Defiance Daily Target 2X Long LUNR ETF (LUNL)

Defiance Daily Target 2X Long LUNR ETF is a leveraged single-stock fund sponsored by Defiance ETFs. It seeks to deliver twice (200%) the daily percentage change in the share price of Intuitive Machines, Inc. (LUNR), the Houston-based space company that builds lunar landers, provides lunar data and communications services and supports NASA missions to the Moon.

The fund obtains leveraged exposure mainly through swap agreements and other derivatives, backed by cash and Treasury collateral, and resets that exposure every trading day.

Because the objective applies to single days, compounding causes results over longer periods to differ, sometimes substantially, from twice the cumulative return of Intuitive Machines stock, which itself can be highly volatile. The fund is intended for short-term trading.