ORCX | Daily Target 2X Long ORCL ETF
$ORCX

ORCX

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Defiance Daily Target 2X Long ORCL ETF

Name(Required)
Distribution Rate *
-%
Payable As of
Distribution Frequency
Monthly
30-Day SEC Yield **
As of —
-%
rating

ORCX, Daily Target 2X Long ORCL ETF

The Defiance Daily Target 2X Long ORCL ETF (the “Fund”) seeks daily leveraged investment results of two times (200%) the daily percentage change in the share price of Oracle Corporation (NYSE: ORCL) (the “Underlying Security” or “ORCL”). Because the Fund seeks daily leveraged investment results, it is very different from most other exchange-traded funds. It is also riskier than alternatives that do not use leverage. There is no guarantee that the Fund will meet its stated objective. The fund should not be expected to provide 2 times the cumulative return of ORCL for periods greater than a day.

Underlying Security: Oracle Corporation (NYSE: ORCL)

Oracle Corporation offers a collection of cloud technologies, applications, databases, storage and servers to empower modern business. ORCL is listed on the New York Stock Exchange (“NYSE”). Per ORCL’s most recent Form 10-K filing, the aggregate market value of the voting stock held by non-affiliates of ORCL was $186.2 billion based on the number of shares held by non-affiliates of ORCL as of May 31, 2024, and based on the closing sale price of common stock as reported by the NYSE on November 30, 2023, which is the last business day of ORCL’s most recently completed second fiscal quarter.

The Fund may not achieve investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the underlying security, and may return substantially less during such periods. During such periods, the Fund’s actual leverage levels may differ substantially from its intended target, both intraday and at the close of trading, potentially resulting in significantly lower returns.

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. 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.

ORCXMarket Price

Performance

YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) -30.29% -30.29% -64.29% -67.60% -39.94%
Market Price (%) -30.30% -30.30% -64.32% -67.64% -39.95%
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% -10.66% -56.72% -38.44% -13.84%
Market Price (%) xx.xx% -10.54% -56.68% -38.49% -13.85%
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% -42.66% -32.72% 15.96% -3.56%
Market Price (%) xx.xx% -42.78% -32.68% 15.61% -3.70%
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% -15.51% -9.26% 174.56% 68.20%
Market Price (%) xx.xx% -15.36% -9.30% 173.21% 68.30%
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% 38.87% 42.23% 217.48% 99.06%
Market Price (%) xx.xx% 39.01% 41.98% 216.64% 98.85%
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% -22.67% 72.36% 57.10% 43.35%
Market Price (%) xx.xx% -22.91% 71.72% 56.50% 43.05%
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%
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling 833.333.9383. Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Market price is the price at which shares in the ETF can be brought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.

Fund Details

 Data as of 02/17/2026
Net Assets $209.19M
Premium/discount 0.05%
NAV $10.20
Closing Price $10.21
Shares Outstanding 20,500,000
Median 30 Day Spread 0.09%
Fund inception 02/06/2025
Ticker ORCX
Primary Exchange NASDAQ
CUSIP 88636R511
Fund Holdings 11
NAV Symbol ORCX.NV
Expense Ratio 1.29%
30 Day SEC Yield* -0.13%
* Yield as of 01-31-2026


Top Holdings

View full holdings
Name Symbol Stock price % Net assets Shares Held Market Value
Oracle Corp Swap Ms-l 68389X105-TRS-01/23/29-L-ORCX $156.17 38.44% 530,500 $82,848,185
Oracle Corp Swap Bmo 68389X105-TRS-09/30/26-L-ORCX $156.17 28.99% 400,000 $62,468,000
United States Treasury Bill 02/19/2026 912797PM3 $100.00 28.27% 60,921,000 $60,921,000
Oracle Corp Swap Cf-l 68389X105-TRS-09/08/28-L-ORCX $156.17 28.19% 388,939 $60,740,604
Oracle Corp Swap Cs 68389X105-TRS-01/04/28-L-ORCX $156.17 27.92% 385,297 $60,171,832
Orcl Nomura 68389X105-TRS-07/30/26-L $156.17 27.10% 374,000 $58,407,580
Oracle Corp Swap Marex-l 68389X105-TRS-02/05/29-L-ORCX $156.17 26.98% 372,309 $58,143,497
Oracle Corp Swap Nbc-l 68389X105-TRS-02/01/27-L-ORCX $156.17 22.32% 308,000 $48,100,360
United States Treasury Bill 03/19/2026 912797PV3 $99.72 16.42% 35,490,000 $35,390,145
First American Government Obligations Fund 12/01/2031 FGXXX $100.00 0.58% 1,255,672 $1,255,672
Data as of 02/19/2026. Fund holdings are subject to change at any time and should not be considered recommendations to buy or sell any security.
View full holdings
Download Fund Documents
Prospectus
SAI
Summary Prospectus
Daily Leveraged Tracking Data
2025 Distribution Schedule
Premium Discount Graph
Annual 4-30-25 Financial Statement
Annual 4-30-25 TSR
Q1 Holdings 07-31-2025
10-31-25 Semi-Annual TSR
Semi-Annual 10-31-25 Financial Statements

Distributions

2026 Distribution Schedule
entries per page
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 —		 -%