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USAX

GradeDChicago Board Options Exchange

Tradr 2X Long USAR Daily ETF

Leveraged · Single-Stock Leveraged · Tradr · Inception 2026-01-12 · SEC filings

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.

$8.90−1.08 (−10.82%)

As of Sep 23, 2026, 3:00 PM EDT

History starts Jan 13, 2026.History starts Jan 13, 2026.
Intraday session: down, 52 prints from 9.98 to 8.90. Range 8.76 to 9.68. Use the arrow keys to read each point.$9.20$9.40$9.6010 AM12 PM2 PM4 PM
Expense ratio
1.49%
Fund size
$10M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0.1M sh
NAV per share
$9.96
52W range
low $6.47high $73.35

The ETF.net USAX Grade

D

28/ 100

Rank 274 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for USAX. Scores out of 100: Cost 13, Risk 37, Mission 86, Tradability 42, Holdings not scored, Durability 55. Strongest: Mission (86). Weakest: Cost (13). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 28 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 13
    Category rank356/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 86
    Category rank102/147 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 37
    Category rank195/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 42
    Category rank210/380 · 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 55
    Category rank159/380 · top 42%

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

Our read on USAX

ETF.net Research

DTwo times the daily move of USA Rare Earth (USAR) in a single ticker. It resets every day, so it is built for one trading session, not for holding the rare earth story long term.

Stated mandate

The Fund seeks daily results equal to twice the daily performance of USA Rare Earth, Inc. common shares, before fees and expenses. It is intended for a holding period of one trading day.

Why people hold it

  1. 01One ticker gets you 2x daily exposure to a single stock, no margin account or options approval involved.tradretfs.com
  2. 02It has tracked its stated two-times daily target closely, which is the whole job of a daily leveraged fund.
  3. 03Rare exposure: no other fund in its leveraged single-stock peer set is built on USA Rare Earth shares.

Worth knowing

  1. 01At 1.49% a year, it costs more than established 2x single-stock funds like GGLL (0.96%) or AMDG (0.75%).
  2. 02Daily reset math: hold past one session and compounding can push results well away from 2x the stock's move over that stretch.
  3. 03A small, young fund (launched 2026) with moderate trading, so spreads can be wider than the giants of the category.

USAX Holdings

As of Sep 20, 2026, 6:39 AM
Asset class
Other
Holdings
—
Top-10 weight
144%
Largest holding
CASHUSD136.4%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASHUSD136.35%11,600,582$12M49
002—CFD USA RARE EARTH INC7.91%-15,235,399$673K1

Showing 1–2 of 2 holdings

USAX Performance

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

USAX$4,080
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. USAX $4,080. SPY $10,415. Use the arrow keys to read each point.$2,074$6,572$11,070Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – 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 USAX. Periods over one year show the average yearly return.
PeriodUSAX
Year to dateFund launched this year—
1 month−25.1%
3 months−59.2%
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 USAX
YearReturn barUSAX
2026 YTD−54.4%

History from Jan 13, 2026

USAX in the news

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

USAX 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 Jan 2026. No distributions yet.

USAX 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 Jan 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 Jan 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 Jan 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.
0.00
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.

USAX Cost

Expense ratio1.49%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

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

USAX costs $149.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.