Defiance Daily Target 2X Long IONQ ETF

Frequently Asked Questions About IONX

What does IONX invest in?

The Fund seeks daily leveraged investment results of 2x (200%) the daily percentage change in the share price of IonQ, Inc. and in the share price of the Underlying Security. It is an actively-managed exchange traded fund that attempts to achieve daily percentage change for a single day, and not for any other period.

What is the expense ratio of IONX?

Defiance Daily Target 2X Long IONQ ETF (IONX) charges an expense ratio of 1.38%. This is the annual fee deducted from fund assets to cover management and operations.

Is IONX a good long-term hold?

IONX 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 IONX's daily reset work?

IONX 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 IONX?

Defiance Daily Target 2X Long IONQ ETF (IONX) manages $117.1M 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 IONX actively managed or an index fund?

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