Defiance Daily Target 2X Long LLY 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 LLYX
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 the section in the Fund’s Prospectus titled “AdditionalInformation About the Fund – Principal Investment Strategies.” 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% exposure to financial instruments with economic characteristics that should perform2X the daily performance of the Underlying Security’s shares. The Fund is expected to allocate between 40% and 60% of itsassets as collateral for swap agreements or as premiums for purchased options contracts. TheFund is classified as “non-diversified” under the 1940 Act. The Fund’s strategy is expected to result in a highannual portfolio turnover rate. 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. EliLilly and Company (“LLY”) LLYis a global pharmaceutical company, which is dedicated to discovering, developing, manufacturing, and marketing innovative medicinesin various therapeutic areas, including neuroscience, endocrinology, oncology, cardiovascular diseases, and immunology. LLY’sportfolio encompasses a wide range of prescription drugs, biologics, and animal health products. LLY is listed on the New YorkStock Exchange (“NYSE”). Per LLY’s most recent Form 10-K filing, the aggregate market value of the voting andnon-voting common equity held by non-affiliates of LLY (based on the last reported sale price of its common equity on June 30,2024 on the New York Stock Exchange) was approximately $769.8 billion. LLYis registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Information provided toor filed with the SEC by LLY pursuant to the Exchange Act can be located by reference to the SEC file number 001-06351 throughthe SEC’s website at www.sec.gov. In addition, information regarding LLY may be obtained from other sources including, butnot 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 LLY or other securities of LLY. TheFund has derived all disclosures contained in this document regarding LLY from the publicly available documents. None of the Fund,the Trust, or the Adviser, or their respective affiliates has participated in the preparation of such publicly available offeringdocuments or made any due diligence inquiry regarding such documents with respect to LLY. None of the Fund, the Trust, or theAdviser, or their respective affiliates makes any representation that such publicly available documents or any other publiclyavailable information regarding LLY is accurate or complete. Furthermore, the Fund cannot give any assurance that all events occurringprior to the date hereof (including events that would affect the accuracy or completeness of the publicly available documentsdescribed above) that would affect the trading price of LLY (and therefore the share price of the Fund at the time we price thesecurities) have been publicly disclosed. Subsequent disclosure of any such events or the disclosure of or failure to disclosematerial future events concerning LLY could affect the value received with respect to the securities and therefore the value ofthe securities. Noneof the Fund, the Trust, the Adviser, or their respective affiliates makes any representation to you as to the performance of LLY. NONEOF THE FUND, TIDAL TRUST II, OR TIDAL INVESTMENTS LLC IS AFFILIATED, CONNECTED, OR ASSOCIATED WITH ELI LILLY AND COMPANY. THEFUND WAS NOT DEVELOPED OR CREATED BY, AND IS NOT SPONSORED, ENDORSED, OR APPROVED BY, ELI LILLY AND COMPANY. Moreover,Eli Lilly and Company has not participated in the development of the Fund’s investment strategy. Eli Lilly and Company doesnot select or approve the Fund’s portfolio holdings, nor does it participate in the construction, design, or implementationof the Fund. Eli Lilly and Company does not provide any assurances, guarantees, or representations regarding the Fund or its performance.Nothing herein shall be construed as an offer of any security by Eli Lilly and Company. Noneof the Fund, the Trust, the Adviser, or their respective affiliates claim any ownership interest in any trademarks owned by LLYor its affiliates. All rights in the trademarks are reserved by their respective owners. 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, LLY is assigned to the pharmaceutical industry.
LLYX News
- Liquidity Mapping Around (LLYX) Price Events
- Eli Lilly takes weight-loss pill battle global with first Foundayo approval outside U.S.
- Eli Lilly easily tops quarterly estimates, raises outlook as Zepbound and Mounjaro sales surge
- Trading the Move, Not the Narrative: (LLYX) Edition
- (LLYX) Volatility Zones as Tactical Triggers
- Price-Driven Insight from (LLYX) for Rule-Based Strategy
Data for LLYX 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.