Defiance Daily Target 2X Short BMNR ETF (BMNZ)

The Defiance Daily Target 2X Short BMNR ETF (BMNZ) seeks daily investment results equal to negative two times (-2x) the daily percentage change in the share price of BitMine Immersion Technologies (ticker BMNR), a company that holds a treasury of Ether and has operated in bitcoin mining. The fund rises in value on days when the stock falls and declines when it rises.

The inverse leveraged objective applies to a single day only. Because the exposure resets daily, returns over longer periods can differ significantly from -2x the stock's return. The fund uses swaps and similar derivatives, is sponsored by Defiance ETFs, and trades on NYSE Arca.