Defiance Launches First U.S. ETF Focused on AI Capacitor Supply Chain

Defiance has launched the Defiance AI Capacitors Leaders ETF (CAPA) on Cboe, billed as the first U.S.-listed ETF targeting multilayer ceramic capacitors (MLCCs) and other passive components powering AI infrastructure. CAPA tracks the BITA AI Capacitors Leaders Index, covering manufacturers of components used for power conditioning, voltage regulation and signal filtering in AI servers and data centers. The rules-based index generally targets companies with substantial capacitor exposure, uses free-float market-cap weighting with a 20% issuer cap and rebalances quarterly. Key constituents include TDK, Samsung Electro-Mechanics, Murata, Kyocera and Yageo.