Defiance Daily Target 2X Long UMAC ETF (UMAL)

The Defiance Daily Target 2X Long UMAC ETF is a leveraged single-stock fund from Defiance ETFs. It seeks daily investment results equal to two times the daily performance of the common stock of Unusual Machines, Inc. (UMAC), a company that makes drone components and first-person-view drone products.

The fund obtains its leveraged exposure mainly through swap agreements and other derivatives. The 2x target applies to a single trading day, and because exposure is reset daily, returns over longer periods can differ significantly from twice the stock's return.

The fund is designed for short-term traders seeking magnified bullish exposure to one company.