Defiance Daily Target 2x Short IONQ ETF (IONZ)

The Defiance Daily Target 2x Short IONQ ETF is a single-stock inverse leveraged fund from Defiance ETFs. It seeks daily investment results equal to two times the inverse (-200%) of the daily percentage change in the share price of IonQ, Inc., the quantum computing company. The fund is designed to rise when IonQ stock falls on a given day and to fall when it rises.

It typically uses swap agreements and other derivatives to create this short exposure. The objective applies to single-day returns only, and the leverage resets daily, so over longer holding periods compounding can cause performance to differ sharply from twice the inverse of IonQ's return. The fund is intended for short-term trading.