ETF Series Solutions – Defiance Retail Kings ETF is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing principally in U.S.-listed equity securities, including American depositary receipts, of companies identified as “Retail Kings.” The fund applies a retail-investor-sentiment model and momentum-scoring system to select generally 30 to 50 companies exhibiting strong individual-investor participation, digital engagement and bullish price momentum; it does not principally invest in retail-sector companies. Its portfolio may include common stocks and ADRs of U.S.-listed issuers across industries, with exposure focused on high-growth and high-momentum securities favored by self-directed retail investors. The fund is sponsored by ETF Series Solutions, advised by Defiance ETFs, LLC, and sub-advised by Penserra Capital Management LLC; it trades on Nasdaq under the ticker RKNG and carries a 0.79% annual management fee. The Defiance Retail Kings ETF was launched on January 21, 2026, as a strategic collaboration between Defiance ETFs and Futurum Equities to provide investors with a rules-informed, actively managed vehicle for accessing securities attracting significant retail-investor interest. ETF Series Solutions is headquartered in Milwaukee, Wisconsin, while Defiance ETFs is headquartered in New York, New York.