$8.60$8.70$8.8010 AM12 PM2 PM4 PM
Expense ratio
1.32%
Fund size
$7M
1Y return
−94.9%
Yield · Last 12 months
Data unavailable
Holdings
11
Volume · 30D
0.1M sh
NAV per share
$8.86
52W range
low $7.95high $312.38

The ETF.net SOUX Grade

D

31/ 100

Rank 260 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for SOUX. Scores out of 100: Cost 27, Risk 20, Mission 95, Tradability 41, Holdings not scored, Durability 62. Strongest: Mission (95). Weakest: Risk (20). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 31 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.
    DScore 27
    Category rank284/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 95
    Category rank50/147 · top 34%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 20
    Category rank272/285 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 41
    Category rank211/380 · mid-pack

  • 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.
    BScore 62
    Category rank117/380 · top 31%

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

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 Sep 20, 2026, 5:08 AM
Asset class
Other
Holdings
11
Top-10 weight
223%
Largest holding
SoundHound AI, Inc.-SWAP-MSCS-L46.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SoundHound AI, Inc.-SWAP-MSCS-L46.63%525,000$3M1
002—SOUNDHOUND AI INC SWAP JNST-L33.21%373,829$2M1
003—SOUNDHOUND AI INC SWAP NM26.31%296,171$2M1
004—SOUNDHOUND AI INC SWAP NBC-L24.87%279,964$2M1
005—SOUNDHOUND AI INC SWAP CS-L23.98%269,991$2M1
006—United States Treasury Bill 11/19/202622.33%1,500,000$1M48
007—SOUNDHOUND AI INC SWAP MAREX20.43%230,020$1M1
008—SOUNDHOUND AI INC SWAP BMO-L16.91%190,342$1M1
009—SOUNDHOUND AI INC SWAP CANTOR7.87%88,562$525K1
010—First American Government Obligations Fund 12/01/20310.08%5,105$5K625

Showing 1–10 of 10 holdings

SOUX Performance

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

SOUX$508
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. SOUX $508. SPY $11,723. Use the arrow keys to read each point.$-622$7,359$15,339Sep 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 SOUX. Periods over one year show the average yearly return.
PeriodSOUX
Year to date−80.1%
1 month−33.7%
3 months−34.8%
1 year−94.9%
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 SOUX
YearReturn barSOUX
2026 YTD−80.1%
2025−39.2%

History from Jun 24, 2025

SOUX in the news

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

SOUX 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
$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.
118.6%
Annualised · 14 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.
−0.69
vs 3-month T-bills · 14 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.
−96.6%
14 months · trough Sep 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.
6.41
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%

250 of the 329 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.