At a glance
HOOX charges 1.32% a year. It has $9.8M in assets; it paid 35.31% of its price in distributions over the past 12 months, annual. Over the past year it returned −78.9% with distributions reinvested (S&P 500: +11.5%).
The short version
Defiance Daily Target 2X Long HOOD ETF (HOOX), issued by Tidal Financial Group, uses swaps and options to seek twice the daily percentage move in Robinhood Markets (HOOD) stock, resetting its leverage every trading day. It is built for traders seeking magnified one-day bets on a single company, not long-term holders. It charges 1.32% a year, and its swings are extreme: the fund fell 78.9% in the year to October 27, 2026.
Price history
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HOOX -78.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| HOOX price data to Oct 27, 2026 | -60.0% | -78.9% | — | — | — | +36.9% |
- Over the year to Oct 27, 2026, HOOX returned -78.9%.
- The deepest fall in its price history was 87.1% (Oct 9, 2025 to Mar 30, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -60.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jul 31, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (4.96% of net assets), with its exposure coming from 7 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 6.82% |
By country
United States 6.82%By asset type
Bonds and notes 6.82%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $11.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +58.85%, +6.80%, -29.47%.
How it works
HOOX is actively managed and tracks no index. It aims for two times (200%) the daily percentage change in Robinhood Markets, Inc. (HOOD) stock, before fees, from one market close to the next. Rather than owning HOOD shares, it uses swap agreements and listed options. A swap is a contract in which the fund and a financial institution exchange the return on a set dollar amount of HOOD stock. The options are mainly call options (rights to buy HOOD at a fixed strike price) with strikes below the market price that expire within a month. As of July 31, 2026, the fund had about $9.8 million in net assets. It held swaps with firms including Marex, BMO and Nomura, and Treasury bills as collateral.
At the end of each day, the adviser values the swaps and options and rebalances to keep exposure near 200% of the fund's assets. Over longer periods, returns compound day by day and will very likely differ from twice HOOD's return. The prospectus warns the fund will lose money if HOOD is flat over time and may lose money even if HOOD rises. Constant rebalancing drove portfolio turnover of 32,932%.
If swaps are scarce, the fund may rely more on options, which the prospectus calls less efficient. Market conditions or counterparty problems can also push its leverage well away from 2X.
What it really costs
- HOOX charges 1.32% a year.
- Of that, 1.29% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $134 in the first year and $1,590 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| HOOX | $134 | $418 | $723 | $1,590 |
Structure and tax notes
- Resets its exposure every day. Over periods longer than a day, compounding means returns can differ sharply from 2× the index — usually worse in choppy markets. Built for short-term trading, not buy-and-hold.
In a retirement portfolio
HOOX resets 2X leverage on one stock every day, and its prospectus says investors should not plan to hold it unmonitored for longer than one trading day.
HOOX launched on March 18, 2025, so it has no record through the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. It also has no full calendar year of results. Its short record is harsh. It fell 87.1% from a peak on October 9, 2025, to a low on March 30, 2026, and had not recovered as of October 27, 2026. Someone who needed to sell during that slump would have locked in deep losses.
The trailing 12-month yield was 35.31% as of October 27, 2026, from distributions of about $8.77 per share paid annually. That is not dependable income, and it could shrink or vanish. In the SEC's standard example, $10,000 would incur about $134 in costs over one year and $1,590 over ten, assuming 5% yearly returns. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders seeking a magnified one-day bet on Robinhood (HOOD) stock who can watch positions daily, as the prospectus expects.
- Experienced investors who understand how daily resets and compounding can erode leveraged returns, even in periods when HOOD rises.
- Traders who can tolerate extreme swings; volatility, a measure of how widely prices move, was 140.7% over the year to October 27, 2026.
Look elsewhere if
- Retirees and long-term savers: HOOX fell 87.1% from its October 2025 peak and had not recovered as of October 27, 2026.
- Income seekers drawn by the 35.31% trailing yield (as of October 27, 2026); annual payouts like this can vary widely or stop.
- Cost-conscious investors: the 1.32% expense ratio means about $134 in costs on $10,000 after one year, per the SEC's standard example.
Close alternatives
Matched by leveraged/inverse funds on the same index (the index could not be identified from the name).
No close alternatives found.
Questions investors ask
Is HOOX good for retirement or long-term investing?
Not by design. HOOX seeks twice Robinhood's daily stock move for a single trading day. Its prospectus says investors should not plan to hold it unmonitored for longer than that. Because leverage resets daily, returns compound and can drift far from twice HOOD's return over time. The fund lost 78.9% in the year to October 27, 2026. It also fell 87.1% from its October 9, 2025, peak to its March 30, 2026, low and had not regained that peak by late October 2026.
What's the difference between HOOX and buying HOOD stock?
HOOX does not own Robinhood shares. It uses swaps and options to seek 2X HOOD's daily move, resets that exposure every day, and charges a 1.32% expense ratio. Owning HOOD directly means unleveraged exposure, shareholder voting rights and no fund fee. HOOX holders have no say in how HOOD is run. Over longer stretches, HOOX can lose money even when HOOD rises, because daily compounding in a volatile stock erodes leveraged returns.
Does HOOX pay a dividend?
HOOX pays an annual distribution rather than regular dividends. Its trailing 12-month yield was 35.31% as of October 27, 2026, based on about $8.77 per share. That figure is not a steady income stream. Payouts from leveraged funds like this usually come from trading gains and interest on collateral, not company dividends. They can change sharply or stop from year to year. A distribution also lowers the fund's share price by the amount paid.
What is the HOOX expense ratio?
HOOX's expense ratio is 1.32%, including a 1.29% management fee, according to its prospectus filed August 26, 2026. The SEC's standard example assumes $10,000 invested and a 5% yearly return. On that basis, costs would total about $134 after one year, $418 after three, $723 after five and $1,590 after ten. Financing costs on the leverage also weigh on returns, as does trading from daily rebalancing, which drove portfolio turnover of 32,932%.
Can HOOX lose money if Robinhood stock goes up?
Yes. Because HOOX resets to 2X every day, its return over weeks or months is each day's result compounded, not twice HOOD's total move. In a choppy stock, that compounding can wear down gains. The prospectus states the fund will lose money if HOOD is flat over time and may lose money even when HOOD rises. Swings have been extreme: the fund's one-year volatility was 140.7% as of October 27, 2026.