At a glance
ROBN charges 1.05% a year. It has $126.2M in assets; it paid 11.01% of its price in distributions over the past 12 months, annual. Over the past year it returned −78.6% with distributions reinvested (S&P 500: +11.5%).
The short version
T-Rex 2X Long HOOD Daily Target ETF (ROBN), from Tuttle Capital Management, aims to deliver twice the daily return of a single stock, Robinhood Markets (HOOD), mainly through swap agreements. Because its exposure resets every day, returns over weeks or months can differ sharply from 2× HOOD. It charges 1.05% a year and lost 78.6% in the 12 months to October 27, 2026, which makes it a short-term trading tool, not a long-term holding.
Price history
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ROBN -78.6% 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 | |
|---|---|---|---|---|---|---|
| ROBN price data to Oct 27, 2026 | -59.2% | -78.6% | — | — | — | -2.6% |
- Over the year to Oct 27, 2026, ROBN returned -78.6%.
- The deepest fall in its price history was 86.8% (Oct 9, 2025 to Mar 30, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -59.2% |
| 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 Jun 30, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (14.16% of net assets), with its exposure coming from 4 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight | |
|---|---|---|
| The Laddered T-Bill ETF | 0.00% |
By country
United States 0%By asset type
Stocks 0%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $34.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +3.36%, +59.29%, +6.90%.
How it works
ROBN does not track an index. Its goal is 200% of HOOD's return for one trading day, before fees. A trading day here runs from one market close to the next. The fund gets this exposure mainly through swap agreements. A swap is a contract in which a financial firm agrees to pay the fund twice HOOD's daily return. As of June 30, 2026, the fund's swaps were with Cantor, Clear Street, Jane Street and Marex. The adviser may also purchase exchange-listed call options on HOOD, including FLEX options. These are customizable option contracts listed on the Chicago Board Options Exchange and guaranteed by the OCC clearinghouse. The fund can also hold HOOD shares directly, but shares alone do not provide leverage.
At each day's close, the adviser resets the fund's exposure to 2×. It adds exposure after HOOD rises and cuts it after HOOD falls. Because of this reset, returns over longer periods compound day by day, and they can fall well short of 2× HOOD when the stock swings up and down. If HOOD fell more than 50% in a single day, holders would lose all their money.
The rest of the money is held in cash-like assets: money market funds, short-term US government debt and a small stake in The Laddered T-Bill ETF, a related fund. ROBN is non-diversified and concentrated in the capital markets industry. Its board can change the fund's objective without a shareholder vote.
What it really costs
- ROBN charges 1.05% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $107 in the first year and $1,281 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ROBN | $107 | $334 | $579 | $1,281 |
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
It targets twice the daily move of one stock, resets every day and lost 78.6% in the 12 months to October 27, 2026.
ROBN launched on January 31, 2025, so it has no record through the 2008, 2020 or 2022 downturns. Its own short history has been severe. The fund fell 86.8% between October 9, 2025 and March 30, 2026, and it had not recovered as of October 27, 2026. It was down 59.2% for 2026 through that date. Its one-year volatility, a measure of how widely the price swings, was 140.8%. Anyone who had to take money out during a slump like that would lock in deep losses. ROBN paid $2.43 per share in the 12 months to October 27, 2026, in one annual payout. That is an 11.01% trailing yield, but it is not dependable income. On costs, the SEC's standard example puts fees at $1,281 over 10 years on $10,000, assuming 5% yearly returns. Past results don't predict the future, and a retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders who want twice the one-day move of Robinhood Markets and can check their position every trading day.
- Short-term traders who accept a one-stock, non-diversified fund that fell 86.8% between October 2025 and March 2026.
- Experienced investors who understand daily compounding and swap counterparty risk, and accept a 1.05% expense ratio for leveraged exposure.
Look elsewhere if
- Retirees or long-term savers who want a fund to hold for years. Daily resets make multi-month returns hard to predict.
- Income seekers. The 11.01% trailing yield came from a single annual payout of $2.43 per share, not a regular income stream.
- Anyone who wants diversification. ROBN's exposure rests on one stock, and a one-day HOOD drop of more than 50% would wipe out holders.
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 ROBN a good long-term investment?
ROBN is not designed to be held for the long term. The prospectus says it seeks 200% of HOOD's return for a single trading day only. Over longer periods, daily compounding can pull results far from double HOOD's return. As of October 27, 2026, ROBN had lost 78.6% over one year and 59.2% in 2026 to date. Its deepest drop, 86.8% from October 2025 to March 2026, had not been recovered by that date.
What's the difference between ROBN and owning HOOD stock?
Owning HOOD shares gives one-for-one exposure to Robinhood Markets with no fund fee. ROBN aims for twice HOOD's daily move, charges 1.05% a year and resets every day, so its long-term return can differ sharply from double HOOD's. It also relies on swap counterparties such as Cantor and Clear Street. If HOOD fell more than 50% in one day, the fund would lose everything. No other leveraged HOOD funds were identified for comparison.
Does ROBN pay a dividend?
ROBN pays distributions once a year. It paid $2.43 per share in the 12 months to October 27, 2026, which works out to a trailing yield of 11.01%. Since that figure comes from one annual payout, it is not a steady income stream. Over the same 12 months the share price fell 78.6%, so the payout was far smaller than the drop in value.
How does ROBN get 2x leverage on Robinhood?
ROBN gets most of its leverage from swap agreements. These are contracts in which financial firms pay the fund twice HOOD's daily return. As of June 30, 2026, its swaps were with Cantor, Clear Street, Jane Street and Marex. It can also use listed call options or hold HOOD shares directly. At each market close, the adviser resets exposure to 2× net assets. Cash and short-term government debt back the positions.
What is ROBN's expense ratio?
ROBN's expense ratio is 1.05% a year, all of it a management fee, according to the prospectus filed April 30, 2026. The SEC's standard example assumes $10,000 invested and 5% yearly returns. On that basis, costs come to about $107 after one year, $579 after five years and $1,281 after ten. The fund had $126.2 million in net assets as of June 30, 2026.