Defiance Daily Target 2X Short LLY ETF (LLYZ) is an exchange-traded fund that seeks daily investment results, before fees and expenses, of two times the inverse (-200%) of the daily percentage change in the share price of Eli Lilly and Company (NYSE: LLY). The fund provides amplified inverse exposure to Eli Lilly, a global pharmaceutical leader in diabetes, oncology, immunology, neuroscience, and other therapeutic areas, through derivatives including swap agreements and short-dated listed call options; it holds cash equivalents, U.S. Treasury bills, and government obligations funds for collateral while maintaining daily rebalancing to achieve its leveraged objectives. LLYZ targets sophisticated, actively managing investors seeking enhanced short exposure without a margin account and pays monthly distributions.
Launched on September 2, 2025, as the first 2X short ETF specifically for Eli Lilly, LLYZ represents Defiance ETFs' expansion into single-stock leveraged inverse products amid growing demand for targeted trading tools. The fund operates under Tidal Trust II, with legal registration in Wilmington, Delaware, and ties to Defiance's headquarters in Miami, Florida. Defiance ETFs, founded in 2018, specializes in thematic, income, and leveraged ETFs, issuing LLYZ to empower retail traders with precise downside bets on high-profile issuers like Eli Lilly. No major partnerships, acquisitions, or reorganizations have been reported for LLYZ in the past year beyond its inaugural launch and ongoing product filings for similar single-stock ETFs.