Defiance ETFs今日公告推出Defiance Daily Target 2X Long XOVR ETF (XOVL)，擴大其為积极交易者設計的杠杆型產品系列，旨在提供對美國成長型企業及公開-私募交叉空間的放大曝露。

XOVL旨在為尋求放大短期看空 bullish 觀點的交易者，提供200%日化ETF價格變動的 exposure。此產品基於ERShares Private-Public Crossover ETF (NASDAQ: XOVR)，該ETF結合聚焦美國成長型企業的精選投資組合與對選晚期私募公司的配置。XOVL旨在追蹤XOVR日均價格變動的200%，使投資人得以在ETF的透明度與便利性中表達對創新型公開公司及上市前公司的看好。

投資目標



fund尋求在扣除費用與開支後，達成XOVR日均價格變動的200%日化投資結果。 fund不具備超越單一交易日的目標。

底層ETF：ERShares Private-Public Crossover ETF

ERShares Private-Public Crossover ETF屬於主動型ETF，融合ERShares專有的ER30TR指數驅動公開股票精選與具政策上限的私募配置。XOVR以ERShares的「企業家因子」研究框架建構，具備日常流動性，且私募持倉以日常NAV標示。

投資XOVL並非直接投資ERShares Private-Public Crossover ETF。


The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues daily leveraged investment objectives, which means it is riskier than alternatives that do not use leverage. The Fund magnifies the performance of the Underlying Security and is designed strictly for short-term use. For periods longer than a single day, the Fund's performance will be the result of compounded daily returns, which is very likely to differ from 200% of the return of XOVR over the same period. It is possible that investors could lose their entire principal within a single trading day.

媒體聯繫：

Sylvia Jablonski

[email protected]

833.333.9383

重要說明

Defiance ETFs LLC為ETF的發起人。 fund的投資顧問為Tidal Investments, LLC (「Tidal」或「顧問」)。

fund的投資目標、風險、費用與開支須仔細考量。招募說明書與簡明招募說明書含此及其他重要資訊。請慎重閱讀招募說明書或簡明招募說明書後再投資。可致電833.333.9383索取印刷版。

投資有風險，本金可能受損。作為ETF， fund可能交易價差 NAV。股票以市場價格買賣，不以NAV價格為基礎。基金不會單獨以NAV價格購回或賣出股份。單一發行人集中度可能增加風險。 fund的策略執行不保證達成預期，投資人可能虧損全部或一部持倉。

XOVR價格下跌風險。 fund以杠杆投資策略進入swap協議及選擇權合約，間接持有XOVR價格變動的2倍曝露。若XOVR價格下跌， fund將可能貶值，並可能造成重大虧損。 fund可能面临以下風險：

間接XOVR投資風險。ERShares Private-Public Crossover ETF與本基金、顧問或其關联方無關联，且不參與本次發行，無需考慮 fund之持有者影響其價值之行動。

XOVR表現不佳風險。 ERShares Private-Public Crossover ETF價值可能因持倉受影響而下跌，包括成長型公私混合公司、市場情緒、更大市場變化或私募持倉估值變動。 XOVR的持倉可能因科技與通訊板塊集中度顯著受影響，且受風險投資與私募市場條件、利率環境、監管變動及競爭影響。

Underlying Security Risk. The Underlying Security is subject to many risks that can negatively impact the Fund. In addition to ETF Risks, Market Risks, Operational Risks, and Tax Risks, the Underlying Security is subject to the following risks (among other risks):

Private Company Investment Risks: XOVR holds investments in select private, late-stage companies that are not publicly traded. These investments are inherently less liquid, less transparent, and more difficult to value than publicly traded securities. Valuations of private companies rely on inputs and methodologies that are subject to greater uncertainty and potential adjustment than market quotations. Private holdings may also be subject to longer holding periods, restrictions on transfer, and limited information availability, all of which may negatively affect XOVR's net asset value and, by extension, the Fund's performance.

Growth and Innovation Sector Risks: XOVR's portfolio is concentrated in entrepreneurial growth companies, including significant exposure to the technology and communications sectors. Such companies may be subject to rapid technological change, evolving competitive dynamics, shifting consumer preferences, and elevated valuation sensitivity to changes in interest rates and market sentiment. Growth-oriented securities may be more volatile than the broader market and may experience sharp price declines during periods of risk aversion or sector rotation.

Concentration and Single-Holding Risks: XOVR has at times maintained substantial portfolio exposure to individual private holdings, which may represent a significant percentage of the fund's net assets. Adverse developments affecting a single large holding - including changes in valuation, delays in liquidity events such as initial public offerings, or company-specific operational issues - may have an outsized negative impact on XOVR's performance and, indirectly, on the Fund.

IPO and Liquidity Event Risks: Returns associated with private holdings may depend in part on the timing, terms, and market reception of liquidity events such as initial public offerings or acquisitions. There is no guarantee that any private holding will achieve a liquidity event, that such an event will occur on favorable terms, or that the public market will value the company at or above the carrying value reflected in XOVR's NAV.

Leverage Risk. The Fund obtains investment exposure in excess of its net assets by utilizing leverage and may lose more money in market conditions that are adverse to its investment objective than a fund that does not utilize leverage.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment that diversifies risk or tracks the market generally. The Fund's value may fluctuate more sharply in response to events affecting the ERShares Private-Public Crossover ETF than funds that invest in a broader range of issuers.

Swap Agreements. The use of swap transactions is a highly specialized activity, which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions.

Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates.

Compounding and Market Volatility Risk. The Fund's performance for periods greater than a trading day will be the result of each day's returns compounded over the period, which is likely to differ from 200% of the Underlying Security's performance.

Daily Correlation and Tracking Risk. There is no guarantee that the Fund will achieve a high degree of correlation with 200% of the daily performance of the ERShares Private-Public Crossover ETF. Market disruptions, extreme volatility, liquidity constraints, or limitations in the availability of derivatives may cause the Fund's performance to deviate from its daily leveraged investment objective.

Derivatives Risk. The Fund's use of swap agreements and options contracts involves risks different from, and potentially greater than, those associated with direct investments in securities. These risks include increased volatility, imperfect correlation with the Underlying Security, liquidity constraints, valuation challenges, and the potential for losses exceeding the amount initially invested.

Counterparty Risk. The Fund is subject to counterparty risk due to its use of derivatives. If a counterparty to a swap agreement or other derivative instrument fails to meet its contractual obligations, the Fund may experience losses, delays in recovering assets, or reduced exposure, which could negatively impact its performance.

Rebalancing Risk. The Fund seeks to rebalance its exposure daily to maintain its target leveraged exposure. If the Fund is unable to rebalance properly or in a timely manner due to market conditions, operational issues, or regulatory constraints, the Fund's exposure may differ materially from its intended objective, increasing risk and potential losses.

Non-Diversification Risk. The Fund is classified as non-diversified and may invest a greater percentage of its assets in a single issuer than a diversified fund. As a result, the Fund may be more sensitive to adverse economic, regulatory, or market developments affecting the ERShares Private-Public Crossover ETF.

High Portfolio Turnover Risk. Daily rebalancing of the Fund's holdings is expected to result in high portfolio turnover, which may increase transaction costs and potentially result in higher taxable distributions for shareholders.

Liquidity Risk. During periods of market stress or volatility, certain financial instruments held by the Fund may become less liquid, making it difficult to adjust exposure or meet the Fund's investment objective. Reduced liquidity may also result in wider bid-ask spreads and increased trading costs for investors.

New Fund Risk. The Fund is recently organized and has a limited operating history. As a result, there is limited performance history upon which investors can evaluate the Fund's ability to achieve its investment objective.

Diversification does not ensure a profit nor protect against loss in a declining market. Brokerage commissions may be charged on trades.

Distributed by Foreside Fund Services, LLC.

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