RCAX
Defiance Daily Target 2X Long RCAT ETF
Distribution Rate *
Distribution Frequency
30-Day SEC Yield **
Daily Target 2X Long RCAT (Red Cat Holdings, Inc.) ETF
Overview
The Defiance Daily Target 2X Long RCAT ETF (RCAX) provides investors with amplified long exposure to Red Cat Holdings, Inc. (NASDAQ: RCAT), a technology company focused on unmanned aerial systems (UAS) and advanced drone solutions for military, government, and commercial applications. RCAX seeks to deliver 200% of the daily performance of Red Cat Holdings’ stock, offering active traders a tactical way to express bullish views on drone technology, defense innovation, and autonomous systems—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 Red Cat Holdings, Inc. (NASDAQ: RCAT). The Fund does not seek to achieve its stated investment objective for a period other than a single trading day.
Underlying Stock: Red Cat Holdings, Inc.
Red Cat Holdings, Inc. is a technology company specializing in the development, integration, and deployment of unmanned aerial systems and related software platforms. The company provides drone solutions designed for intelligence, surveillance, reconnaissance, and operational support across defense, government, and commercial markets. Red Cat’s performance may be influenced by defense spending trends, government procurement cycles, adoption of drone technologies, competitive dynamics, regulatory developments, and broader market conditions impacting aerospace and defense technology companies.
An investment in the Fund is not an investment in Red Cat Holdings, 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 Red Cat Holdings, Inc. (RCAT) over the same period. It is possible investors could lose their entire principal within a single trading day.
RCAXMarket Price
Performance
| YTD | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | Since Inception | |
|---|---|---|---|---|---|---|---|
| Total Return (NAV) (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% |
| Market Price (%) | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% | xx.xx% |
| 1 Year | Since Inception | |
|---|---|---|
| Total Return (NAV) (%) | xx.xx% | xx.xx% |
| Market Price (%) | xx.xx% | xx.xx% |
| — | |
|---|---|
| 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 |
|---|---|---|---|---|---|
| Red Cat Hldgs Swap Cf-l | 75644T100-TRS-09/08/28-L-RCAX | $12.08 | 69.90% | 84,057 | $1,015,409 |
| Red Cat Hldgs Swap Cs-l | 75644T100-TRS-02/22/28-L-RCAX | $12.08 | 66.02% | 79,398 | $959,128 |
| Red Cat Hldgs Swap Marex-l | 75644T100-TRS-02/03/29-L-RCAX | $12.08 | 64.03% | 77,000 | $930,160 |
| United States Treasury Bill 03/19/2026 | 912797PV3 | $99.72 | 6.86% | 100,000 | $99,719 |
| First American Government Obligations Fund 12/01/2031 | FGXXX | $100.00 | 5.31% | 77,121 | $77,121 |
| Cash & Other | Cash&Other | $1.00 | -112.19% | -1,629,753 | $-1,629,753 |
| Download Fund Documents |
|---|
Distributions
Declaration Date |
Ex-Div Date |
Record Date |
Payable Date |
Amount ($) |
|---|---|---|---|---|
12/29/2026 |
12/30/2026 |
12/30/2026 |
12/31/2026 |
$– |
| Declaration Date | Ex-Div Date | Record Date | Payable Date | Amount ($) | |
|---|---|---|---|---|---|
| No records found | |||||
| Distribution Rate *
Payable As of |
-% |
| Distribution Frequency | Monthly |
| 30-Day SEC Yield ** As of — |
-% |
