IRE uses swap agreements and short-dated listed call options to make bullish bets on the share price of IREN Limited (NASDAQ: IREN). IREN Limited operates energy-efficient data centers that provide computing infrastructure for Bitcoin mining and AI workloads, focusing on scalable, sustainable power use for high-performance data processing. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in IRENs price through daily rebalancing. Returns may deviate from the expected 2x if held for longer than a single day due to factors such as volatility, compounding, or rebalancing effects. IRE may also hold US government securities, money market funds, short-term bond ETFs, and investment-grade corporate debt as collateral for its derivatives positions.

Defiance Daily Target 2X Long IREN ETF

Tidal Trust II - Defiance Daily Target 2X Long IREN ETF is an exchange traded fund launched and managed by Tidal Investments LLC. The fund invests in public equity markets. It invests directly and through derivatives in stocks of companies operating across software industry and information technology sectors. The fund uses derivatives such as swaps and options to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization. Tidal Trust II - Defiance Daily Target 2X Long IREN ETF was formed on October 20, 2025 and is domiciled in the United States

YTD	25.88%
1Y volatility	0.00%
3Y volatility	0.00%
Sharpe ratio	0.00

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