Defiance Daily Target 2X Long ASTS ETF

ASTY uses swap agreements and short-dated listed call options to make bullish bets on the share price of AST SpaceMobile, Inc. (NASDAQ: ASTS). AST SpaceMobile, Inc. built the first and only space-based cellular broadband network designed to operate directly with standard mobile devices. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in ASTS price through daily rebalancing. Returns may deviate from the expected 2x if held for longer than a single day due to factors such as volatility and compounding effects. The fund expects to invest in US Government securities, money market funds, short-term bond ETFs, and corporate debt as collateral.