Defiance 2X Daily Long Pure Quantum ETF

Defiance 2X Daily Long Pure Quantum ETF is a leveraged exchange-traded fund designed to deliver twice the daily return of an actively managed basket of companies focused on quantum computing and related technologies. Its target portfolio concentrates on a small group of “pure quantum” names—recently including IONQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc.—and is rebalanced daily to maintain equal weights, with constituents reaffirmed or adjusted at least quarterly. The fund seeks its 2x objective only for a single trading day and employs derivatives such as swaps and listed options to achieve its exposure, operating as a non-diversified product. Positioned as a thematic instrument, it provides amplified, short-horizon access to developments in quantum hardware, hybrid quantum-classical systems, and quantum software, aligning with areas influencing advanced computing and machine learning. The issuer emphasizes that outcomes over periods longer than one day can deviate from the target due to compounding, and the product is intended for knowledgeable users who actively monitor positions and understand leveraged ETF risks.