RKLX | Defiance Daily Target 2X Long RKLB ETF
$RKLX

RKLX

$

Defiance Daily Target 2X Long RKLB ETF

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Distribution Rate *
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Payable As of
Distribution Frequency
Monthly
30-Day SEC Yield **
As of —
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rating

RKLX, Daily Target 2X Long RKLB (Rocket Lab USA, Inc) ETF

The Defiance Daily Target 2X Long RKLB ETF (the “Fund”) seeks daily leveraged investment results of two times (200%) the daily percentage change in the share price of Rocket Lab USA, Inc. (NASDAQ: RKLB) (the “Underlying Security” or “RKLB”). Because the Fund seeks daily leveraged investment results, it is very different from most other exchange-traded funds. It is also riskier than alternatives that do not use leverage. There is no guarantee that the Fund will meet its stated objective. The fund should not be expected to provide 2 times the cumulative return of RKLB for periods greater than a day.

Underlying Security: Rocket Lab USA, Inc. (NASDAQ: RKLB)

Rocket Lab USA, Inc. is a leading aerospace company that specializes in small satellite launch services, spacecraft manufacturing, and advanced space systems. The company provides reliable and cost-effective access to orbit through its Electron rocket, develops satellite platforms such as Photon for various applications, and is advancing the development of its medium-lift Neutron rocket. RKLB is listed on The Nasdaq Stock Market LLC (“NASDAQ”). According to Rocket Lab’s most recent Form 10-K filing, the aggregate market value of the voting stock held by non-affiliates as of June 30, 2023, was approximately $1.76 billion.

The Fund may not achieve investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the underlying security, and may return substantially less during such periods. During such periods, the Fund’s actual leverage levels may differ substantially from its intended target, both intraday and at the close of trading, potentially resulting in significantly lower returns.

RKLXMarket Price

Performance

YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) -16.78% -32.06% 102.72% 19.58% 470.31%
Market Price (%) -16.81% -32.20% 102.45% 19.47% 470.70%
1 Year 3 Years 5 Years Since Inception
Total Return (%) xx.xx% xx.xx% xx.xx% xx.xx%
Market Price (%) xx.xx% xx.xx% xx.xx% xx.xx%
YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) 22.50% 22.50% 23.33% 88.73% 739.46%
Market Price (%) 22.69% 22.69% 23.78% 88.92% 741.74%
1 Year 3 Years 5 Years Since Inception
Total Return (%) xx.xx% xx.xx% xx.xx% xx.xx%
Market Price (%) xx.xx% xx.xx% xx.xx% xx.xx%
YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) xx.xx% 143.59% 62.02% 137.71% 585.29%
Market Price (%) xx.xx% 143.37% 62.24% 137.92% 586.05%
1 Year 3 Years 5 Years Since Inception
Total Return (%) xx.xx% xx.xx% xx.xx% xx.xx%
Market Price (%) xx.xx% xx.xx% xx.xx% xx.xx%
YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) xx.xx% -58.67% -41.01% 62.84% 181.33%
Market Price (%) xx.xx% -58.55% -40.99% 63.56% 181.90%
1 Year 3 Years 5 Years Since Inception
Total Return (%) xx.xx% xx.xx% xx.xx% xx.xx%
Market Price (%) xx.xx% xx.xx% xx.xx% xx.xx%
YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) xx.xx% 60.93% 53.03% 455.76% 580.67%
Market Price (%) xx.xx% 60.83% 52.63% 456.96% 580.05%
1 Year 3 Years 5 Years Since Inception
Total Return (%) xx.xx% xx.xx% xx.xx% xx.xx%
Market Price (%) xx.xx% xx.xx% xx.xx% xx.xx%
YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) xx.xx% -11.32% 46.71% 365.21% 322.96%
Market Price (%) xx.xx% -11.48% 46.64% 365.95% 322.85%
1 Year 3 Years 5 Years Since Inception
Total Return (%) xx.xx% xx.xx% xx.xx% xx.xx%
Market Price (%) xx.xx% xx.xx% xx.xx% xx.xx%
YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) xx.xx% 7.23% 176.06% xx.xx% 376.92%
Market Price (%) xx.xx% 7.22% 177.17% xx.xx% 377.70%
1 Year 3 Years 5 Years Since Inception
Total Return (%) xx.xx% xx.xx% xx.xx% xx.xx%
Market Price (%) xx.xx% xx.xx% xx.xx% xx.xx%
2025
Total Return NAV(%) xx.xx%
Market Price (%) xx.xx%
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling 833.333.9383. Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Market price is the price at which shares in the ETF can be brought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.

Fund Details

 Data as of 03/12/2026
Net Assets $154.71M
Premium/discount 0.29%
NAV $31.90
Closing Price $31.99
Shares Outstanding 4,850,000
Median 30 Day Spread 0.35%
Fund inception 03/12/2025
Ticker RKLX
Primary Exchange NASDAQ
CUSIP 88636R222
Fund Holdings 10
NAV Symbol RKLX.NV
Expense Ratio 1.31%
30 Day SEC Yield* -0.52%
* Yield as of 02-28-2026
The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. For periods longer than a single day, the Fund will lose money if the Underlying Security’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Security’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.


Top Holdings

View full holdings
Name Symbol Stock price % Net assets Shares Held Market Value
Rocket Lab Corp Inc Swap Ms-l 773121108-TRS-01/23/29-L-RKLX $68.41 40.88% 931,000 $63,689,710
Rocket Lab Corp Swap Cantor 773121108-TRS-09/21/26-L $68.41 29.76% 677,747 $46,364,672
Rocket Lab Corp Swap Clearstreet 773121108-TRS-08/25/26-L $68.41 28.64% 652,421 $44,632,121
Rocket Lab Corp Swap Bmo 773121108-TRS-09/30/26-L-RKLX $68.41 27.70% 631,000 $43,166,710
Rocket Lab Usa Marex 773121108-TRS-04/13/26-L $68.41 25.94% 590,896 $40,423,195
Rocket Lab Corp Swap Nomura 773121108-TRS-09/15/28-L-RKLX $68.41 25.03% 570,000 $38,993,700
Rocket Lab Corp Swap Nbc-l 773121108-TRS-01/31/33-L-RKLX $68.41 21.95% 500,000 $34,205,000
United States Treasury Bill 03/19/2026 912797PV3 $99.97 10.82% 16,863,000 $16,857,934
First American Government Obligations Fund 12/01/2031 FGXXX $100.00 1.58% 2,456,665 $2,456,665
Cash & Other Cash&Other $1.00 -112.37% -175,085,182 $-175,085,182
Data as of 03/16/2026. Fund holdings are subject to change at any time and should not be considered recommendations to buy or sell any security.
View full holdings
Download Fund Documents
Prospectus
Summary Prospectus
SAI
Premium Discount Graph
IntraDay Trades
Annual 4-30-25 TSR
Q1 Holdings 07-31-2025
10-31-25 Semi-Annual TSR
Annual 4-30-25 Financial Statement
Semi-Annual 10-31-25 Financial Statements

Distributions

2026 Distribution Schedule
entries per page
Declaration Date
Ex-Div Date
Record Date
Payable Date
Amount ($)
12/29/2026
12/30/2026
12/30/2026
12/31/2026
$–
12/29/2025
12/30/2025
12/30/2025
12/31/2025
$5.94640256
Declaration Date Ex-Div Date Record Date Payable Date Amount ($)
12/29/2025 12/30/2025 12/30/2025 12/31/2025 $5.94640256
Distribution Rate *
Payable As of 		-%
Distribution Frequency Monthly
30-Day SEC Yield **
As of —		 -%