Defiance Daily Target 2X Long AMAT ETF (AMA)

The Defiance Daily Target 2X Long AMAT ETF (AMA) is a leveraged single-stock exchange-traded fund sponsored by Defiance ETFs. It seeks daily investment results, before fees and expenses, equal to two times (200%) the daily percentage change in the share price of Applied Materials, the Santa Clara, California-based supplier of equipment used to manufacture semiconductors and displays.

The fund obtains its leveraged exposure mainly through derivatives such as swap agreements and options. Because the 2x objective resets each trading day, the fund targets daily returns only, and its performance over longer periods can differ significantly from twice the return of Applied Materials stock, especially in volatile markets.

The fund is designed for short-term trading. Its shares are listed on Nasdaq.