LMNX
Daily Target 2X Long LMND ETF
Distribution Rate *
Distribution Frequency
30-Day SEC Yield **
Daily Target 2X Long LMND (Lemonade) ETF
Overview
The Defiance Daily Target 2X Long LMND ETF (LMNX) provides investors with amplified long exposure to Lemonade, Inc. (NYSE: LMND), a leading innovator in the digital insurance industry. LMNX seeks to deliver 200% of the daily performance of Lemonade’s stock, giving active traders a tactical vehicle to pursue enhanced upside exposure without the need for a margin account.
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 Lemonade, Inc. (NYSE: LMND). The Fund does not seek to achieve its stated investment objective for a period other than a single trading day.
Underlying Stock: Lemonade, Inc.
Lemonade, Inc. is a fully digital insurance company offering renters, homeowners, car, pet, and life insurance through its own licensed carriers in the U.S. and Europe. Using proprietary artificial intelligence, automation, and a transparent fixed-fee model, Lemonade has reimagined the traditional insurance experience—streamlining policy issuance, claims handling, and customer service. The company leverages reinsurance partnerships to manage underwriting risk and reduce earnings volatility while pursuing long-term growth in insurtech innovation.
An investment in LMNX is not an investment in Lemonade, Inc.
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 LMND over the same period. It is possible investors could lose their entire principal within a single trading day.
LMNXMarket Price
Performance
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | 39.14% | 39.14% | 64.70% | xx.xx% | 106.48% |
| Market Price (%) | 38.67% | 38.67% | 64.22% | xx.xx% | 106.06% |
| 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% | -21.12% | xx.xx% | xx.xx% | 48.40% |
| Market Price (%) | xx.xx% | -20.88% | xx.xx% | xx.xx% | 48.59% |
| 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% | 50.06% | xx.xx% | xx.xx% | 88.13% |
| Market Price (%) | xx.xx% | 49.68% | xx.xx% | xx.xx% | 87.82% |
| 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% | 25.37% |
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | 25.48% |
| 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 |
|---|---|---|---|---|---|
| Lemonade Inc Swap Cantor | 52567D107-TRS-09/08/28-L-LMN | $65.73 | 58.22% | 43,549 | $2,862,476 |
| Lemonade Inc Swap Nomura-l | 52567D107-TRS-12/11/28-L-LMNX | $65.73 | 49.46% | 37,000 | $2,432,010 |
| Lemonade Inc Swap Cs | 52567D107-TRS-010428-L-LMN | $65.73 | 48.30% | 36,129 | $2,374,759 |
| Lemonade Inc Swap Marex | 52567D107-TRS-10/22/28-L-LMNX | $65.73 | 43.96% | 32,886 | $2,161,597 |
| United States Treasury Bill 03/19/2026 | 912797PV3 | $99.72 | 8.52% | 420,000 | $418,818 |
| First American Government Obligations Fund 12/01/2031 | FGXXX | $100.00 | 8.39% | 412,412 | $412,412 |
| United States Treasury Bill 02/19/2026 | 912797PM3 | $100.00 | 7.53% | 370,000 | $370,000 |
| Cash & Other | Cash&Other | $1.00 | -124.43% | -6,118,240 | $-6,118,240 |
Distributions
Declaration Date |
Ex-Div Date |
Record Date |
Payable Date |
Amount ($) |
|---|---|---|---|---|
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 — |
-% |
