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SPCL vs UFOX

Defiance Pure Space Daily 2X Strategy ETF

SPCLFCboe

Defiance Space and Connective Tech ETF

UFOXANasdaq

Overlap

0.7%by weight

Expense ratio

UFOX −0.99pt a year

SPCL1.29%UFOX0.30%

Avg volume · 30D

SPCL 5.5×the volume

SPCL170KUFOX31K

SPCL vs UFOX Performance

Jul 31, 2026 – Oct 30, 2026

−36.4%SPCL−2.7%UFOX

Jul 31, 2026 to Oct 30, 2026. SPCL −36.4%. UFOX −2.7%. Use the arrow keys to read each point.−20%20%40%60%Jul 2026Sep 2026Oct 2026
Expense ratio
SPCL 1.29%
UFOX 0.30%, better
Fund size
SPCL $9M
UFOX $797M
1Y total return
SPCL No data
UFOX +14.5%
Yield (12M)
SPCL No data
UFOX 0.48%
Holdings
SPCL 16
UFOX 63
Avg volume (30D)
SPCL 170K sh, better
UFOX 31K sh
NAV per share
SPCL $13.05
UFOX $77.37
52W range

ETF.net Grade

SPCL: Cost 0, Risk 22, Mission not scored, Tradability 36, Holdings not scored, Durability 44. UFOX: Cost 100, Risk 62, Mission not scored, Tradability 76, Holdings 83, Durability 84.
Pillar letters and Scores for SPCL, UFOX, with each pillar’s weight
PillarSPCLUFOX
Cost30% weightF0A100Higher
Mission25% weightNot scoredNot scored
Risk15% weightF22B62Higher
Tradability15% weightD36A76Higher
Holdings10% weightNot scoredA83
Durability5% weightC44A84Higher

Rank among Space funds

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

Same Category. SPCL and UFOX are both graded against the same 15 Space funds, so their Grades compare head to head.

Space⁠

Category · 15 funds
See all 15 ›

UFOX ranks 1st and SPCL 14th of 15 funds in the Space Category.

  1. Rank 1AUFOXDefiance Space and Connective Tech ETFScore 84
  2. Rank 2AROKTState Street SPDR S&P Kensho Final Frontiers ETFScore 80
  3. Rank 12DXSPCVegaShares SpaceX & Beyond Earth ETFScore 38
  4. Rank 14FSPCLDefiance Pure Space Daily 2X Strategy ETFScore 16
  5. XWNGNot yet graded

Our read on each fund

ETF.net Research

SPCLFDefiance Pure Space Daily 2X Strategy ETF

UFOXADefiance Space and Connective Tech ETF

In short

SPCL Space exposure with the volume knob turned to 2x. SPCL holds swaps, not rockets, aiming for twice the one-day move of a hand-picked basket of three to ten companies that earn most of their revenue in orbit.

UFOX A space theme without the space-theme price tag. UFOX tracks a rules-based index of roughly 60 satellite and connectivity companies for 0.30%, a little over half what the typical global thematic fund charges.

Stated mandate

SPCL 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.

UFOX The fund seeks to track, before fees and expenses, the total return of the BlueStar® Space and Connective Technologies Index. It uses passive indexing and generally invests in the index constituents.

Why people hold it

  • SPCL The leveraged option in a peer group of unlevered space funds: it targets 200% of its Target Portfolio's move for a single day, built with swaps and listed options.defianceetfs.com
  • Strict screen: a holding must draw at least 50% of revenue or operating activity from space, so no defense prime rides along on a side business.sec.gov
  • Three to ten names, roughly equal weight, rebalanced daily. The adviser can swap names any time around launches or operational milestones, not just at the quarterly review.sec.gov
  • The day's Target Portfolio is posted on the fund's own website, so the basket behind the leverage is visible.sec.gov
  • UFOX Charges 0.30% a year, against a 0.56% median for its global thematic peers. Niche themes usually cost more, not less.
  • Fully rules-based. It tracks the BlueStar Space and Connective Technologies Index, so what lands in the portfolio follows a published methodology, not a manager's hunch.defianceetfs.com
  • About 60 holdings across a global and US mandate, so the theme is spread over satellite and connectivity businesses rather than three or four pure plays.
  • Listed since 2019, mid-sized, moderately traded and paying quarterly. On the whole, one of the stronger profiles in its global thematic group.

Worth knowing

  • SPCL Daily reset means compounding: over periods longer than a day, results can diverge widely from 2x the move, and the fund's documents warn a full loss is possible in one trading day.defianceetfs.comsec.gov
  • During a reconstitution, generally up to five trading days, exposure can sit anywhere from roughly 150% to 220% of net assets instead of 200%.defianceetfs.com
  • At 1.29%, the fee runs above the category's typical level, and Defiance's own unlevered space fund UFOX charges 0.30%. This is a 2026 launch with a small asset base.
  • UFOX One theme, roughly 60 stocks. Space and connectivity names tend to move together, so the ride is bumpier than a broad market fund.
  • Wide tent. "Space and connective technologies" stretches from satellites to connectivity infrastructure, so check the holdings list to see what you actually own.defianceetfs.com
  • Cheap for a theme fund, not cheap outright. Broader global peers such as KLMT (0.10%) and IQSZ (0.19%) sit well below it on fees.

Full SPCL profile⁠

Full UFOX profile⁠

SPCL vs UFOX Holdings

How SPCL and UFOX differ

Overlap by weight

0.7%

Shared holdings make up 8.8% of SPCL and 0.7% of UFOX.

Level by level

  • Asset classLeveraged/Inverse, Equity0.0%
  • Holdings1 in both0.7%
  • Countryby domicile92.3%

Sector

No Sector split for SPCL.

Country, concentration and asset class

Country by domicile

Country weights in SPCL and UFOX, widest gap first
CountryMore in SPCLMore in UFOX
United StatesSPCL +7.7 points
CanadaUFOX +2.3 points
IsraelUFOX +1.5 points
SwedenUFOX +1.5 points
FinlandUFOX +1.3 points
ChinaUFOX +0.9 points

Concentration

Weight in the 10 largest Holdings

  • SPCL185.9%
  • UFOX35.3%

Securities held

  • SPCL2
  • UFOX62

Asset class

SPCL
Leveraged/Inverse
UFOX
Equity

Holdings

  • Only in SPCL1
  • In both1
  • Only in UFOX61

Only in SPCL

1 security, 35.0% of SPCL by weight

  • United States Treasury Bill 11/19/202635.01%

Only in UFOX

61 securities, 99.3% of UFOX by weight

  • Apple Inc5.87%
  • NVIDIA Corp4.91%
  • Space Exploration Technologies Corp4.90%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in SPCL and UFOX, widest gap first
HoldingMore in SPCLMore in UFOX
First American Government Obligations Fund 12/01/2031SPCL +8.07 points

All 17 SPCL holdings⁠All 63 UFOX 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.

SPCL vs UFOX Cost

Overpaying SPCL vs UFOX

$17,070

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

  • SPCL 1.29%

    $23,219

  • UFOX 0.30%

    $6,149

$10,000
30 years

Cost over time

  • SPCL 1.29%
  • UFOX 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530SPCL $23,219UFOX $6,149

Year by year

YearSPCLUFOXOverpaying
10$2,247$545$1,702
20$8,335$2,113$6,222
30$23,219$6,149$17,070

Expense ratio

  • 1.29%SPCL
  • 0.30%UFOX, cheaper
  • Middle half of Space funds
  • Median 0.75%

UFOX cheapest of 15 funds

SPCL 15th cheapest of 15 funds

SPCL vs UFOX Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SPCL No data
UFOX 0.48%
Payout (12M)
SPCL None
UFOX $0.37
Last payment
SPCL No data
UFOX $0.06
Ex-dividend
SPCL No data
UFOX Sep 23, 2026
Paid on
SPCL No data
UFOX Sep 24, 2026
Frequency
SPCL No data
UFOX Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

SPCLAll SPCL payments⁠

No distribution history available.

UFOXQuarterly · 30 paymentsAll UFOX payments⁠
One bar per payment. 30 payments from 2019 to 2026 YTD. Jun 24, 2019 $0.06; Sep 17, 2019 $0.07; Dec 26, 2019 $0.06; Mar 24, 2020 $0.05; Jun 23, 2020 $0.10; Sep 22, 2020 $0.08; Dec 29, 2020 $0.10; Mar 24, 2021 $0.06; Jun 23, 2021 $0.12; Sep 22, 2021 $0.09; Dec 29, 2021 $0.23; Mar 23, 2022 $0.09; Jun 22, 2022 $0.16; Sep 21, 2022 $0.10; Dec 28, 2022 $0.13; Mar 22, 2023 $0.09; Jun 21, 2023 $0.17; Sep 20, 2023 $0.13; Dec 27, 2023 $0.12; Mar 20, 2024 $0.08; Jun 26, 2024 $0.11; Sep 25, 2024 $0.09; Dec 27, 2024 $0.09; Mar 26, 2025 $0.08; Jun 25, 2025 $0.10; Sep 24, 2025 $0.07; Dec 29, 2025 $0.10; Mar 25, 2026 $0.10; Jun 24, 2026 $0.11; Sep 23, 2026 $0.06. Use the arrow keys to read each point.$0$0.25202020232026YTD

SPCL vs UFOX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SPCL No dataUFOX 27.7%
Return per unit of riskSharpe ratio, 3 years
SPCL No dataUFOX 1.17
Worst fallMax drawdown, 5 years
SPCL No dataUFOX −33.9%
Market sensitivityBeta, 5 years
SPCL 9.53UFOX 1.58

SPCL and UFOX in the news

All news⁠

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