- What does BMNZ invest in?
- BMNZ uses swap agreements to make bearish bets on BitMine Immersion Technologies, Inc.'s (NYSE: BMNR) share price. BMNR is a technology company focused on cryptocurrency mining operations that utilize immersion cooling systems to enhance energy efficiency and mining performance. The fund maintains a daily leveraged exposure equivalent to -200% of the fund's net assets through daily rebalancing. As a geared product, the fund is intended as a short-term tactical tool, rather than as a long-term investment vehicle. As a result, returns may deviate from the expected -2x if held for longer than a single day due to compounding. This strategy is high-risk and does not include a defensive position as part of its overall process. Additionally, the fund could potentially lose money over time, even if BMNR' performance strengthens. The fund is expected to invest in cash-like instruments as collateral.
- What is the expense ratio of BMNZ?
- Tidal Trust II - Defiance Daily Target 2X Short BMNR ETF (BMNZ) charges an expense ratio of 1.31%. This is the annual fee deducted from fund assets to cover management and operations.
- Is BMNZ a good long-term hold?
- BMNZ 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 BMNZ's daily reset work?
- BMNZ 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 BMNZ?
- Tidal Trust II - Defiance Daily Target 2X Short BMNR ETF (BMNZ) manages $19.6M 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 BMNZ actively managed or an index fund?
- BMNZ's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.
