Defiance Daily Target 2X Long IREN ETF (IRE)

The Defiance Daily Target 2X Long IREN ETF is a single-stock leveraged fund from Defiance ETFs. It seeks daily investment results equal to two times (200%) the daily percentage change in the share price of IREN Limited, the Australian-founded company that operates large data centers used for bitcoin mining and for AI cloud computing.

The fund generally uses swap agreements and other derivatives to obtain its leveraged exposure. Its leverage resets daily, so the objective applies only to single-day returns, and over longer periods compounding can cause performance to differ significantly from twice IREN's return. The fund is intended for short-term trading.