Defiance Daily Target 2X Short QBTS ETF (QBTZ)

Defiance Daily Target 2X Short QBTS ETF (QBTZ) is an exchange-traded fund in the Trading Inverse Equity category. It has $2.29M in assets and an expense ratio of 2.31%. The management has adopted a policy to have at least 80% of fund's net assets, plus borrowings for investment purposes, in financial instruments with economic characteristics that should provide 2 times the inverse exposure to the daily performance of the underlying security. For purposes of the 80% policy, derivatives will be valued at notional value. The fund is non-diversified.