QPUX | Defiance 2X Daily Long Pure Quantum ETF
$QPUX

QPUX

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Defiance 2X Daily Long Pure Quantum ETF

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

Defiance 2X Daily Long Pure Quantum ETF (QPUX)

Overview

The Defiance 2X Daily Long Pure Quantum ETF (QPUX) provides investors with amplified daily exposure to a select, actively-managed basket of pure quantum computing companies—currently including IONQ, RGTI, QBTS, and QUBT. The fund seeks to deliver 200% of the daily performance of this equal-weighted Target Portfolio, offering investors a leveraged way to gain access to innovation in quantum computing and machine learning—without the need for a margin account.

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 Target Portfolio’s performance is flat, and it is possible that the Fund will lose money even if the Target Portfolio’s market value 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.

An investment in QPUX is not an investment in IONQ, RGTI, QBTS, or QUBT

Investment Objective

The Fund seeks daily investment results, before fees and expenses, that correspond to two times (2X) the performance of an actively-managed group of “pure quantum” company securities for a single day (the “Target Portfolio”). The Fund does not seek to achieve its stated investment objective for any period other than a single trading day.

Target Portfolio

The Target Portfolio consists of generally five to ten companies that derive significant revenue from quantum computing or related technologies. Each trading day, the Target Portfolio is rebalanced to ensure equal weighting, and is reaffirmed or adjusted at least quarterly. As of the most recent rebalance, the Target Portfolio includes:

  • IONQ, Inc. (IONQ) – Trapped-ion quantum hardware & cloud software
  • Rigetti Computing, Inc. (RGTI) – Hybrid quantum-classical systems
  • D-Wave Quantum Inc. (QBTS) – Quantum annealing-based computing
  • Quantum Computing Inc. (QUBT) – Quantum software and AI integration

QPUXMarket Price

Performance

YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) -30.80% -30.80% -77.67% xx.xx% -44.75%
Market Price (%) -30.95% -30.95% -77.60% xx.xx% -44.55%
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%
YTD 1 Month 3 Months 6 Months Since Inception
Total Return NAV (%) xx.xx% -19.17% -58.60% xx.xx% -20.16%
Market Price (%) xx.xx% -19.17% -58.18% xx.xx% -19.70%
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% -60.07% 6.68% xx.xx% -1.22%
Market Price (%) xx.xx% -59.86% 7.32% xx.xx% -0.65%
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% 28.28% xx.xx% xx.xx% 147.37%
Market Price (%) xx.xx% 28.91% xx.xx% xx.xx% 147.50%
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% 108.28% xx.xx% xx.xx% 92.84%
Market Price (%) xx.xx% 107.40% xx.xx% xx.xx% 92.00%
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% -7.41%
Market Price (%) xx.xx% xx.xx% xx.xx% xx.xx% -7.42%
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 $20.07M
Premium/discount 0.65%
NAV $7.50
Closing Price $7.55
Shares Outstanding 2,675,000
Median 30 Day Spread 0.76%
Fund inception 08/06/2025
Ticker QPUX
Primary Exchange NASDAQ
CUSIP 88636V405
Fund Holdings 12
NAV Symbol QPUX.NV
Expense Ratio 1.29%
30 Day SEC Yield* -1.67%
* Yield as of 01-31-2026


Top Holdings

View full holdings
Name Symbol Stock price % Net assets Shares Held Market Value
D-wave Quantum Swap Cs-l 26740W109-TRS-03/14/28-L-QPUX $19.07 40.96% 464,387 $8,855,860
Quantum Computing Inc Swap L-cs 74766W108-TRS-11/23/27-L-QPUX $8.21 36.78% 968,543 $7,951,738
Rigetti Computing Swap Cs-l 76655K103-TRS-03/14/28-L-QPUX $16.18 35.30% 471,708 $7,632,235
Ionq Inc Swap L-cs 46222L108-TRS-11/23/27-L-QPUX $33.34 31.93% 207,077 $6,903,947
Ionq Inc Swap Marex 46222L108-TRS-09/08/26-L $33.34 17.50% 113,514 $3,784,557
Rigetti Computing Inc Swap Marex 76655K103-TRS-09/08/26-L $16.18 14.70% 196,432 $3,178,270
Quantum Computing Inc Swap Marex 74766W108-TRS-09/08/26-L $8.21 13.05% 343,626 $2,821,169
D-wave Quantum Inc Swap Marex 26740W109-TRS-09/08/26-L $19.07 8.99% 101,980 $1,944,759
United States Treasury Bill 03/19/2026 912797PV3 $99.72 6.13% 1,330,000 $1,326,258
United States Treasury Bill 02/19/2026 912797PM3 $100.00 5.60% 1,210,000 $1,210,000
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
Summary Prospectus
SAI
Premium Discount Graph
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 —		 -%