Defiance ETFs

What Defiance ETFs does

Defiance ETFs, LLC is a privately held, SEC-registered investment adviser founded in 2018 and headquartered in Miami, Florida, that sponsors a thematic, leveraged, and income-focused ETF lineup. As of mid-2026 the firm operates 83 ETFs with aggregate lineup assets of $12.73 billion (including Tidal-advised funds in which Defiance holds an economic interest), listed on Nasdaq, NYSE, and Cboe and distributed through Foreside Fund Services. The product set is organized into three categories: thematic ETFs (flagship QTUM quantum computing ETF with $5-6B AUM, AIPO AI & power infrastructure, JEDI drone and modern warfare, ASD autism impact, QTUP pure quantum, XMAG large-cap ex-Mag 7, DRAM memory semiconductors); leveraged and inverse single-stock ETFs using swap agreements and listed options to deliver 2X or -2X daily exposure to individual stocks; and income ETFs that employ covered call and options-spread strategies on the Nasdaq-100, S&P 500, Russell 2000, gold, and oil.

The firm operates a highly capital-light model: revenue is generated from ETF management fees tied to AUM, with expense ratios ranging from 0.35% on broad thematic products (XMAG) to 1.31% on derivatives-heavy leveraged products (ZETX). Distribution is indirect, reaching end investors through broker-dealers, registered investment advisors, retail brokerage accounts, and active traders, while Tidal Investments LLC acts as investment adviser for many products. The lean internal team (1-10 employees per firmographics) is led by CEO Matthew Bielski and CIO/co-founder Sylvia Jablonski, with General Counsel Gabriella Zahn-Bielski, and operates within a parent holding structure (Defiance Group Holdings, LLC) that also owns analytics subsidiary Defiance Analytics, LLC.

Recent strategic emphasis has been on aggressive product velocity (20+ launches in 2026 covering quantum, AI infrastructure, drones, space, memory semiconductors, and pure-play quantum), international expansion via European UCITS ETFs launched with HANetf (Xetra, Borsa Italiana, London Stock Exchange), and continued first-mover positioning in daily leveraged single-stock ETFs around high-profile events such as the SpaceX IPO. Revenue concentration risk is product-level (BU and CVNX ETFs were liquidated in June 2026) rather than customer-level, and the franchise has reached $500M AUM milestones within 7-10 months of launch on multiple products, indicating sustained demand-side momentum.

Name

Defiance ETFs

Legal name

Defiance ETFs, LLC

Website

https://defianceetfs.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Defiance ETFs is a privately held, Miami-based ETF sponsor founded in 2018 that issues 83 thematic, leveraged single-stock, and income ETFs ($12.73B aggregate AUM as of June 2026), serving financial advisors, RIAs, retail investors, and active traders via Nasdaq, NYSE, and Cboe listings.

Ownership category

akta.pro rank

Product category

Exchange-Traded Funds (ETF Management)

NAICS

Open-End Investment Funds (525910), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Thematic & Megatrend ETFs (FSAAAFAI)

akta.pro secondary industries

Leveraged & Inverse ETFs (FSAAAFAK), Real Assets & Infrastructure ETFs (REITs, Infrastructure, Natural Resources) (FSAAAFAH)

Keywords

• Thematic ETFs
• Leveraged single-stock ETFs
• Exchange-traded funds
• ETF asset management
• Thematic investing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Marketing or Sales, Personnel, Infrastructure, Others

Revenue model

1. ETF Management Fees: Defiance earns management fees based on assets under management across its ETF lineup. For ETFs where Defiance ETFs serves as the investment adviser, the firm provides investment management services and collects management fees. The fee structure varies by product, with expense ratios ranging from 0.35% to 1.31% depending on the ETF complexity and leverage structure.
2. Advisory Fee Income: Defiance holds economic interests in additional ETFs for which it does not serve as the investment adviser, deriving financial benefits related to its economic interest. This includes Tidal-advised ETFs where Defiance has an ownership stake.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Defiance ETFs is an ETF issuer and registered investment adviser that sponsors and manages thematic, leveraged single-stock, and income-focused exchange-traded funds. The firm designs proprietary ETF structures using swap agreements and listed options contracts to deliver amplified daily exposure to individual stocks, as well as targeted exposure to emerging technology themes such as quantum computing, AI infrastructure, drones, space, and semiconductors.

Product overview

Defiance ETFs is an ETF issuer founded in 2018 with 83 ETFs managing $12.73 billion in aggregate assets. The company operates three core product categories: (1) Thematic ETFs including QTUM and QTUP for quantum computing, AIPO for AI power infrastructure, JEDI for drones and modern warfare, ASD for autism impact, DRAM for memory semiconductors, XMAG for large-cap ex-Mag 7 exposure, and SIXG for connective technologies; (2) Leveraged Single-Stock ETFs offering 2X or inverse 2X daily exposure to individual stocks including SPCU/SPCQ for SpaceX, DRAL for DRAM/memory, MSTX/SMCX/SMCZ for AI and semiconductor stocks, and dozens of others covering companies like IonQ, Rigetti, Micron, Super Micro, Moderna, and others; and (3) Income ETFs including QLDY, QQQY, QQQT, SPYT, IWMY, WDTE, USOY, GLDY, and YBMN that generate income through options strategies. The company also offers UCITS versions of its products for European investors through HANetf partnerships. Tidal Investments serves as investment adviser for most products while Defiance acts as ETF sponsor.

Differentiator

Problem solved

Functional benefit

Products and services

• QTUM (Defiance Quantum ETF) Flagship thematic ETF tracking the BlueStar Quantum Computing and Machine Learning Index, providing equal-weighted exposure across quantum and ML hardware companies. For growth-oriented investors seeking diversified exposure to the quantum computing and machine learning supply chain.
• QTUP (Defiance Long Pure Quantum ETF) Quantum ETF targeting early-stage companies primarily dedicated to quantum computing, requiring at least 80% of net assets in 'Pure Quantum Companies' with 50%+ revenue from quantum computing or machine learning. For growth-oriented investors seeking concentrated pure-play quantum exposure.
• AIPO (Defiance AI & Power Infrastructure ETF) First ETF focused specifically on AI power infrastructure, investing in companies involved in power generation, grid modernization, data center infrastructure, and energy systems supporting AI workloads. For investors seeking exposure to the AI infrastructure buildout beyond the Magnificent Seven.
• JEDI (Defiance Drone & Modern Warfare ETF) ETF tracking the BITA Drone & Modern Warfare Select Index, providing targeted exposure to companies involved in military drones, autonomous systems, electronic warfare, and related defense technology segments. For defense and thematic investors.
• ASD (Defiance Autism Impact ETF) First ETF designed to provide targeted exposure to companies developing products, therapies, services, and technologies supporting individuals with autism and related neurodevelopmental conditions, tracking the VettaFi Autism Impact Index. For impact investors seeking alignment with autism-related causes.
• DRAM (Defiance Memory UCITS ETF) Europe's first memory-focused ETF providing European investors exposure to companies involved in memory semiconductor and data storage systems development, manufacturing, and commercialization. Listed on Xetra, Borsa Italiana, and London Stock Exchange.
• XMAG (Defiance Large Cap ex-Mag 7 ETF) ETF providing broad U.S. large-cap exposure while deliberately excluding all Magnificent Seven companies (Microsoft, Apple, Alphabet, Amazon, Meta, Nvidia, Tesla), offering AI exposure through non-Mag 7 holdings.
• SIXG (Defiance Connective Technologies ETF) ETF tracking the BlueStar Connective Technologies Index, holding 60 stocks weighted toward companies involved in 5G/6G rollout, AI-data semiconductors, satellite communications, and telecommunications infrastructure.
• SPCU (Defiance Daily Target 2X Long SpaceX ETF) Daily 2X leveraged ETF providing 200% daily exposure to SpaceX Class A common stock through swap agreements and listed options. Designed for sophisticated active traders seeking amplified SpaceX exposure without a margin account.
• SPCQ (Defiance Daily Target 2X Short SpaceX ETF) Daily 2X inverse leveraged ETF providing -200% daily exposure to SpaceX Class A common stock for sophisticated active traders seeking short positions.
• DRAL (Defiance Daily Target 2X Long DRAM ETF) Leveraged fund providing 200% daily exposure to the Roundhill Memory ETF (DRAM), targeting active traders seeking amplified positions on the AI memory theme.
• MSTX (Defiance Daily Target 2X Long MSTR ETF) Daily 2X leveraged ETF tracking MicroStrategy (MSTR) stock, offering amplified exposure to Bitcoin-linked strategy through daily reset mechanism. For active traders seeking leveraged MicroStrategy exposure without a margin account.
• SMCX (Defiance Daily Target 2X Long SMCI ETF) Daily 2X leveraged ETF tracking Super Micro Computer (SMCI), an AI server maker, with amplified daily exposure for active traders.
• MUZ (Defiance Daily Target 2X Short MU ETF) First 2X short ETF for Micron Technology, Inc., providing inverse leveraged short-term exposure for sophisticated active traders.
• UMAL (Defiance Daily Target 2X Long UMAC ETF) First daily 2X long ETF for Unusual Machines, Inc. (UMAC), a commercial drone company, targeting active traders seeking amplified short-term exposure.
• INFH (Defiance Daily Target 2X Long INFQ ETF) First daily leveraged ETF offering 200% exposure to Infleqtion, Inc., a neutral-atom quantum technology company serving government, defense, aerospace, and enterprise customers.
• VELL (Defiance Daily Target 2X Long VELO ETF) First daily 2X long ETF for Velo3D, Inc., specializing in advanced metal additive manufacturing for space, defense, aviation, and energy sectors.
• AMA (Defiance Daily Target 2X Long AMAT ETF) First daily 2X long ETF for Applied Materials, Inc., providing amplified exposure to a provider of manufacturing equipment for semiconductor and display industries.
• POEL (Defiance Daily Target 2X Long POET ETF) First daily 2X long ETF for POET Technologies Inc., a Canada-based design and development company offering photonic integrated packaging solutions for semiconductor and data communications markets.
• ASTY (Defiance Daily Target 2X Long ASTS ETF) Daily 2X leveraged ETF tracking AST SpaceMobile, Inc. for amplified short-term bullish exposure to the satellite designer and manufacturer developing space-based cellular broadband network.
• COPZ (Defiance Daily Target 2X Long Copper ETF) Daily 2X leveraged ETF providing 200% daily exposure to the Global X Copper Miners ETF (COPX) for active traders seeking amplified short-term exposure to copper mining.
• RCAX (Defiance Daily Target 2X Long RCAT ETF) First 2x leveraged ETF designed to track Red Cat Holdings' stock, a drone company, for active traders seeking amplified short-term exposure.
• ASTN (Defiance Daily Target 2X Short ASTS ETF) First 2X short ETF of AST SpaceMobile Inc., designed for short-term trading by sophisticated investors seeking bearish positions.
• ZETX (Defiance Daily Target 2X Long ZETA ETF) Daily 2X leveraged ETF tracking Zeta Global Holdings Corp., a software company focused on AI-powered marketing, customer data, and omnichannel engagement solutions.
• QQQY (Defiance Nasdaq 100 Weekly Distribution ETF) Weekly distribution income ETF focused on the Nasdaq-100, targeting yield through options overlay strategies. For income-focused investors.
• SPYT (S&P 500 Income Target ETF) ETF aiming to generate high monthly income through writing call options on the S&P 500. For income-focused investors.
• IWMY (R2000 Weekly Distribution ETF) ETF employing a synthetic covered call strategy on the Russell 2000 Index, targeting a 30% annualized distribution rate using daily call spread strategy. For income-focused investors.
• WDTE (Defiance S&P 500 Weekly Distribution ETF) Weekly distribution income ETF focused on the S&P 500. For income-focused investors seeking weekly distributions.
• GLDY (Defiance Gold Enhanced Options Income ETF) Gold-focused enhanced options income ETF. For income-focused investors seeking exposure to gold with options overlay.
• USOY (Oil Enhanced Options Income ETF) Oil-focused options income ETF. For income-focused investors seeking exposure to oil with options overlay strategies.
• AIPO UCITS (Defiance AI & Power Infrastructure UCITS ETF) Defiance's first European UCITS ETF based on the US-listed AIPO ETF, with 0.69% TER. Listed on Xetra, Borsa Italiana, and London Stock Exchange. Provides European investors exposure to AI power infrastructure.
• YBMN (Defiance BMNR Option Income ETF) ETF targeting weekly income through options overlay on Bitmine Immersion Technologies. For income-focused investors.
• QQQT (Nasdaq 100 Income Target ETF) Income target ETF focused on the Nasdaq-100, generating monthly distributions through options-based strategies. For income-focused investors.

Quantifiable outcome

• QTUM delivered 54% year-to-date returns through June 2026, significantly outperforming S&P 500
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• HANetfcoreChannel Partner/ Reseller/ DistributorDefiance partnered with HANetf as the white-label platform provider to launch its European UCITS ETF lineup, including the first European memory semiconductor UCITS ETF (DRAM), AI & Power Infrastructure UCITS ETF (AIPO), and additional UCITS products. This partnership enables Defiance to access European investors through listings on Xetra, Borsa Italiana, and London Stock Exchange.
• Tidal Investments LLCcoreChannel Partner/ Reseller/ DistributorTidal Investments serves as the investment adviser for many ETFs in the Defiance lineup, providing portfolio management and operational services. Defiance holds economic interests in these Tidal-advised ETFs. The partnership enables Defiance to offer a broader range of products while leveraging Tidal's investment management infrastructure.
• Foreside Fund Services LLCcoreChannel Partner/ Reseller/ DistributorForeside Fund Services serves as the principal distributor for Defiance ETFs, enabling broad distribution through the broker-dealer network and custody platforms. This distribution partnership ensures ETFs reach institutional and retail investors through standard investment channels.
• Roundhill InvestmentsminorOthersDefiance partnered with Roundhill Investments' Memory ETF (DRAM) as the underlying reference for its leveraged DRAM product (DRAL). The 2X Long DRAM ETF provides leveraged exposure to the Roundhill Memory ETF, creating a product relationship in the memory semiconductor theme.
• VettaFicoreTechnology or IntegrationVettaFi developed the VettaFi Autism Impact Index that serves as the underlying benchmark for Defiance's Autism Impact ETF (ASD). This index partnership provides the methodology and tracking for Defiance's first impact-focused ETF, with constituents required to have minimum $250 million market cap and $1 million average daily trading value.

Scale indicators12 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Roundhill Investments: Roundhill is a thematic ETF issuer (covered call, meme stocks, memory, AI) that both competes with and partners with Defiance (Defiance's DRAL references Roundhill's DRAM ETF). Overlap in thematic launches, including AI/memory products, makes Roundhill a direct peer in the emerging thematic space.
• ProShares: ProShares is a major leveraged ETF pioneer offering 2X and inverse products on equities, commodities, and themes. It overlaps with Defiance on leveraged single-stock and thematic exposure (and was named in SEC pushback on 5x products), making it both a direct peer and a larger incumbent in the same category.
• Direxion: Direxion is an established leveraged and thematic ETF issuer offering 1.25X-2X bull/bear products on sectors and single stocks. It directly overlaps with Defiance's leveraged single-stock and thematic lineup and is one of the larger incumbents competing for the same active-trader wallet.
• Leverage Shares: Leverage Shares is a direct competitor in single-stock leveraged ETFs, offering 2X and inverse exposure on individual U.S. and international equities. It competes head-to-head with Defiance on products like leveraged SpaceX and semiconductor tickers and was named alongside Defiance in SEC pushback on hyper-leveraged launches.
• GraniteShares: GraniteShares is a direct peer in single-stock and thematic leveraged ETFs, with a similar product set targeting active traders. It is one of the issuers explicitly named in SEC concerns about 5x leveraged products, indicating identical regulatory exposure to Defiance.

Emerging players

• Tema ETFs: Tema is an emerging thematic ETF sponsor focused on long-term structural themes (luxury, ESG, healthcare). It is smaller than Defiance but pursues a comparable thematic-first product strategy and competes for the same thematic-investor segment.
• AXS Investments: AXS Investments is a thematic ETF sponsor (income, thematic, SPAC-related products) that competes with Defiance's income and thematic ETFs. Overlap is partial but in the same niche of high-conviction, theme-driven funds.
• Simplify ETFs: Simplify ETFs is an emerging thematic and options-income ETF issuer offering covered call and derivative-overlay products. It overlaps with Defiance's income ETF family (QLDY, SPYT, IWMY) and certain thematic funds.
• Tuttle Capital Management: Tuttle Capital is an emerging thematic and leveraged single-stock ETF sponsor using Tidal as adviser, closely mirroring Defiance's structure. It competes in the same niche of tactical single-stock and thematic ETFs for active traders.

Broad incumbents

• Global X ETFs: Global X is a broad thematic ETF incumbent owned by Mirae Asset, with a large lineup spanning technology, commodities, and income themes. Its COPX copper ETF is referenced inside Defiance's COPZ product, and Global X competes directly with Defiance's AIPO/quantum/memory themes at larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/defianceinvest

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Defiance ETFs