URAX, LLYX, MSTX, SMST, SMCX, and AVGX are 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 (1.75X and 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.

In interviews listed above, Sylva Jablonski candidly discusses her opinions on the market and different stocks and sectors that may have, at the time of the interview, been held in one or more of Defiance’s ETF’s. These opinions are current as of the date of each interview but are subject to change. The information provided in each interview does not provide information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular security. These materials should not be considered an offer for any of the securities referenced. The information contained in the interviews it not guaranteed as to its accuracy or completeness. Portfolio holdings are subject to change. See the products section of our website for current product holdings.