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SOFX ETF — Holdings & Analysis

The Daily Target 2X Long SOFI ETF (SOFX), managed by Defiance, is a leveraged equity ETF with $0.05 billion in assets under management. SOFX aims to deliver twice the daily percentage change in the share price of SoFi Technologies, Inc. (SOFI) through the use of swap agreements. With a high expense ratio of 1.29%, SOFX is designed for short-term tactical maneuvers rather than long-term investment strategies due to its leveraged nature and daily rebalancing.

Daily Target 2X Long SOFI ETF (SOFX) ETF — Price, Holdings & Analysis

The Daily Target 2X Long SOFI ETF (SOFX), managed by Defiance, is a leveraged equity ETF with $0.05 billion in assets under management. SOFX aims to deliver twice the daily percentage change in the share price of SoFi Technologies, Inc. (SOFI) through the use of swap agreements. With a high expense ratio of 1.29%, SOFX is designed for short-term tactical maneuvers rather than long-term investment strategies due to its leveraged nature and daily rebalancing.

ETF Overview

SOFX uses swap agreements to make bullish bets on SoFi Technologies, Inc. (SOFI) share price. SOFI is an American personal finance and financial technology company that provides various financial services. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in SOFI's share price through daily rebalancing. As a leveraged product, it is designed for short-term tactical use, not as a long-term investment vehicle. Returns may deviate from the expected 2x if held longer than a single day due to factors like volatility and compounding effects. This strategy is high-risk and does not incorporate a defensive position. SOFX could potentially lose value over time, even if SOFI's performance is strong. It is expected to invest in US Government securities, money market funds, short-term bond ETFs, and corporate debt as collateral.
SOFX provides a leveraged exposure to the daily price movements of SoFi Technologies, Inc. (SOFI). The fund employs swap agreements to achieve a 200% leveraged position in SOFI's stock. This means that SOFX is designed to amplify the daily gains or losses of SOFI. The fund's strategy involves daily rebalancing to maintain the target leverage, which can lead to deviations from the expected 2x return over longer periods due to compounding and volatility. SOFX invests in US Government securities, money market funds, short-term bond ETFs, and corporate debt as collateral. The fund's holdings are heavily concentrated, with a significant portion of its assets in First American Government Obligs X (FGXXX) at 11.76%. SOFX is exclusively focused on the financial services sector, with 100% allocation. This ETF is designed for investors seeking short-term, high-risk exposure to SOFI's stock price movements and is not suitable for long-term investment strategies.

Risk Metrics

SOFX carries significant risks due to its leveraged nature and concentrated holdings. The fund's 2x leverage magnifies both potential gains and losses, making it highly volatile. The high expense ratio of 1.29% further erodes returns, especially if held for extended periods. The fund's concentration in a single stock (SOFI) and sector (financial services) exposes it to idiosyncratic risks specific to that company and industry. The fund's beta is currently 0.00, but this may not accurately reflect its true volatility due to its leveraged structure. As a leveraged product, SOFX is designed for short-term tactical use, not as a long-term investment vehicle. Returns may deviate from the expected 2x if held longer than a single day due to factors like volatility and compounding effects. Past performance does not guarantee future results.

Expense Ratio

1.29%

Top Holdings

Sector Allocation

  • Financial Services: 100.0%
  • Other: 100.0%

Dividend Yield

0.00%
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Risk Metrics

  • Beta: 0.00

Questions & Answers

What is SOFX and what does it track?

SOFX, or the Daily Target 2X Long SOFI ETF, is a leveraged ETF managed by Defiance that seeks to provide twice the daily percentage change in the share price of SoFi Technologies, Inc. (SOFI). It uses swap agreements to achieve this 200% leveraged exposure. The fund rebalances daily, which can cause returns to deviate from the expected 2x over longer periods due to compounding and volatility. SOFX is designed for short-term tactical trading rather than long-term investment, given its leveraged nature and associated risks. The fund has $0.05 billion in assets under management.

What is the expense ratio for SOFX?

The expense ratio for SOFX is 1.29%. This is significantly higher than the average expense ratio for equity ETFs, which is around 0.44%. The high expense ratio reflects the costs associated with managing a leveraged ETF, including the use of swap agreements and daily rebalancing. this may be worth researching high expense ratio when evaluating the potential returns of SOFX, especially for longer holding periods.

What are the top holdings in SOFX?

As of 2026-03-15, the top holding in SOFX is First American Government Obligs X (FGXXX), comprising 11.76% of the fund's assets. While SOFX aims to track the performance of SOFI through swap agreements, it also holds collateral assets. The fund's collateral holdings may include US Government securities, money market funds, short-term bond ETFs, and corporate debt. These holdings are used to support the fund's leveraged position in SOFI.

Is SOFX a good long-term investment?

SOFX is generally not considered suitable for long-term investment due to its leveraged nature and daily rebalancing. The fund is designed to deliver twice the daily percentage change in SOFI's share price, which means that its performance can deviate significantly from SOFI's performance over longer periods due to compounding and volatility. The high expense ratio of 1.29% also erodes returns over time. Investors seeking long-term exposure to SOFI or the financial technology sector may want to consider alternative, non-leveraged ETFs or individual stocks. Past performance does not guarantee future results.

How does SOFX compare to similar ETFs?

SOFX is unique in its focus on providing leveraged exposure specifically to SoFi Technologies, Inc. (SOFI). While there are other leveraged ETFs available, many target broader market indices or sectors. SOFX's expense ratio of 1.29% is higher than many non-leveraged ETFs. SOFX's AUM is $0.05 billion, which is relatively small compared to more established leveraged ETFs. Its strategy of using swap agreements to achieve 2x daily leverage on SOFI distinguishes it from ETFs that use other methods of leverage.

Does SOFX pay dividends?

As of 2026-03-15, SOFX has a dividend yield of 0.00%. This indicates that the fund does not currently distribute any dividends to its shareholders. The fund's focus is on providing leveraged exposure to the price movements of SOFI, rather than generating income through dividends. Investors seeking dividend income may want to consider alternative ETFs with a focus on dividend-paying stocks.