QSU
Defiance Daily Target 2X Long QS ETF
Distribution Rate *
Distribution Frequency
30-Day SEC Yield **
Daily Target 2X Long QS (QuantumScape) ETF
Overview
The Defiance Daily Target 2X Long QS ETF (QSU) provides investors with amplified long exposure to QuantumScape Corporation (NYSE: QS), a pioneer in next-generation solid-state lithium-metal battery technology. QS seeks to deliver 200% of the daily performance of QuantumScape’s stock, giving active traders a tactical vehicle to pursue enhanced upside exposure to electric vehicle and clean energy innovation—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 QuantumScape Corporation (NYSE: QS). The Fund does not seek to accomplish its stated objective over periods other than a single trading day.
Underlying Stock: QuantumScape Corporation
QuantumScape Corporation is developing solid-state lithium-metal batteries designed to significantly improve energy density, charging speed, and safety compared to conventional lithium-ion batteries. The company aims to revolutionize energy storage and enable broader adoption of electric vehicles by overcoming key limitations in current battery technology. QuantumScape’s partnerships with major automakers and its focus on scalable manufacturing position it at the forefront of the electric vehicle battery innovation race.
An investment in the ETF is not a direct investment in QuantumScape Corporation.
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 QS over the same period. It is possible investors could lose their entire principal within a single trading day.
QSUMarket Price
Performance
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | -32.29% | -32.29% | -81.59% | xx.xx% | -77.74% |
| Market Price (%) | -32.47% | -32.47% | -81.62% | xx.xx% | -77.85% |
| 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 | |
|---|---|---|---|---|---|
| Market Price (%) | xx.xx% | -32.44% | xx.xx% | xx.xx% | -67.20% |
| Total Return NAV (%) | xx.xx% | -31.63% | xx.xx% | xx.xx% | -67.13% |
| 1 Year | 3 Years | 5 Years | Since Inception | |
|---|---|---|---|---|
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% |
| Total Return (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% |
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Market Price (%) | xx.xx% | -59.71% | xx.xx% | xx.xx% | -51.45% |
| Total Return NAV (%) | xx.xx% | -60.22% | xx.xx% | xx.xx% | -51.92% |
| 1 Year | 3 Years | 5 Years | Since Inception | |
|---|---|---|---|---|
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% |
| Total Return (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% |
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | 20.50% |
| Total Return NAV (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | 20.86% |
| 1 Year | 3 Years | 5 Years | Since Inception | |
|---|---|---|---|---|
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% |
| Total Return (%) | 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 |
|---|---|---|---|---|---|
| Quantumscape Corp Swap Cs | 74767V109-TRS-01/04/28-L-QSU | $7.15 | 67.08% | 1,082,962 | $7,743,178 |
| Quantumscap Swap Mar-l | 74767V109-TRS-10/21/28-L-QSU | $7.15 | 61.72% | 996,507 | $7,125,025 |
| Quantumscape Inc Swap Cantor | 74767V109-TRS-11/01/28-L-QSU | $7.15 | 57.83% | 933,667 | $6,675,719 |
| United States Treasury Bill 02/19/2026 | 912797PM3 | $100.00 | 14.81% | 1,710,000 | $1,710,000 |
| Quantumscape Corp Swap Nm | 74767V109-TRS-10/30/28-L-QSU | $7.15 | 13.32% | 215,000 | $1,537,250 |
| United States Treasury Bill 03/19/2026 | 912797PV3 | $99.72 | 9.93% | 1,150,000 | $1,146,764 |
| First American Government Obligations Fund 12/01/2031 | FGXXX | $100.00 | 2.31% | 266,142 | $266,142 |
| Cash & Other | Cash&Other | $1.00 | -127.11% | -14,673,169 | $-14,673,169 |
Distributions
Declaration Date |
Ex-Div Date |
Record Date |
Payable Date |
Amount ($) |
|---|---|---|---|---|
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 — |
-% |
