Defiance Daily Target 2X Long PURR ETF (PUR)

The Defiance Daily Target 2X Long PURR ETF is a leveraged single-stock fund from Defiance ETFs, listed on the Nasdaq under the ticker PUR. Its underlying security is the stock that trades under the ticker PURR, a company whose business is tied to the Hyperliquid crypto ecosystem.

The fund seeks daily investment results, before fees and expenses, of two times the daily percentage change in the underlying stock's price. It gets this exposure mainly through swaps and other derivatives.

Because leverage is reset every day, the fund is designed for daily returns only. Over multi-day periods, compounding can cause its returns to differ significantly from twice the return of the underlying stock.