Defiance Daily Target 2X Long IONQ ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 8 holdings as of Jan 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About IONX
TheFund is an actively managed exchange traded fund (“ETF”) that attempts to achieve two times (200%) the daily percentagechange in the share price of the Underlying Security by employing derivatives, namely swap agreements and/or listed options contracts.The Fund aims to achieve this daily percentage change for a single day, and not for any other period. A “single day”means the period “from the close of regular trading on one trading day to the close on the next trading day.” Ifthe Fund encounters limitations in implementing its strategies, whether due to market conditions, derivative availability, counterpartyissues, or other factors, the Fund may not achieve investment results, before fees and expenses, that correspond to two times(2x) the daily performance of the Underlying Security, and may return substantially less during such periods. During such periods,the Fund’s actual leverage levels may differ substantially from its intended target, both intraday and at the close of trading,potentially resulting in significantly lower returns. TheFund may enter into one or more swap agreements with financial institutions for a specified period, which may range from one dayto longer than a year. Through each swap agreement, the Fund and the financial institution will agree to exchange the return (ordifferentials in rates of return) earned or realized on the Underlying Security’s share price. The gross return (meaningthe return before deducting any fees or expenses) to be exchanged or “swapped” between the parties is calculated withrespect to a “notional amount,” (meaning the face amount of the instrument) e.g., the return on or change in valueof a particular dollar amount representing the Underlying Security. TheFund may also utilize listed options to seek to achieve leveraged 2X exposure to the Underlying Security. The Fund will primarilyemploy short-dated (a month or less) in-the-money call options (options with strike prices below the current market price of theUnderlying Security, offering immediate intrinsic value). Additionally, the Fund may use other option strategies to produce similarexposure to the Underlying Security, like buying calls and selling puts with identical strike prices. These options allow theFund to adjust its leverage strategy in response to market conditions, liquidity constraints, or other factors that may affectthe availability or pricing of swap agreements. The use of listed options provides additional flexibility in pursuing the Fund’sdaily investment objective. In situations where swap availability is constrained, the Fund may rely more heavily on options contracts.Additionally, the Fund may use options in response to changing market dynamics. However, the use of option contracts is typicallyless efficient than swaps and may increase the likelihood that the Fund is unable to achieve its daily 2X objective. Atthe end of each day, the Fund’s swaps and options are valued using market valuations and the Fund’s investment adviserrebalances the Fund’s holdings in an attempt to maintain leveraged exposure for the Fund equal to approximately 200% ofthe Underlying Security’s share price. Forexamples of a hypothetical investment in the Fund, see “Additional Information About the Fund – Principal InvestmentStrategies” in the Prospectus below. Fundperformance for periods greater than one single day is primarily (but not solely) a function of the following factors: a) theUnderlying Security volatility; b) the Underlying Security’s performance; c) period of time; d) financing rates associatedwith leveraged exposure; and e) other Fund expenses. TheFund will hold assets to serve as collateral for its derivatives positions. For those collateral holdings, the Fund may investin (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds; (3) shortterm bond ETFs; and/or (4) corporate debt securities, such as commercial paper and other short-term unsecured promissory notesissued by businesses that are rated investment grade or of comparable quality. TheFund has adopted a policy to have at least 80% of its net assets, plus borrowings for investment purposes, in financial instrumentswith economic characteristics that should perform 2X the daily performance of the Underlying Security’s shares. The Fundis expected to allocate between 40% and 60% of its assets as collateral for swap agreements or as premiums for purchased optionscontracts. For purposes of the 80% policy, derivatives will be valued at notional value. TheFund is classified as “non-diversified” under the 1940 Act. Becauseof daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer thana single day will be the result of each day’s returns compounded over the period, which will very likely differ from 200%of the return of the Underlying Security’s shares over the same period. The Fund will lose money if the Underlying Security’sperformance is flat over time, and because of daily rebalancing, the Underlying Security’s shares’ volatility andthe effects of compounding, the Fund may lose money over time while the Underlying Security’s performance increases overa period longer than a single day. As a consequence, investors should not plan to hold shares of the Fund unmonitored for periodslonger than a single trading day. IONQ,INC. (“IONQ”) IonQ,Inc. sells quantum computing hardware together with related maintenance and support. IONQ also sells access to several quantumcomputers of various qubit capacities and is in the process of researching and developing technologies for quantum computers withincreasing computational capabilities. IONQ is listed on the New York Stock Exchange. Per IONQ’s most recent Form 10-K filing,the aggregate market value of the voting stock of IONQ held by non-affiliates as of June 30, 2024 was $1.2 billion. IONQis registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Information provided toor filed with the SEC by IONQ pursuant to the Exchange Act can be located by reference to the SEC file number 001-39694 throughthe SEC’s website at www.sec.gov. In addition, information regarding IONQ may be obtained from other sources including,but not limited to, press releases, newspaper articles and other publicly disseminated documents. Thisdocument relates only to the securities offered hereby and does not relate to the shares of IONQ or other securities of IonQ,Inc. The Fund has derived all disclosures contained in this document regarding IONQ from the publicly available documents. Noneof the Fund, the Trust, or the Adviser, or their respective affiliates has participated in the preparation of such publicly availableoffering documents or made any due diligence inquiry regarding such documents with respect to IONQ. None of the Fund, the Trust,or the Adviser, or their respective affiliates makes any representation that such publicly available documents or any other publiclyavailable information regarding IONQ is accurate or complete. Furthermore, the Fund cannot give any assurance that all eventsoccurring prior to the date hereof (including events that would affect the accuracy or completeness of the publicly availabledocuments described above) that would affect the trading price of IONQ (and therefore the share price of IONQ at the time we pricethe securities) have been publicly disclosed. Subsequent disclosure of any such events or the disclosure of or failure to disclosematerial future events concerning IONQ could affect the value received with respect to the securities and therefore the valueof the securities. Noneof the Fund, the Trust, the Adviser, or their respective affiliates makes any representation to you as to the performance of IONQ. NONEOF THE FUND, TIDAL TRUST II, AND TIDAL INVESTMENTS LLC ARE AFFILIATED WITH THE UNDERLYING SECURITY. Dueto the Fund’s investment strategy, the Fund’s investment exposure is concentrated in the same industry as that assignedto the Underlying Security. As of the date of the Prospectus, IONQ is assigned to the Technology Hardware, Storage & Peripheralsindustry.
IONX News
- How IONX Corp (IONX) Affects Rotational Strategy Timing
- (IONX) and the Role of Price-Sensitive Allocations
- Defiance Daily Target 2X Long IONQ ETF (NASDAQ:IONX) Sees Significant Growth in Short Interest
- Responsive Playbooks and the IONX Inflection
- Defiance Daily Target 2X Long IONQ ETF (NASDAQ:IONX) Shares Gap Up – What’s Next?
- Defiance Daily Target 2X Long IONQ ETF (NASDAQ:IONX) Shares Gap Down – Should You Sell?
- Defiance Daily Target 2X Long IONQ ETF (NASDAQ:IONX) Sees Strong Trading Volume – Here’s Why
Data for IONX is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.