Defiance Daily Target 2X Long SOFI ETF (SOFX)

Defiance Daily Target 2X Long SOFI ETF (SOFX) seeks daily investment results, before fees and expenses, equal to two times the daily performance of the common stock of SoFi Technologies, Inc. It is a single-stock leveraged fund sponsored by Defiance ETFs, and its objective resets every trading day.

The fund obtains its exposure mainly through swap agreements and other derivatives on the underlying shares rather than simply holding the stock, keeping the remaining assets in cash and short-term instruments as collateral. Because the multiple applies to each day separately, results over periods longer than one day can differ meaningfully from two times the stock's return over the same period.

The underlying company: SoFi Technologies operates a digital personal finance platform offering lending, banking, investing and related services, along with technology platforms used by other financial firms.