Defiance Daily Target 2X Long OSS ETF

Overview

The Defiance Daily Target 2X Long OSS ETF (OSSL) provides investors with amplified long exposure to One Stop Systems, Inc. (Nasdaq: OSS), a designer and manufacturer of specialized, high-performance computing (HPC) and data storage systems purpose-built for artificial intelligence (AI) and machine learning (ML) applications across the defense, aerospace, automotive, industrial, and commercial sectors. OSS specializes in custom solutions for platforms that move — including planes, unmanned aerial vehicles, trucks, ships, submarines, and mobile data centers or command posts — where sensor processing, sensor fusion, AI, and ML are integrated at the edge.

OSSL seeks to deliver 200% of the daily performance of OSS’s stock, offering active traders a tactical way to express short-term bullish views on the growth of edge AI computing in defense and aerospace, expanding adoption of HPC in autonomous and unmanned systems, the convergence of AI/ML and military-grade data processing, and OSS’s position as a specialized provider of ruggedized, mission-critical technology platforms — 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 One Stop Systems, Inc. (Nasdaq: OSS). The Fund does not seek to achieve its stated investment objective for a period other than a single trading day.

Underlying stock: One Stop Systems, Inc.

One Stop Systems, Inc. designs and manufactures specialized, high-performance computing (HPC) and data storage systems, focusing on artificial intelligence (AI) and machine learning (ML) applications utilized by the defense, aerospace, automotive, industrial equipment, and other commercial sectors. The company provides custom solutions specially focused on platforms that move, such as planes, unmanned aerial vehicles, trucks, ships, submarines, and mobile data centers or command posts where sensor processing, sensor fusion, AI, and ML are integrated into the applications.

OSS is listed on the Nasdaq Capital Market and is classified within the Technology Hardware, Storage & Peripherals industry. Per OSS’s most recent 10-K filing, the aggregate market value of the voting and non-voting common equity held by its non-affiliates as of June 30, 2025, was approximately $75.25 million.

An investment in the ETF is not a direct investment in One Stop Systems, 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 One Stop Systems, Inc. (Nasdaq: OSS) (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 OSS over the same period. It is possible that investors could lose their entire principal within a single trading day.