Defiance Daily Target 2X Long NVO ETF (NVOX) Performance
NVOX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −55.0% since Dec 31, 2025
- 1 year
- −61.6% total return
- Since first price
- −93.9% since 2024
NVOX trailing returns vs SPY, QQQ, AGG
| Period | NVOX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.6% | +2.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −38.4% | −38.4% | +3.2% | +1.9% | −0.4% |
| 6 months | −10.5% | −10.5% | +7.8% | +8.4% | −1.5% |
| YTD | −55.0% | −55.0% | +12.3% | +15.1% | −1.0% |
| 1 year | −61.6% | −61.6% | +14.4% | +15.9% | −1.1% |
| Since inceptionDec 3, 2024 | −93.9% | −93.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: NVOX vs SPY
From Dec 3, 2024: NVOX grew to $610, SPY to $12,875.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
NVOX returns by calendar year
0 of 1 full years positive. Best 2025 (−76.7%), worst 2025 (−76.7%). 2026 is year to date.
NVOX annual returns table
| Year | NVOX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −55.0% | −72.9% | +12.3% | +15.1% | −1.0% |
| 2025 | −76.7% | −82.2% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
NVOX largest drawdowns
Now 94.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 11, 2024 | −94.6% | Oct 2, 2026 | not yet | 1.8 years | 1.9 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
NVOX risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −73.1% |
| Volatility (annualized) | 94.2% |
| Sharpe ratio | -0.77 |
| Sortino ratio | -0.89 |
| Best month | +42.0% |
| Worst month | −64.5% |
| Best 12 months | −28.8% |
| Worst 12 months | −89.6% |
| Positive months | 38% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
NVOX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 11 | −89.6% | −68.8% | −28.8% | 0% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
NVOX performance overview
Defiance Daily Target 2X Long NVO ETF (NVOX) returned −61.6% over the past year, with distributions reinvested. Since its first recorded price on Dec 3, 2024 it has returned −93.9%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −94.6%, from Dec 11, 2024 to Oct 2, 2026; the fund has not yet regained that high. Volatility has been 94.2% a year.
Related: NVOX chart. See the NVOX overview for the latest quote and fund facts.
NVOX performance FAQ
What is the NVOX return over the past year?
NVOX returned −61.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 61.6%.
How much would $10,000 invested in NVOX be worth?
$10,000 invested in NVOX at its first recorded close on December 3, 2024 would be worth about $610 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of NVOX?
The largest peak-to-trough decline was −94.6% between December 11, 2024 and October 2, 2026. It has not yet recovered to that high; it is 94.2% below its peak.
How volatile is NVOX?
Over the past history NVOX had an annualized volatility of 94.2% and a Sharpe ratio of -0.77 (excess return over 1–3 month T-bills per unit of risk).