Overview

This week’s report covers the Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Corgi TPL 2x Daily ETF (TPLX), which are Directional Leveraged ETFs designed to amplify the daily performance of their respective underlying stocks. BMNZ targets -2x the daily performance of BitMine Immersion Technologies (BMNR), providing leveraged bearish exposure, while TPLX targets 2x the daily performance of Texas Pacific Land Corporation (TPL), providing leveraged bullish exposure. Both funds use derivatives to obtain their targeted exposure and are designed primarily for short-term, actively managed trading rather than long-term buy-and-hold strategies.

Section 1: Defiance Daily Target 2X Short BMNR ETF (BMNZ)

The Defiance Daily Target 2X Short BMNR ETF (BMNZ) seeks to provide daily inverse investment results equal to -2 times (-200%) the daily percentage change in the share price of BitMine Immersion Technologies, Inc. (NYSE: BMNR). The fund uses financial instruments including derivatives to obtain its targeted inverse exposure and explicitly does not seek to achieve its objective over any period longer than a single trading day.

Past performance is not a reliable indicator of future performance.