SOFX ETF — Holdings & Analysis

(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%

What does SOFX hold?

Holding	Weight
First American Government Obligs X (FGXXX)	11.76%

How Is the Fund Allocated?

Sector	Weight
Financial Services	100.0%

Country	Weight
Other	100.0%

Dividend Yield

0.00%

Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
State Street SPDR S&P 500 ETF (SPY) — 0.09% expense ratio

Daily Target 2X Long RKLB ETF (RKLX) (Equity) — 1.31% expense ratio
Daily Target 2X Short PLTR ETF (PLTZ) (Equity) — 1.29% expense ratio
Daily Target 2X Long OKLO ETF (OKLL) (Equity) — 1.31% expense ratio
S&P 500 Weekly Distribution ETF (WDTE) (Equity) — 1.03% expense ratio
Daily Target 2X Short LLY ETF (LLYZ) (Equity) — 1.29% expense ratio
Defiance BMNR Option Income ETF (YBMN) (Equity) — 0.85% expense ratio

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.

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. Investors should consider this 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.

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.

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.