Key stats
About Defiance Nasdaq 100 LightningSpread Income ETF
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Inception date
Sep 17, 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
US88636V8845
QLDY seeks current income and, secondarily, capital growth by utilizing its proprietary LightningSpread strategy tied to the Nasdaq 100 Index. The fund creates synthetic long exposure by purchasing long-dated, deep in-the-money call options, which closely mirror the indexs performance and offer uncapped upside potential. To generate income, the fund sells zero days-to-expiration (0DTE) put spreads, writing a put option while buying another at a lower strike. The strategy is designed to distribute income to shareholders twice weekly. While the strategy provides steady income, it carries risk, if the index falls between the put spread strikes, the fund faces amplified losses because both the call options and put spreads lose value simultaneously. The fund will also hold short-term US treasuries and money market funds to earn more income on uninvested cash. For tax purposes, the weekly distributions will be treated as ordinary income.
Related funds
Classification
What's in the fund
Exposure type
Rights & Warrants
Stock breakdown by region
Top 10 holdings
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
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.
QLDY trades at 50.96 USD today, its price has fallen −0.90% in the past 24 hours. Track more dynamics on QLDY price chart.
QLDY net asset value is 50.94 today — it's fallen 0.08% over the past month. NAV represents the total value of the fund's assets less liabilities and serves as a gauge of the fund's performance.
QLDY assets under management is 6.39 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.
QLDY fund flows account for 6.30 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
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.
QLDY invests in funds. See more details in our Analysis section.
QLDY expense ratio is 1.04%. 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.
No, QLDY isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, QLDY pays dividends to its holders with the dividend yield of 0.76%.
QLDY trades at a premium (0.03%).
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
QLDY shares are issued by Toroso Investments Topco LLC
QLDY 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 Sep 17, 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.