ETFs
- - - ONDL Daily Target 2X Long ONDS ETF
      
      MSTX Daily Target 2X Long MSTR ETF
      
      SMCX Daily Target 2X Long SMCI ETF
      
      ORCX Daily Target 2X Long ORCL ETF
      
      IONX Daily Target 2X Long IONQ ETF
      
      HIMZ Daily Target 2X Long HIMS ETF
      
      OKLL Daily Target 2X Long OKLO ETF
      
      IRE Daily Target 2X Long IREN ETF
      
      AVGX Daily Target 2X Long AVGO ETF
      
      RKLX Daily Target 2X Long RKLB ETF
      
      RGTX Daily Target 2X Long RGTI ETF
      
      SOFX Daily Target 2X Long SOFI ETF
      
      NVOX Daily Target 2X Long NVO ETF
      
      LLYX Daily Target 2X Long LLY ETF
      
      SOUX Daily Target 2X Long SOUN ETF
      
      QPUX 2X Daily Long Pure Quantum ETF
      
      HOOX Daily Target 2X Long HOOD ETF
      
      RIOX Daily Target 2X Long RIOT ETF
      
      QSU Daily Target 2X Long QS ETF
      
      MPL Daily Target 2X Long MP ETF
      
      OSCX Daily Target 2X Long OSCR ETF
      
      DKNX Daily Target 2X Long DKNG ETF
      
      ANEL Daily Target 2X Long ANET ETF
      
      VSTL Daily Target 2X Long VST ETF
      
      CVNX Daily Target 2X Long CVNA ETF
      
      LMNX Daily Target 2X Long LMND ETF
      
      AVXX Daily Target 2X Long AVAV ETF
      
      BU Daily Target 2X Long B ETF
      
      PLU Daily Target 2X Long PL ETF
      
      BTFL Daily Target 2X Long BITF ETF
      
      RKTL Daily Target 2X Long RKT ETF
      
      LUNL Daily Target 2X Long LUNR ETF
      
      LNOK Daily Target 2X Long NOK ETF
      
      RCAX Daily Target 2X Long RCAT ETF
      
      MRNX Daily Target 2X Long MRNA ETF
      
      ZETX Daily Target 2X Long ZETA ETF
      
      COPZ Daily Target 2X Long Copper ETF
      
      RGTZ Daily Target 2X Short RGTI ETF
      
      PLTZ Daily Target 2X Short PLTR ETF
      
      IONZ Daily Target 2X Short IONQ ETF
      
      SMST Daily Target 2X Short MSTR ETF
      
      QBTZ Daily Target 2X Short QBTS ETF
      
      SMCZ Daily Target 2X Short SMCI ETF
      
      BMNZ Daily Target 2X Short BMNR ETF
      
      HOOZ Daily Target 2X Short HOOD ETF
      
      DAMD Daily Target 2X Short AMD ETF
      
      RKLZ Daily Target 2X Short RKLB ETF
      
      STSM Daily Target 2X Short TSM ETF
      
      OKLS Daily Target 2X Short OKLO ETF
      
      ASTN Daily Target 2X Short ASTS ETF
      
      QTUM Quantum ETF
      
      SIXG Connective Technologies ETF
      
      AIPO AI and Power Infrastructure ETF
      
      XMAG Large Cap ex-Mag 7 ETF
      
      JEDI Drone & Modern Warfare ETF
      
      RKNG Retail Kings ETF
      
      YBMN BMNR Option Income ETF
      
      QQQY Nasdaq 100 Weekly Distribution ETF
      
      IWMY R2000 Weekly Distribution ETF
      
      SPYT S&P 500 Income Target ETF
      
      WDTE S&P 500 Weekly Distribution ETF
      
      USOY Oil Enhanced Options Income ETF
      
      QQQT Nasdaq 100 Income Target ETF
      
      GLDY Gold Enhanced Options Income ETF
      
      QLDY Nasdaq 100 LightningSpread™ Income ETF
      
      MST Leveraged Long + Income MSTR ETF
      
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Broadcom (AVGO), Oracle (ORCL), Supermicro (SMCI) and the Tech Mega-Trend

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Defiance Launches RCAX: The First 2X Long ETF for Red Cat Holdings, Inc.

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Jan 21, 2026

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Understanding Return of Capital (ROC) in ETFs

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Important Disclosures:

The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectuses contain this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 833.333.9383.

Investing involves risk. Principal loss is possible.

The Defiance ETFs are distributed by Foreside Fund Services, LLC.

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