Daily Target 2X Long HIMS ETF

Frequently Asked Questions About HIMZ

What does HIMZ invest in?

This exchange-traded fund, officially named the Defiance Daily Target 2X Short HIMS ETF (referred to as "the Fund"), is designed to deliver daily investment performance. Before accounting for fees and expenses, it seeks to provide results that are two times the inverse (-200%) of the day-to-day percentage shifts in the share price of Hims & Hers Health, Inc. (listed on the NYSE as HIMS). Given its strategy of seeking daily inverse leveraged returns, this Fund stands apart from most conventional exchange-traded funds, and there is no assurance that it will consistently meet its stated objective. Investors should be aware that holding this Fund for more than a single trading day means it is unlikely to achieve a cumulative return equal to -200% of HIMS's performance over that extended period.

What is the expense ratio of HIMZ?

Daily Target 2X Long HIMS ETF (HIMZ) charges an expense ratio of 1.31%. This is the annual fee deducted from fund assets to cover management and operations.

Is HIMZ a good long-term hold?

HIMZ 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 HIMZ's daily reset work?

HIMZ 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 HIMZ?

Daily Target 2X Long HIMS ETF (HIMZ) manages $91.0M 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 HIMZ actively managed or an index fund?

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