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Launched · SEC filings

Defiance Pure Space Daily 2X Strategy ETF

SPCLCboeFThis 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.

$17.79−2.08 (−10.47%)

As of Oct 13, 2026, 3:59 PM

F21/ 100

Rank 14 of 15 in Space

F21/100Rank 14 of 15inSpace
Intraday session: down, 59 prints from 19.87 to 17.79. Range 17.54 to 18.43. Use the arrow keys to read each point.17.5018.5019.0019.5010 AM12 PM2 PM4 PM
Expense ratio
1.29%
Fund size
$12M
1Y total return
—
Yield · Last 12 months
—
Holdings
16
Avg volume · 30D
0.2M sh
NAV per share
$20.77
52W range
low $18.31high $83.85
Launched
Filings
SEC EDGAR

The ETF.net SPCL Grade

Based on 4 of 6 pillars

F

Score 21 out of 100

Category
Space⁠
Rank
14 of 15
Six-pillar profile for SPCL. Scores out of 100: Cost 0, Risk 31, Mission not scored, Tradability 48, Holdings not scored, Durability 45. Strongest: Tradability (48). Weakest: Cost (0). Based on 4 of 6 pillars.

Score 21 of 100 falls in the F 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.
    F0 out of 100
    Rank 15 of 15

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D31 out of 100
    Rank 12 of 14

  • 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 9 of 15

  • 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.
    C45 out of 100
    Rank 10 of 15

Our read on SPCL

ETF.net Research

FMost space ETFs hand you the sector straight up. SPCL doubles it: the fund aims for two times the one-day move of an actively managed basket of space names. A geared trading tool with a daily reset, not a buy-and-forget sleeve.

Stated mandate

The Fund seeks two-times the one-day performance of an actively managed Target Portfolio composed of space securities. It provides leveraged exposure to companies involved in space-related technologies and services.

Why people hold it

  1. 01Aims to deliver two times the one-day performance of a portfolio of space securities, geared exposure the plain-vanilla funds in this theme do not offer.
  2. 02The reference is an actively managed Target Portfolio, not a fixed index, so the space lineup can be reshaped as the industry changes.defianceetfs.com
  3. 03One ticker does the work: the leverage lives inside the fund, so there is no margin account or options chain to manage.defianceetfs.com

Worth knowing

  1. 01The leverage resets every day. Hold longer and compounding takes over, so results can drift far from two times the period's move, especially in choppy markets.
  2. 02The 1.31% expense ratio sits well above unlevered space funds like ROKT (0.45%) and UFO (0.75%). Leverage plus active management carries a price tag.
  3. 03Launched in 2026, so there is little history to judge it by, and it has not been paying distributions.

SPCL Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
16
Top-10 weight
195%
Largest holding
United States Treasury Bill 11/19/202627.8%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 11/19/202627.77%3,200,000$3M56
002—Ast Spacemobile, Inc.-Swap-Mrex-L23.95%53,408$3M1
003—Rocket Lab Corporation-Swap-Mrex-L23.52%41,083$3M1
004—Planet Labs Pbc-Swap-Mrex-L23.19%166,730$3M1
005—Rocket Lab Corporation-Swap-Cant-L23.06%40,271$3M1
006—Planet Labs Pbc-Swap-Cant-L22.31%160,420$3M1
007—Ast Spacemobile, Inc.-Swap-Cant-L20.01%44,635$2M3
008—Space Exploration Technologies Corp.-Swap-Mrex-L10.39%7,295$1M3
009—Space Exploration Technologies Corp.-Swap-Nmra-L10.32%7,250$1M1
010—Space Exploration Technologies Corp.-Swap-Nbcb-L10.32%7,250$1M1
011—Space Exploration Technologies Corp.-Swap-Clst-L9.76%6,852$1M2
012—Space Exploration Technologies Corp.-Swap-Cant-L9.23%6,479$1M1
013—Ast Spacemobile, Inc.-Swap-Nmra-L6.05%13,500$695K1
014—First American Government Obligations Fund 12/01/20315.82%667,701$668K529
015—Planet Labs Pbc-Swap-Nmra-L4.52%32,500$519K2

Showing 1–15 of 16 holdings

SPCL Performance

Launched Apr 7, 2026

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.Not enough history yet.Not enough history yet.
SPCL$6,082
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. SPCL $6,082. SPY $10,332. Use the arrow keys to read each point.$5,331$8,024$10,717Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – 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 SPCL. Periods over one year show the average yearly return.
PeriodSPCL
Year to dateFund launched this year—
1 month−4.7%
3 months−39.2%
1 yearFund is under 1 year old—
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 SPCL
YearReturn barSPCL
2026 YTD−25.9%

History from Apr 8, 2026

SPCL in the news

Filtered to SPCL · Space

SPCL 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 Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Apr 2026. No distributions yet.

SPCL 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 Apr 2026; 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 Apr 2026; 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 Apr 2026; 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.
9.53
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.

SPCL Cost

Expense ratio1.29%
  • The middle half of Space funds
  • Median 0.75%

Every other Space fund charges less.

SPCL costs $129.00 a year on $10,000. The median Space fund costs $75.00.

Other funds in Space

See others