Defiance Daily Target 2x Short QBTS ETF drawdown: 93.3% below the all-time high (price)
Defiance Daily Target 2x Short QBTS ETF is 93.3% below its all-time high, set Nov 21, 2025 (as of market close, Oct 27, 2026), measured on price alone — dividends are not included, the convention headlines and crash histories use. The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown.
- Below all-time high
- −93.3%
- 6.7% of ATH
- All-time high
- $411.9
- Nov 21, 2025
- Time below the high
- 11 mo
- since Nov 21, 2025
- Worst-ever drawdown
- −96.6%
- Aug 4, 2026
- Longest underwater
- 11 mo
- between all-time highs
- Today's level first reached
- Oct 7, 2025
- 13 mo ago
- Last time this deep
- never before
- no prior −93.3% episode
% of all-time high since 2025: price#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater. Basis and range are in the URL, so a particular view is a link.
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Nov 21, 2025 | Aug 4, 2026 | −96.6% | 8 mo | not yet | 11 mo+ |
| Oct 10, 2025 | Oct 15, 2025 | −56.2% | 5 days | Oct 22, 2025 | 12 days |
| Oct 22, 2025 | Oct 31, 2025 | −53.2% | 9 days | Nov 17, 2025 | 26 days |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2025: how far Defiance Daily Target 2x Short QBTS ETF stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: a single asset's history is one surviving sample, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is Defiance Daily Target 2x Short QBTS ETF from its all-time high?
- Defiance Daily Target 2x Short QBTS ETF is currently 93.3% below its all-time high, set Nov 21, 2025 (as of market close, Oct 27, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest Defiance Daily Target 2x Short QBTS ETF drawdown ever?
- The deepest decline on record in our data (since 2025) took Defiance Daily Target 2x Short QBTS ETF 96.6% below its prior high, bottoming Aug 4, 2026. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since -1 from QBTZ; no free deep history exists for Defiance Daily Target 2x Short QBTS ETF — for a 150-year drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year. Past performance does not predict future returns; not investment advice.