Defiance to Liquidate Two More Leveraged ETFs (COPZ, KEEX)

Defiance is closing two additional leveraged ETFs, the Defiance Daily Target 2X Long Copper Miners ETF (COPZ) and the Defiance Daily Target 2X Long KEEL ETF (KEEX). The closures follow a recommendation from investment adviser Tidal Investments, which determined that liquidation would be in shareholders' best interests. COPZ, listed on NYSE Arca, and KEEX, listed on Cboe BZX, will both cease trading and close to new purchases after November 23, 2026, with liquidation scheduled for November 30. Investors may sell their shares before the closing date, although liquidity could become limited afterward. Both funds will gradually convert their portfolios into cash and stop pursuing their leveraged investment objectives. Remaining shareholders will receive cash distributions, which may result in taxable capital gains or losses.