DRNL
Defiance 2X Daily Long Pure Drone and Aerial Automation ETF
Distribution Rate *
Distribution Frequency
30-Day SEC Yield **
2X Daily Long Pure Drone and Aerial Automation (BITA Pure Drone and Aerial Automation Index) ETF
Overview
The Defiance 2X Daily Long Pure Drone and Aerial Automation ETF (DRNL) provides investors with amplified long exposure to the BITA Pure Drone and Aerial Automation Index, a rules-based index focused on U.S.-listed companies directly involved in drone manufacturing, drone software and avionics, aerial automation, autonomous flight systems, and electric vertical take-off and landing (eVTOL) technologies.
The Index is designed to track companies that derive a majority of their revenue from drone and aerial automation-related activities, including unmanned aerial vehicle (UAV) production, AI-driven piloting systems, aerial data and inspection services, defense drone platforms, and advanced air mobility solutions.
DRNL seeks to deliver 200% of the daily performance of the BITA Pure Drone and Aerial Automation Index, offering active traders a tactical way to express short-term bullish views on drone innovation, autonomous systems, defense modernization, next-generation aviation, and the evolution of urban air mobility—without the need for a margin account.
Investment Objective
The Fund seeks daily investment results, before fees and expenses, that correspond to two times (2X) the daily performance of the BITA Pure Drone and Aerial Automation Index (the “Index”).
Underlying Index: BITA Pure Drone and Aerial Automation Index
The Index is designed to track companies that derive a majority of their revenue from drone and aerial automation-related activities, including:
The Index is designed to track companies that derive a majority of their revenue from drone and aerial automation-related activities, including:
- Drone & UAV manufacturing
- Drone software and avionics systems
- Drone services and “Drone-as-a-Service” solutions
- Autonomous drone technologies, including AI-driven flight systems
- Electric and urban air mobility (eVTOL) platforms
The Index includes U.S.-listed companies meeting minimum market capitalization and liquidity requirements and is equal-weighted. It is reconstituted and rebalanced annually.
The Index is expected to have significant exposure to companies within the Aerospace & Defense and Electronic Equipment, Instruments & Components industries.
An investment in DRNL is not a direct investment in the Index.
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. 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 Index 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 the Index over the same period. It is possible that investors could lose their entire principal within a single trading day.
DRNLMarket Price
Performance
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | xx.xx% | 1.42% | xx.xx% | xx.xx% | -42.42% |
| Market Price (%) | xx.xx% | 1.36% | xx.xx% | xx.xx% | -42.38% |
| 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% | -43.22% |
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | -43.16% |
| 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 | 1 Year | 3 Years | Since Inception | |
|---|---|---|---|---|---|---|---|
| Total Return (NAV) (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% |
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% |
| 1 Year | Since Inception | |
|---|---|---|
| Total Return (NAV) (%) | xx.xx% | xx.xx% |
| Market Price (%) | xx.xx% | xx.xx% |
Fund Details
Data as of 05/15/2026Top Holdings
| Name | Symbol | Stock price | % Net assets | Shares Held | Market Value |
|---|---|---|---|---|---|
| United States Treasury Bill 05/21/2026 | 912797SV0 | $99.98 | 30.65% | 60,000 | $59,988 |
| Joby Aviation Inc Swap Cant-l | G65163100-TRS-09/08/28-L-DRNL | $10.35 | 24.62% | 4,657 | $48,200 |
| Ondas Inc Com Swap Cant-l | 68236H204-TRS-09/08/28-L-DRNL | $9.70 | 22.42% | 4,524 | $43,883 |
| Eve Hldg Inc Swap Cant-l | 29970N104-TRS-09/08/28-L-DRNL | $2.88 | 22.41% | 15,230 | $43,862 |
| Archer Aviation Swap Cant-l | 03945R102-TRS-09/08/28-L-DRNL | $5.92 | 21.49% | 7,104 | $42,056 |
| Unusual Machs Inc Swap Cant-l | 91532F102-TRS-09/08/28-L-DRNL | $14.45 | 19.95% | 2,703 | $39,058 |
| Ehang Hldgs Swap Cant-l | 26853E102-TRS-09/08/28-L-DRNL | $9.32 | 18.40% | 3,864 | $36,012 |
| Aerovironment Inc Swap Cant-l | 008073108-TRS-09/08/28-L-DRNL | $161.52 | 16.01% | 194 | $31,335 |
| Kratos Defense & Sec Swap Cant-l | 50077B207-TRS-09/08/28-L-DRNL | $54.22 | 14.15% | 511 | $27,706 |
| Vertical Aerospace Swap Cant-l | G9471C206-TRS-09/08/28-L-DRNL | $2.43 | 13.77% | 11,090 | $26,949 |
| Download Fund Documents |
|---|
Distributions
Declaration Date |
Ex-Div Date |
Record Date |
Payable Date |
Amount ($) |
|---|---|---|---|---|
12/29/2026 |
12/30/2026 |
12/30/2026 |
12/31/2026 |
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| Declaration Date | Ex-Div Date | Record Date | Payable Date | Amount ($) | |
|---|---|---|---|---|---|
| No records found | |||||
| Distribution Rate *
Payable As of |
-% |
| Distribution Frequency | Monthly |
| 30-Day SEC Yield ** As of — |
-% |
