Defiance Daily Target 2X Long DRAM ETF (DRAL) is an exchange-traded fund in the Trading Leveraged Equity category. It has $2.85M in assets and an expense ratio of 1.31%. The fund has adopted a policy to have at least 80% exposure to financial instruments with economic characteristics that should perform 2X the daily performance of the Underlying Security’s shares. It is expected to allocate between 40% and 60% of its assets as collateral for swap agreements or as premiums for purchased options contracts. The fund is non-diversified.