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About Defiance Daily Target 2X Long SMCI ETF

SMCX uses swap agreements to make bullish bets on Super Micro Computer, Inc. (SMCI) share price. SMCI designs and manufactures high-performance computer server solutions for data centers and cloud providers. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in SMCI's share price through daily rebalancing. As a leveraged product, it is designed for short-term tactical use, not as a long-term investment vehicle. Returns may deviate from the expected 2x if held longer than a single day due to factors like volatility and compounding effects. This strategy is high-risk and does not incorporate a defensive position. SMCX fund could potentially lose value over time, even if SMCI's performance is strong. It is expected to invest in US Government securities, money market funds, short-term bond ETFs, and corporate debt as collateral.