Defiance Daily Target 2X Long SOUN ETF

Defiance Daily Target 2X Long SOUN ETF is a leveraged exchange-traded fund designed to deliver twice the daily performance of SoundHound AI, Inc. by using derivatives rather than holding the stock directly. The fund is built for short-term, tactical exposure to a single underlying company and resets its leverage every day, which makes its return profile different from a traditional equity ETF. It primarily uses swap agreements and may also use listed options to pursue its objective, while maintaining a non-diversified structure. Managed under the Defiance brand, the ETF is part of the market for specialized single-stock products that provide concentrated, amplified exposure to a narrow theme. As a result, it serves traders seeking targeted participation in SoundHound AI’s day-to-day share price movements within a regulated fund format.