Defiance Daily Target 2x Short MSTR ETF
SMST
NASDAQ Global Market- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- H. Michael Schwartz
- Full Time Employees
- 780
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 234 West Florida Street Milwaukee NY United States of America 53204
- IPO Date
- Aug 21, 2024
- CIK
- 0001585389
- Website
- defianceetfs.com
- Similar Companies
- Business
- Defiance Daily Target 1.5X Short MSTR ETF (SMST) is an actively managed, non-diversified exchange-traded fund that seeks daily investment results, before fees and expenses, equal to -1.5 times the daily percentage change in the share price of MicroStrategy Incorporated (Nasdaq: MSTR); the fund primarily achieves its investment objective through the use of swap agreements and options contracts tied to MSTR common stock, supplemented by holdings in cash equivalents, U.S. Treasury bills, and government obligations funds such as the First American Government Obligations Fund. Launched on August 20, 2024, and listed on Nasdaq, SMST targets sophisticated traders seeking short-term inverse leveraged exposure to MSTR, a company known for its bitcoin acquisition strategy and enterprise analytics software business, without direct investment in bitcoin; the fund operates in the U.S. market with high portfolio turnover due to daily rebalancing and carries a net expense ratio of approximately 1.31%. Defiance ETFs, the fund sponsor founded in 2018 and headquartered in Miami, Florida, also serves as the investment adviser through its affiliate Tidal Investments LLC, with distribution handled by Foreside Fund Services LLC. In a recent major development, Defiance ETFs launched SMST on August 21, 2024, as the first short MicroStrategy ETF in the U.S., building on the success of its complementary Defiance Daily 1.75X Long MicroStrategy ETF (MSTX); the company has since expanded its single-stock leveraged ETF suite with new products including the Daily Target 2X Long MP ETF (MPL), 2X Long IREN ETF (IRE), 2X Long QS ETF (QSU), and Daily Target 2X Short AMD ETF (DAMD) in 2025, alongside other thematic and income-focused offerings in artificial intelligence, quantum computing, and leveraged strategies.