Defiance Daily Target 2X Long ANET ETF

Frequently Asked Questions About ANEL

What does ANEL invest in?

This Fund aims to deliver daily returns that, prior to accounting for fees and expenses, are double (200%) the daily percentage movement in Arista Networks, Inc.'s share price. It's critical to understand that this investment objective is designed exclusively for a single trading day and is not intended to apply to periods longer than one day.

What is the expense ratio of ANEL?

Defiance Daily Target 2X Long ANET ETF (ANEL) charges an expense ratio of 1.45%. This is the annual fee deducted from fund assets to cover management and operations.

Is ANEL a good long-term hold?

ANEL 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 with 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 ANEL's daily reset work?

ANEL 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 ANEL?

Defiance Daily Target 2X Long ANET ETF (ANEL) manages $11.6M 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 ANEL actively managed or an index fund?

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