BU
Defiance Daily Target 2X Long B ETF
Distribution Rate *
Distribution Frequency
30-Day SEC Yield **
Daily Target 2X Long B (Barrick Mining Corporation) ETF
Overview
The Defiance Daily Target 2X Long B ETF provides investors with amplified long exposure to Barrick Mining Corporation (NYSE: B), one of the world’s largest and most established gold and copper producers. BU seeks to deliver 200% of the daily performance of Barrick’s stock, offering active traders a tactical way to express bullish views on the mining and metals sector—without the need for a margin account.
Through the use of derivatives such as swaps and options, BU enables investors to take short-term, leveraged positions in Barrick’s stock performance within the accessibility and transparency of an ETF structure.
Investment Objective
The Fund seeks daily investment results, before fees and expenses, of two times (200%) the daily percentage change in the share price of Barrick Mining Corporation (NYSE: B). The Fund does not seek to achieve its stated investment objective for any period other than a single trading day.
Underlying Stock: Barrick Mining Corporation (NYSE: B)
Barrick Mining Corporation is a global leader in gold and copper mining, operating mines and projects across North America, South America, Africa, and the Middle East. Headquartered in Toronto, Canada, Barrick is recognized for its scale, operational discipline, and commitment to sustainability in the mining industry.
The company’s performance is primarily influenced by:
- Fluctuations in gold and copper prices,
- Global inflation and interest rate trends,
- Currency movements, particularly in the U.S. dollar,
- Government regulation and environmental policies, and
- Geopolitical and macroeconomic conditions affecting commodity markets.
Barrick’s portfolio includes some of the world’s most productive mining assets and joint ventures, such as the Nevada Gold Mines partnership and Pueblo Viejo mine. The company’s long-term strategy emphasizes disciplined capital allocation, responsible mining, and shareholder returns.
An investment in the Fund is not an investment in Barrick Mining Corporation.
The Fund is not suitable for all investors. It 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. The Fund pursues daily leveraged investment objectives, which means it is riskier than alternatives that do not use leverage. The Fund magnifies the performance of the Underlying Security and is designed strictly for short-term use. For periods longer than a single day, the Fund’s performance will be the result of compounded daily returns, which is very likely to differ from 200% of the return of Barrick’s stock over the same period. It is possible investors could lose their entire principal within a single trading day.
BUMarket Price
Performance
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | 6.39% | 6.39% | xx.xx% | xx.xx% | 37.31% |
| Market Price (%) | 5.00% | 5.00% | xx.xx% | xx.xx% | 35.91% |
| 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% | 8.45% | xx.xx% | xx.xx% | 29.07% |
| Market Price (%) | xx.xx% | 8.34% | xx.xx% | xx.xx% | 29.44% |
| 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% | xx.xx% | xx.xx% | xx.xx% | 19.01% |
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | 19.47% |
| 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% |
Fund Details
Data as of 02/17/2026Top Holdings
| Name | Symbol | Stock price | % Net assets | Shares Held | Market Value |
|---|---|---|---|---|---|
| Barrick Mng Corp Swap Cf-l | 06849F108-TRS-1/11/27-L-BU | $48.22 | 64.24% | 19,840 | $956,685 |
| Barrick Mng Corp Swap Cs | 06849F108-TRS-01/11/28-L-BU | $48.22 | 58.81% | 18,163 | $875,820 |
| Barrick Mng Corp Swap Bmo | 06849F108-TRS-11/30/26-L-BU | $48.22 | 33.03% | 10,200 | $491,844 |
| Barrick Mng Corp Swap Marex | 06849F108-TRS-11/19/28-L-BU | $48.22 | 22.16% | 6,844 | $330,018 |
| Barrick Mng Corp Swap Nm | 06849F108-TRS-11/20/28-L-BU | $48.22 | 21.70% | 6,700 | $323,074 |
| First American Government Obligations Fund 12/01/2031 | FGXXX | $100.00 | 13.50% | 201,074 | $201,074 |
| United States Treasury Bill 03/19/2026 | 912797PV3 | $99.72 | 2.01% | 30,000 | $29,916 |
| United States Treasury Bill 02/19/2026 | 912797PM3 | $100.00 | 1.34% | 20,000 | $20,000 |
| Cash & Other | Cash&Other | $1.00 | -116.82% | -1,739,603 | $-1,739,603 |
| Download Fund Documents |
|---|
Distributions
Declaration Date |
Ex-Div Date |
Record Date |
Payable Date |
Amount ($) |
|---|---|---|---|---|
12/29/2026 |
12/30/2026 |
12/30/2026 |
12/31/2026 |
$– |
| Declaration Date | Ex-Div Date | Record Date | Payable Date | Amount ($) | |
|---|---|---|---|---|---|
| 12/29/2025 | 12/30/2025 | 12/30/2025 | 12/31/2025 | — |
| Distribution Rate *
Payable As of |
-% |
| Distribution Frequency | Monthly |
| 30-Day SEC Yield ** As of — |
-% |
