Defiance Daily Target 2X Long AMAT ETF

Frequently Asked Questions About AMA

What does AMA invest in?

This actively managed exchange-traded fund (ETF) is designed to provide a daily return that is two times (200%) the percentage movement of its underlying asset. It achieves this leveraged exposure by utilizing various derivative instruments, including swap agreements and/or exchange-traded options contracts. This investment vehicle is also characterized as non-diversified.

What is the expense ratio of AMA?

Defiance Daily Target 2X Long AMAT ETF (AMA) charges an expense ratio of 1.29%. This is the annual fee deducted from fund assets to cover management and operations.

Is AMA a good long-term hold?

AMA is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does AMA's daily reset work?

AMA rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is AMA?

Defiance Daily Target 2X Long AMAT ETF (AMA) manages $32.7M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is AMA actively managed or an index fund?

AMA's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.