Key stats
About Defiance Daily Target 2X Long CVNA ETF
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Inception date
May 28, 2025
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Tidal Investments LLC
Distributor
Foreside Fund Services LLC
ISIN
US88636R2141
CVNX uses swap agreements to make bullish bets on Carvana Co. (CVNA) share price. Carvana is an e-commerce platform that specializes in buying and selling used cars online. The company offers vehicle financing, trade-ins, and home delivery, and is known for its car vending machines and vertically integrated operations. The fund seeks to maintain daily leveraged exposure equivalent to 200% of the daily percentage change in CVNA's share price through daily rebalancing. As a leveraged product, it is designed for short-term tactical use, not as a long-term investment vehicle. Returns may deviate from the expected 2x if held longer than a single day due to factors like volatility and compounding effects. This strategy is high-risk and does not incorporate a defensive position. CVNX could potentially lose value over time, even if CVNA's performance is strong. It is expected to invest in US Government securities, money market funds, short-term bond ETFs, and corporate debt as collateral.
Related funds
Classification
What's in the fund
Exposure type
Cash
Government
Stock breakdown by region
Top 10 holdings
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
CVNX assets under management is 2.00 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
CVNX invests in cash. See more details in our Analysis section.
CVNX expense ratio is 1.31%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
Yes, CVNX is a leveraged ETF, meaning it uses borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
No, CVNX doesn't pay dividends to its holders.
CVNX shares are issued by Toroso Investments Topco LLC
CVNX follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on May 28, 2025.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.