Key stats
About Defiance Daily Target 2x Short QBTS ETF
Home page
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
Identifiers
3
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.
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
Cash
Bonds, Cash & Other100.00%
Cash99.86%
Mutual fund0.14%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
QBTZ assets under management is 13.36 M USD. It's fallen 38.13% over the last month.
QBTZ fund flows account for 382.30 K USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
No, QBTZ doesn't pay dividends to its holders.
QBTZ shares are issued by Toroso Investments Topco LLC under the brand Defiance. The ETF was launched on Oct 6, 2025, and its management style is Active.
QBTZ expense ratio is 1.29% meaning you'd have to pay 1.29% of your investment to help manage the fund.
QBTZ follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
QBTZ invests in cash.
QBTZ price has risen by 27.85% over the last month, and its yearly performance shows a −31.81% decrease. See more dynamics on QBTZ price chart.
NAV returns, another gauge of an ETF dynamics, showed a 26.68% increase in three-month performance and has increased by 26.68% in a year.
NAV returns, another gauge of an ETF dynamics, showed a 26.68% increase in three-month performance and has increased by 26.68% in a year.
QBTZ trades at a premium (0.10%) meaning the ETF is trading at a higher price than the calculated NAV.