Tidal Trust II - Defiance Daily Target 2X Long XOVR ETF
XOVL
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.Company Description
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 234 West Florida Street, Suite 700 Milwaukee WI United States of America 53204
- IPO Date
- May 5, 2026
- CIK
- 0001924868
- Similar Companies
- Business
- Tidal Trust II – Defiance Daily Target 2X Long XOVR ETF is a U.S.-domiciled, actively managed exchange-traded fund that seeks to provide daily investment results, before fees and expenses, equal to two times the daily percentage change in the share price of the ERShares Private-Public Crossover ETF (NASDAQ: XOVR). The fund, which trades under the ticker XOVL on the Cboe BZX Exchange, provides leveraged, indirect exposure to a concentrated public-private crossover portfolio of entrepreneurial U.S. companies and select late-stage privately offered companies, including exposure at times to innovation-oriented issuers such as SpaceX and Anduril through XOVR; it does not directly invest in, nor provide dedicated exposure to, SpaceX or other individual XOVR portfolio companies. XOVL principally uses total-return swap agreements with financial institutions and may use short-dated, in-the-money listed call options to obtain approximately 200% daily exposure to XOVR; it also maintains collateral investments in U.S. Treasury securities, money market funds, short-term bond ETFs, corporate debt securities and cash or cash equivalents. The fund has an 80% investment policy requiring exposure to financial instruments with economic characteristics expected to perform at two times XOVR’s daily performance, and it generally allocates 40% to 60% of assets as swap collateral or option premiums. XOVR, the underlying ETF, invests primarily in public equities selected using ERShares’ proprietary Entrepreneur Factor framework and may invest in privately offered securities, providing exposure across technology, communications, consumer, industrial, healthcare, energy, materials and other growth-oriented sectors. The fund is non-diversified and targets sophisticated, actively monitoring investors, as daily rebalancing, leverage and compounding can cause returns over periods longer than one trading day to differ materially from two times XOVR’s cumulative return. Tidal Investments LLC, a Tidal Financial Group company headquartered in Milwaukee, Wisconsin, serves as investment adviser; the fund is part of Tidal Trust II and is distributed under the Defiance ETFs brand. XOVL commenced operations on May 4, 2026, with a gross annual expense ratio of 1.31%, comprising a 1.29% management fee and 0.02% of other expenses. Its principal recent development is its May 2026 launch as Defiance’s leveraged XOVR product, expanding the sponsor’s daily-target leveraged ETF platform with a vehicle designed to offer 2x daily exposure to a diversified pre-IPO and public-company crossover strategy; Defiance subsequently distinguished XOVL from its separately launched SPCU ETF, which targets direct 2x daily exposure to SpaceX shares.