Defiance Files for International AI and Power Infrastructure ETF

Defiance has filed to launch the Defiance Developed ex US AI & Power Infrastructure ETF, a passively managed fund tracking the MarketVector Developed Markets ex US AI and Power Infrastructure Index. The ETF will target companies outside the U.S. involved in AI computing, data centers, electricity generation, grid modernization and related infrastructure. The index allocates 40% to power generation and grid equipment, 30% to data centers and AI hardware, 15% to construction and engineering, and 15% to utilities and power producers. Notably, the fund may invest up to 15% of its net assets in private companies, including pre-IPO businesses, although Defiance initially expects allocations of no more than approximately 5%. The index will rebalance quarterly, with individual holdings capped at 5%. A ticker and management fee have not been disclosed.