Tidal Trust II - Defiance Daily Target 2X Long UMAC ETF
UMAL
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- Tidal Trust II – Defiance Daily Target 2X Long UMAC ETF is a non-diversified, actively managed U.S. exchange-traded fund that seeks daily investment results, before fees and expenses, of 200% of the daily percentage change in the share price of Unusual Machines, Inc. (NYSE American: UMAC). The Fund provides leveraged, single-day long exposure to UMAC for active traders through derivative instruments, principally total-return swap agreements and, as available, listed options contracts, while also holding cash, money-market instruments and other short-term investments as collateral. It does not seek to achieve its 2x objective over periods longer than one trading day; performance over longer holding periods is affected by daily compounding and may differ materially from twice the cumulative performance of UMAC. The Fund’s shares trade on Cboe under the ticker UMAL and are purchased and sold in the secondary market through broker-dealers. Tidal Trust II, the statutory trust housing the Fund, is headquartered in Milwaukee, Wisconsin; Tidal Investments LLC serves as investment adviser, Defiance ETFs LLC serves as sponsor, and Foreside Fund Services LLC distributes Fund shares. The Fund focuses exclusively on indirect exposure to UMAC, a U.S. commercial-drone hardware company, and therefore serves investors seeking tactical exposure to the performance of a single issuer rather than direct ownership of UMAC common stock. UMAL was launched on June 17, 2026, representing Defiance ETFs’ expansion of its single-stock leveraged ETF platform and its introduction of the first daily 2x long ETF designed specifically around Unusual Machines.