Defiance Daily Target 2X Short AMD ETF (DAMD)

The Defiance Daily Target 2X Short AMD ETF seeks daily investment results, before fees and expenses, of two times the inverse (-200%) of the daily performance of the common stock of Advanced Micro Devices, Inc. (AMD). It is designed to gain on days when AMD shares fall and to lose roughly twice as much when they rise.

AMD, headquartered in Santa Clara, California, designs CPUs, GPUs, AI accelerators and adaptive chips used in data centers, personal computers, gaming consoles and embedded systems. The fund obtains its short exposure mainly through swap agreements and holds cash and short-term instruments as collateral.

The fund is sponsored by Defiance ETFs. Because the target applies to a single day and resets daily, its performance over longer periods can differ substantially from -2x the stock's return.