Key stats
About Defiance Nasdaq 100 LightningSpread Income ETF
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Inception date
Sep 17, 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
US88636V8845
QLDY seeks current income and, secondarily, capital growth by utilizing its proprietary LightningSpread strategy tied to the Nasdaq 100 Index. The fund creates synthetic long exposure by purchasing long-dated, deep in-the-money call options, which closely mirror the indexs performance and offer uncapped upside potential. To generate income, the fund sells zero days-to-expiration (0DTE) put spreads, writing a put option while buying another at a lower strike. The strategy is designed to distribute income to shareholders twice weekly. While the strategy provides steady income, it carries risk, if the index falls between the put spread strikes, the fund faces amplified losses because both the call options and put spreads lose value simultaneously. The fund will also hold short-term US treasuries and money market funds to earn more income on uninvested cash. For tax purposes, the weekly distributions will be treated as ordinary income.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Rights & Warrants
Bonds, Cash & Other100.00%
Rights & Warrants94.95%
Mutual fund2.45%
Government1.89%
Cash0.70%
Stock breakdown by region
North America100.00%
Latin America0.00%
Europe0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
Yes, QLDY pays dividends to its holders with the dividend yield of 0.38%. The last dividend (Oct 6, 2025) amounted to 0.20 USD. The dividends are paid monthly.
QLDY shares are issued by Toroso Investments Topco LLC under the brand Defiance. The ETF was launched on Sep 17, 2025, and its management style is Active.
QLDY expense ratio is 1.04% meaning you'd have to pay 1.04% of your investment to help manage the fund.
QLDY follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
QLDY invests in funds.