Defiance Daily Target 2X Long MRNA ETF (MRNX)

Defiance Daily Target 2X Long MRNA ETF is a single-stock leveraged fund from Defiance ETFs. It seeks daily investment results equal to two times (2x) the daily percentage change in shares of Moderna, the biotechnology company known for its messenger RNA vaccines and therapeutics.

The fund typically uses swaps and options to obtain its exposure. Because the 2x target is reset each day, performance over periods longer than a day can vary considerably from twice Moderna's cumulative return. Shares trade on NYSE Arca.