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NVOX vs OKTG

Defiance Daily Target 2X Long NVO ETF

NVOXCNYSE Arca

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

Overlap

0.0%by weight

Expense ratio

OKTG −0.56pt a year

NVOX1.31%OKTG0.75%

Avg volume · 30D

NVOX 10.5×the volume

NVOX403KOKTG38.5K

NVOX vs OKTG Performance

Dec 31, 2025 – Oct 30, 2026

−53.1%NVOX+247.6%OKTG

Dec 31, 2025 to Oct 30, 2026. NVOX −53.1%. OKTG +247.6%. Use the arrow keys to read each point.0%100%200%300%Dec 2025Jun 2026Oct 2026
Expense ratio
NVOX 1.31%
OKTG 0.75%, better
Fund size
NVOX $39M
OKTG $8M
1Y total return
NVOX −53.1%
OKTG No data
Holdings
NVOX 9
OKTG 5
Avg volume (30D)
NVOX 403K sh, better
OKTG 38.5K sh
NAV per share
NVOX $10.30
OKTG $53.95
52W range

ETF.net Grade

NVOX: Cost 25, Risk 59, Mission 97, Tradability 70, Holdings not scored, Durability 77. OKTG: Cost 70, Risk 76, Mission 94, Tradability 73, Holdings not scored, Durability 51.
Pillar letters and Scores for NVOX, OKTG, with each pillar’s weight
PillarNVOXOKTG
Cost30% weightD25A70Higher
Mission25% weightA97HigherA94
Risk15% weightB59A76Higher
Tradability15% weightA70A73Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA77HigherC51

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. NVOX and OKTG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

OKTG ranks 3rd and NVOX 95th of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 3AOKTGLeverage Shares 2x Long OKTA Daily ETFScore 70
  4. Rank 3APANGLeverage Shares 2x Long PANW Daily ETFScore 70
  5. Rank 95CAEHGLeverage Shares 2X Long AEHR Daily ETFScore 47
  6. Rank 95CNVOXDefiance Daily Target 2X Long NVO ETFScore 47
  7. Rank 97CHYNXT-REX 2X Long SK Hynix Daily Target ETFScore 46

Our read on each fund

ETF.net Research

NVOXCDefiance Daily Target 2X Long NVO ETF

OKTGALeverage Shares 2x Long OKTA Daily ETF

In short

NVOX The first 2x leveraged single-stock ETF on Novo Nordisk: a one-ticker, daily-reset amplifier on the weight-loss drug giant's US-listed shares, built from swaps and priced at 1.31%.

OKTG A 2x daily amplifier on Okta, the identity-security stock, in an ETF wrapper. Leverage Shares prices it at 0.75%, under the typical leveraged single-stock fund, in a corner of the market built mostly around mega-caps.

Stated mandate

NVOX The Fund seeks daily leveraged results equal to twice the daily percentage change in the share price of NOVO Nordisk A/S - ADR.

OKTG The fund seeks daily leveraged investment results equal to 200% of the daily performance of the publicly traded common stock identified as OKTA, before fees and expenses.

Why people hold it

  • NVOX Aims for twice NVO's daily percentage move and resets each day. One ticker, no margin account, no options chain to manage.defianceetfs.com
  • Launched December 2024 as the first 2x leveraged single-stock fund on Novo Nordisk, the company at the center of the weight-loss drug market.yahoo.com
  • The leverage lives inside the fund, assembled from total return swaps with bank counterparties rather than borrowed cash in your brokerage account.defianceetfs.comsec.gov
  • Day to day it has stayed close to its stated 2x target, and it stands in the upper half of a crowded leveraged single-stock field.
  • OKTG Costs 0.75% a year, below the roughly 1.01% median for leveraged single-stock funds, and matches the fee on Leverage Shares' other 2x products like UNHG and ASMG.
  • Mechanically simple: it aims for 200% of Okta's daily move before fees and expenses, no margin account, options chain or share borrow involved.leverageshares.com
  • Unusual target. Most 2x single-stock ETFs point at mega-caps such as AAPU and GGLL; this one puts the same machinery on a cybersecurity name.

Worth knowing

  • NVOX At 1.31%, the fee sits above the category median and above 2x peers such as TSMG (0.76%) and UNHG (0.77%), with swap financing costs layered on top.
  • The daily reset makes multi-day results path-dependent: a choppy stretch can grind value down even if NVO finishes where it started.defianceetfs.com
  • Small, young, and hitched to one drugmaker, so trial data or guidance lands at double size. It has also already run a reverse share split.defianceetfs.com
  • OKTG The leverage resets every day. Hold past that and returns compound, so a choppy stretch can leave you far from 2x Okta's move over the period.
  • One company, doubled. An earnings gap or a breach headline at Okta hits the fund at twice the size, with no other holdings to soften it.
  • Launched in November 2025 and still small and thinly traded, so spreads can run wider than on the long-established mega-cap leveraged funds.

Full NVOX profile⁠

Full OKTG profile⁠

NVOX vs OKTG Holdings

How NVOX and OKTG differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of NVOX and 0.0% of OKTG.

Level by level

  • Holdings0 in both0.0%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for OKTG.

Country, concentration and asset class

Country by domicile

Country weights in NVOX and OKTG, widest gap first
CountryMore in NVOXMore in OKTG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • NVOX278.7%
  • OKTG200.3%

Securities held

  • NVOX3
  • OKTG1

Asset class

NVOX
Equity
OKTG
Equity

Holdings

  • Only in NVOX3
  • In both0
  • Only in OKTG1

Only in NVOX

3 securities, 100% of NVOX by weight

  • United States Treasury Bill 11/19/202678.56%
  • Novo-Nordisk A/S-Spons Adr Nomura26.83%
  • First American Government Obligations Fund 12/01/20310.04%

Only in OKTG

1 security, 0.3% of OKTG by weight

  • First American Treasury Obligations Fund 01/01/20400.32%

Weight gaps

NVOX and OKTG share no securities.

All 10 NVOX holdings⁠All 6 OKTG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

NVOX vs OKTG Cost

Overpaying NVOX vs OKTG

$9,037

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • NVOX 1.31%

    $23,519

  • OKTG 0.75%

    $14,482

$10,000
30 years

Cost over time

  • NVOX 1.31%
  • OKTG 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530NVOX $23,519OKTG $14,482

Year by year

YearNVOXOKTGOverpaying
10$2,280$1,336$944
20$8,450$5,078$3,372
30$23,519$14,482$9,037

Expense ratio

  • 1.31%NVOX
  • 0.75%OKTG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 315 funds

NVOX 236th cheapest of 315 funds

NVOX vs OKTG Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
NVOX None
OKTG None

Distribution history

NVOXAll NVOX payments⁠

No distribution history available.

OKTGAll OKTG payments⁠

No distribution history available.

NVOX vs OKTG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NVOX 92.6%since Jan 2025OKTG No data
Return per unit of riskSharpe ratio, 3 years
NVOX −0.69since Jan 2025OKTG No data
Worst fallMax drawdown, 5 years
NVOX −94.6%since Dec 2024OKTG No data
Market sensitivityBeta, 5 years
NVOX 2.49OKTG 2.39

Popular comparisons

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