Defiance Daily Target 2X Long NOK ETF (LNOK)

Defiance Daily Target 2X Long NOK ETF is a leveraged single-stock fund sponsored by Defiance ETFs. It seeks to deliver twice (200%) the daily percentage change of Nokia Corporation's U.S.-listed shares, which trade under the ticker NOK. Nokia is the Finnish telecommunications company headquartered in Espoo that supplies mobile network, fixed network, optical and IP networking equipment along with related software and technology licensing.

The fund gains its leveraged exposure mainly through swap agreements and other derivatives, backed by cash and Treasury collateral, and resets that exposure at the close of each trading day.

Because the 2X target is measured daily, returns over weeks or months compound and can differ substantially from twice Nokia's return over the same period. The fund is designed for short-term trading rather than buy-and-hold use.