Key stats
About Defiance Daily Target 2x Short QBTS ETF
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Inception date
Oct 6, 2025
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
ISIN
US88636V6450
QBTZ uses swap agreements to make bearish bets on D-Wave Quantum Inc.'s (NYSE: QBTS) share price. QBTS is known for developing quantum annealing computers that tackle complex optimization and machine learning problems. It offers on-demand access to these systems through its Leap cloud platform, enabling users to build and run quantum applications. The fund maintains a daily leveraged exposure equivalent to -200% of the fund's net assets through daily rebalancing. As a geared product, the fund is intended as a short-term tactical tool, rather than as a long-term investment vehicle. As a result, returns may deviate from the expected -2x if held for longer than a single day due to compounding. This strategy is high-risk and does not include a defensive position as part of its overall process. Additionally, the fund could potentially lose money over time, even if QBTS' performance strengthens. The fund is expected to invest in cash-like instruments as collateral.
Related funds
Classification
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash97.05%
Mutual fund2.95%
Top 10 holdings
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
QBTZ assets under management is 25.58 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
QBTZ invests in cash. See more details in our Analysis section.
QBTZ expense ratio is 1.29%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
QBTZ is an inverse fund, meaning it's structured to generate returns opposite to the trends of the underlying index or assets.
No, QBTZ doesn't pay dividends to its holders.
QBTZ shares are issued by Toroso Investments Topco LLC
QBTZ follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Oct 6, 2025.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.