Defiance Daily Target 2X Short MU ETF

Defiance Daily Target 2X Short MU ETF is a leveraged inverse exchange-traded fund that provides daily targeted -2x exposure to the share price performance of Micron Technology, Inc. It is designed to deliver twice the opposite of Micron’s daily return, before fees and expenses, giving market participants a tool to express short-term bearish views on the semiconductor memory and storage segment. The fund achieves its objective primarily through swaps and other derivatives referencing Micron, rather than direct ownership of the underlying stock, and it resets its exposure on a daily basis. This structure makes it a specialized instrument aimed at active traders seeking tactical positioning around short-term moves in a single semiconductor issuer, within the operational transparency and trading flexibility of an ETF format. The ETF is part of Defiance’s lineup of leveraged and inverse single-stock products and distributes income, if any, on a monthly basis.