SPCL
Leveraged Long
Defiance Daily 2X Space ETF
SPCL, the World’s First 2X Leveraged Pure Space ETF
Overview
The Defiance Daily 2X Space ETF (SPCL) provides investors with amplified long exposure to the global space economy, a rapidly evolving ecosystem spanning satellite infrastructure, launch systems, space-enabled data, and next-generation orbital technologies.
SPCL is designed for traders seeking magnified, short-term bullish exposure to a concentrated portfolio of companies directly engaged in space-related technologies and services. By targeting 200% of the daily performance of an actively managed portfolio of “pure space” companies, the Fund enables investors to express tactical upside views on the commercialization and expansion of the space economy – all within the accessibility and transparency of an exchange-traded fund.
Investment Objective
The Fund seeks daily investment results, before fees and expenses, that correspond to two times (2X) the performance of an actively-managed portfolio of one or more space securities for a single day (the portfolio of equity securities is referred to as the ‘Target Portfolio’).
Underlying Strategy
The Fund is designed to provide leveraged exposure to companies that derive a significant portion of their revenue or operations from the space economy, including:
- Spacecraft, launch vehicle, and satellite manufacturing
- Satellite communications and space-based infrastructure
- In-orbit services, logistics, and space platforms
- Space-enabled data, analytics, and applications
- Enabling components and materials for space systems
An investment in SPCL is not a direct investment in the underlying securities.
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 Target Portfolio 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 the Target Portfolio over the same period. It is possible that investors could lose their entire principal within a single trading day.
SPCLMarket Price
Performance
| YTD | 1 Month | 3 Months | 6 Months | Since Inception | |
|---|---|---|---|---|---|
| Total Return NAV (%) | xx.xx% | -4.85% | -53.64% | xx.xx% | -14.24% |
| Market Price (%) | xx.xx% | -4.63% | -53.77% | xx.xx% | -14.36% |
| 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 | 1 Year | 3 Years | Since Inception | |
|---|---|---|---|---|---|---|---|
| Total Return (NAV) (%) | — | — | — | — | — | — | — |
| Market Price (%) | — | — | — | — | — | — | — |
| 1 Year | Since Inception | |
|---|---|---|
| Total Return (NAV) (%) | — | — |
| Market Price (%) | — | — |
Fund Details
Top Holdings
| Name | Symbol | Stock Price | % Net Assets | Shares Held | Market Value |
|---|---|---|---|---|---|
| Rocket Lab Corporation-swap-mrex-l | 773121108-TRS-07/17/29-L-SPCL | $73.92 | 26.91 | 49,083 | $3,628,215 |
| Ast Spacemobile, Inc.-swap-mrex-l | 00217D100-TRS-07/21/29-L-SPCL | $58.45 | 26.63 | 61,408 | $3,589,298 |
| Planet Labs Pbc-swap-mrex-l | 72703X106-TRS-07/28/33-L-SPCL | $17.50 | 24.89 | 191,730 | $3,355,275 |
| United States Treasury Bill 11/19/2026 | 912797UZ8 | $99.51 | 23.62 | 3,200,000 | $3,184,385 |
| Planet Labs Pbc-swap-cant-l | 72703X106-TRS-10/05/27-L-SPCL | $17.50 | 22.17 | 170,796 | $2,988,930 |
| Rocket Lab Corporation-swap-cant-l | 773121108-TRS-05/10/27-L-SPCL | $73.92 | 19.78 | 36,069 | $2,666,220 |
| Ast Spacemobile, Inc.-swap-cant-l | 00217D100-TRS-05/10/27-L-SPCL | $58.45 | 17.50 | 40,369 | $2,359,568 |
| Space Exploration Technologies Corp.-swap-nmra-l | 84615Q103-TRS-03/31/33-L-SPCL | $158.96 | 10.61 | 9,000 | $1,430,640 |
| Space Exploration Technologies Corp.-swap-mrex-l | 84615Q103-TRS-06/16/33-L-SPCL | $158.96 | 10.25 | 8,695 | $1,382,157 |
| Space Exploration Technologies Corp.-swap-cant-l | 84615Q103-TRS-05/10/27-L-SPCL | $158.96 | 9.93 | 8,421 | $1,338,602 |
Distributions
Declaration Date |
Ex-Div Date |
Record Date |
Payable Date |
Amount ($) |
|---|---|---|---|---|
12/29/2026 |
12/30/2026 |
12/30/2026 |
12/31/2026 |
$– |