Key stats
About Defiance Daily Target 2x Short IONQ ETF
Home page
Inception date
Jun 23, 2025
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
IONZ primarily uses swaps to make bullish bets on the share price of IonQ, Inc. (NYSE: IONQ). IonQ sells quantum computing hardware along with maintenance and support services. The company also provides access to several quantum computers, each with different qubit capacities. The fund aims to maintain daily inverse exposure equivalent to 200% of the daily percentage change in IONQs share price through daily rebalancing. As a geared product, the fund is intended as a short-term tactical tool, rather than as a long-term investment vehicle. As a result, returns may deviate from the expected -2x if held for longer than a single day due to compounding. The Funds collateral for its derivatives positions can include the following: US Government securities, money market funds, short-term bond ETFs, corporate bonds, and other investment-grade short-term unsecured promissory notes.
Related funds
Classification
What's in the fund
Exposure type
Cash
Mutual fund
Bonds, Cash & Other100.00%
Cash53.53%
Mutual fund46.47%
Top 10 holdings
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
IONZ trades at 15.19 USD today, its price has risen 1.51% in the past 24 hours. Track more dynamics on IONZ price chart.
IONZ net asset value is 15.41 today — it's fallen 11.58% over the past month. NAV represents the total value of the fund's assets less liabilities and serves as a gauge of the fund's performance.
IONZ assets under management is 1.14 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
IONZ fund flows account for 1.40 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
IONZ invests in cash. See more details in our Analysis section.
IONZ expense ratio is 1.29%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
IONZ is an inverse fund, meaning it's structured to generate returns opposite to the trends of the underlying index or assets.
No, IONZ doesn't pay dividends to its holders.
IONZ trades at a premium (0.09%).
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
IONZ shares are issued by Toroso Investments Topco LLC
IONZ follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Jun 23, 2025.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.