MSTX – Defiance Daily Target 2X Lng MSTR ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks daily leveraged investment results of 2.00 (200%) the daily percentage change in the share price of MSTR. The fund is an actively managed exchange traded fund (“ETF”) that attempts to achieve two times (200%) the daily percentage change in the share price of the underlying security by employing derivatives, namely swap agreements and/or listed options contracts. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
MSTX	Defiance Daily Target 2X Long MSTR ETF	ETF	Open	—	—	Aug 14, 2024	$363.90M	1.300%	—	—	$429.92M

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