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The Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX) surged nearly 50% Wednesday, delivering roughly twice the gains of its underlying stock as traders piled into Super Micro Computer Inc. (NASDAQ:SMCI) following a blockbuster preliminary fourth-quarter update.
If you put $10,000 into the Defiance Daily Target 2X Long SMCX ETF (NASDAQ:SMCX) on the morning of May 8, 2026, you were sitting on about $14,100 a month later.
Super Micro Computer plunged more than 20% after announcing a $7B equity raise, but one ETF emerged as today's top-performing fund.
A 2x daily leveraged ETF that owns nothing but swaps on a single AI server stock did what 2x daily leveraged ETFs on single AI server stocks do when the AI server trade breaks.
Top Performing Levered/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
The math of a 2x daily reset leveraged ETF is unforgiving in a way that takes most investors a few painful months to fully appreciate.
NEW YORK, March 12, 2026 (GLOBE NEWSWIRE) -- Tidal Financial Group and Defiance ETFs announce reverse stock splits for twenty four of Defiance's exchange-traded funds (“ETFs”). These reverse splits are intended to reduce the number of outstanding shares and proportionally increase each fund's share price, with no impact on the total value of shareholders' investments.
SEC filings for SMCX aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.