What is the ISIN of Defiance Daily Target 2X Short TSM ETF?

The ISIN of Defiance Daily Target 2X Short TSM ETF is US88636W1633.

What does leveraged daily exposure mean for Defiance Daily Target 2X Short TSM ETF?

Defiance Daily Target 2X Short TSM ETF aims to deliver 2 times the daily return of TSM (short/inverse). The leverage resets each trading day, so multi-day returns can differ materially from 2X the underlying's cumulative return.

What is volatility decay and how does it affect Defiance Daily Target 2X Short TSM ETF?

Volatility decay (also called compounding drag) occurs because Defiance Daily Target 2X Short TSM ETF rebalances daily. In choppy, sideways markets the cumulative return can significantly trail 2X the underlying's period return — even if the underlying ends flat. The effect intensifies with higher leverage factors and longer holding periods.

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Defiance Daily Target 2X Short TSM ETF (STSM) Price

Defiance Daily Target 2X Short TSM ETF Price

— EUR

PRO

TER1.31 %

AUM2.19 M USD

CurrencyUSD

Funds Launch11/17/2025

Defiance Daily Target 2X Short TSM ETF Price

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Underlying

TSM

TSM2X Short Daily

TSM

Defiance Daily Target 2X Short TSM ETF provides 2X inversedaily exposure to TSM.

Leverage & Compounding Risk

This ETF rebalances daily to achieve its 2X target. Over periods longer than one day, compounding can cause returns to deviate significantly from 2X the underlying's return — especially in volatile, sideways markets (volatility decay). This product is designed for short-term trading, not buy-and-hold investing.