Defiance Daily Target 2X Long WYFI ETF (WYFL)

The Defiance Daily Target 2X Long WYFI ETF is a single-stock leveraged exchange-traded fund from Defiance ETFs. Its objective is to deliver daily investment results, before fees and expenses, of approximately two times the daily percentage change in the share price of the company that trades under the ticker WYFI.

To build that exposure the fund relies mainly on derivatives such as swap agreements and, where available, options tied to the underlying stock, rather than simply holding the shares. Its exposure is reset each trading day so that it targets a 2x multiple of one day's move only.

Because the leverage applies to daily returns, the fund's performance over periods longer than a single day can differ substantially from twice the return of the underlying stock over the same span, particularly when the stock is volatile. The fund trades on Cboe BZX under the ticker WYFL.