Key stats
About Defiance Daily Target 2X Short SMCI ETF
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Inception date
Mar 31, 2025
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
SMCZ uses swap agreements to make bearish bets on Super Micro Computer (SMCI share price. Super Micro Computer is a leading provider of high-performance server and storage solutions, with a strong emphasis on enabling artificial intelligence technologies. The fund aims to maintain daily inverse exposure equivalent to 200% of the shares. As a geared product, the fund is intended as a short-term tactical tool, rather than as a long-term investment vehicle. As a result, returns may deviate from the expected -2x if held for longer than a single day due to compounding. This strategy is high-risk and does not include a defensive position as part of its overall process. Additionally, the fund could potentially lose money over time, even if shares of Super Micro Computer's performance strengthens. The fund is expected to invest in T-bills, money market funds, short-term bond ETFs, and corporate debts as collateral.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Miscellaneous
Bonds, Cash & Other100.00%
Cash62.05%
Miscellaneous30.90%
Mutual fund7.05%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
SMCZ assets under management is 18.21 M USD. It's risen 17.50% over the last month.
SMCZ fund flows account for 25.52 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
No, SMCZ doesn't pay dividends to its holders.
SMCZ shares are issued by Toroso Investments Topco LLC under the brand Defiance. The ETF was launched on Mar 31, 2025, and its management style is Active.
SMCZ expense ratio is 1.29% meaning you'd have to pay 1.29% of your investment to help manage the fund.
SMCZ follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
SMCZ invests in cash.
SMCZ trades at a premium (0.02%) meaning the ETF is trading at a higher price than the calculated NAV.