IRE
Defiance Daily Target 2X Long IREN ETF
Distribution Rate *
Distribution Frequency
30-Day SEC Yield **
Daily Target 2X Long IREN (IREN Limited) ETF
Overview
The Defiance Daily Target 2X Long IREN ETF (Ticker: IRE) provides investors with magnified long exposure to IREN Limited (NASDAQ: IREN), a global data center operator and Bitcoin mining company focused on energy-efficient infrastructure. IRE seeks to deliver 200% of the daily performance of IREN’s stock, giving active traders a tactical vehicle to pursue enhanced short-term upside exposure to IREN’s share price, within the accessibility and transparency of an ETF.
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 IREN Limited (NASDAQ: IREN). The Fund does not seek to achieve its stated investment objective for any period other than a single trading day.
Underlying Stock: IREN Limited
IREN Limited operates as a data center infrastructure and Bitcoin mining company. It focuses on the development and operation of energy-efficient data centers powered by renewable energy. The company designs and builds high-performance infrastructure that supports digital asset mining and related compute-intensive applications.
An investment in the ETF is not a direct investment in IREN Limited.
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 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 IREN over the same period. It is possible investors could lose their entire principal within a single trading day.
IREMarket Price
Performance
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | 77.77% | 77.77% | -47.64% | xx.xx% | -47.23% |
| Market Price (%) | 77.61% | 77.61% | -47.54% | xx.xx% | -47.25% |
| 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% | -45.33% | xx.xx% | xx.xx% | -70.31% |
| Market Price (%) | xx.xx% | -45.40% | xx.xx% | xx.xx% | -70.30% |
| 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% | -46.12% | xx.xx% | xx.xx% | -45.70% |
| Market Price (%) | xx.xx% | -45.90% | xx.xx% | xx.xx% | -45.60% |
| 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% | 0.78% |
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | 0.55% |
| 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 |
|---|---|---|---|---|---|
| Iren Ltd Swap Cs-l | Q4982L109-TRS-11/23/27-L-IRE | $42.08 | 68.42% | 4,746,087 | $199,715,341 |
| Iren Ltd Swap Cantor-l | Q4982L109-TRS-11/01/28-L-IRE | $42.08 | 56.69% | 3,932,283 | $165,470,469 |
| Iren Ltd Swap Mar-l | Q4982L109-TRS-10/21/28-L-IRE | $42.08 | 45.85% | 3,180,695 | $133,843,646 |
| Iren Limited Swap Nbc-l | Q4982L109-TRS-02/25/27-L-IRE | $42.08 | 25.23% | 1,750,000 | $73,640,000 |
| United States Treasury Bill 03/19/2026 | 912797PV3 | $99.72 | 7.58% | 22,180,000 | $22,117,594 |
| United States Treasury Bill 02/19/2026 | 912797PM3 | $100.00 | 5.36% | 15,650,000 | $15,650,000 |
| Iren Limited Swap Nm | Q4982L109-TRS-10/30/28-L-IRE | $42.08 | 3.75% | 260,000 | $10,940,800 |
| First American Government Obligations Fund 12/01/2031 | FGXXX | $100.00 | 2.92% | 8,516,002 | $8,516,002 |
| Cash & Other | Cash&Other | $1.00 | -115.89% | -338,298,145 | $-338,298,145 |
Distributions
Declaration Date |
Ex-Div Date |
Record Date |
Payable Date |
Amount ($) |
|---|---|---|---|---|
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 — |
-% |
