Defiance Files 16 Leveraged ETFs With Six Intraday Resets

Defiance has filed for 16 actively managed 2X ETFs tied to AAOI, AMD, DRAM, GOOG, META, MRVL, MSFT, MU, NBIS, NVDA, PLTR, SKHY, SNDK, SPCX, TSLA, and TSM. Each fund seeks 200% of its underlying security’s move over six intraday execution periods rather than a single daily reset, using swaps, listed options, and potentially direct holdings. The Solactive-based indexes use TWAP pricing to recalibrate exposure roughly hourly, which can increase trading costs, volatility drag, and compounding effects over periods longer than one reset window.