[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-565872-105":53,"doc-detail-565872-en":127},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":120,"head_meta":122,"extra_data":124,"updated_unix":126},105,"en","defiance-daily-target-2x-long-rklb-etf-summary-prospectus-august-28-2026","Defiance Daily Target 2X Long RKLB ETF - Summary Prospectus - August 28, 2026","","Defiance Daily Target 2X Long RKLB ETF summary prospectus dated August 28, 2026 explains the Fund’s objective to seek daily leveraged investment results equal to 200% of the daily percentage change in Rocket Lab Corporation’s share price. The prospectus highlights that daily compounding and higher underlying volatility can cause returns to differ materially from 200% over periods longer than a day. It also describes fees and annual operating expenses and notes the Fund’s unsuitability for investors unwilling to actively monitor leverage risks.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/defiance-daily-target-2x-long-rklb-etf-summary-prospectus-august-28-2026/565872/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/defiance-daily-target-2x-long-rklb-etf-summary-prospectus-august-28-2026/565872.png","ImageObject",442,249,{"name":88,"@type":89},"Maya Linwood","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-24","2026-10-13",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",8,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What investment objective does the Fund pursue?","Question",{"text":109,"@type":110},"The Fund seeks daily investment results, before fees and expenses, of two times (200%) the daily percentage change in Rocket Lab Corporation’s share price.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"Why does the Fund’s performance differ from 200% over periods longer than one trading day?",{"text":114,"@type":110},"Because the Fund seeks daily leveraged results, returns are compounded each trading day, so performance over longer periods is likely to differ from 200% of the underlying’s return for that period.",{"name":116,"@type":107,"acceptedAnswer":117},"Who is the Fund intended for?",{"text":118,"@type":110},"The Fund is designed for knowledgeable investors who understand the consequences of seeking daily leveraged (2X) results and the risks of leverage, and who are willing to monitor portfolios frequently.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},565872,1792092912,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":15,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":79},962084928432,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","Defiance Daily Target 2X Long RKLB ETF Trading Symbol: RKLX  \nListed on The Nasdaq Stock Market, LLC Summary Prospectus August 28, 2026  \n[www.defianceetfs.com/RKLX](www.defianceetfs.com/RKLX)  \nBefore you invest, you may want to review the Defiance Daily Target 2X Long RKLB ETF (the “Fund”) statutory prospectus and statement of additional information, which contain more information about the Fund and its risks. The current statutory prospectus and statement of additional information dated August 28, 2026 are incorporated by reference into this Summary Prospectus. You can find the Fund’s statutory prospectus, statement of additional information, reports to shareholders, and other information about the Fund online [at www.defianceetfs.com/RKLX. You can also get](at www.defianceetfs.com/RKLX. You can also get) this information at no cost by calling at (833) 333-9383 or by sending an email request [to info@DefianceETFs.com](to info@DefianceETFs.com).  \nImportant Information About the Fund  \nThe Defiance Daily Target 2X Long RKLB ETF (the “Fund”) seeks daily leveraged investment results of two times (200%) the daily percentage change in the share price of Rocket Lab Corporation (NASDAQ: RKLB) (the “Underlying Security” or “RKLB”) . Because the Fund seeks daily leveraged investment results, it is very different from most other exchange-traded funds. It is also riskier than alternatives that do not use leverage.  \nThe return for investors that invest for periods longer or shorter than a trading day should not be expected to be 200% of the performance of the Underlying Security’s shares for the period. The return of the Fund for a period longer than a trading day will be the result of each trading day’s compounded return during such period held, which will very likely differ from 200% of the return of the Underlying Security’s shares for that period. Holding shares of the Fund for longer than a single day and higher volatility of the Underlying Security’s shares increase the impact of compounding on an investor’s returns, which may have a negative or positive impact on an investor’s returns. During periods of higher Underlying Security share price volatility, the volatility of the Underlying Security’s shares may affect the Fund’s return as much as, or more than, the return of the Underlying Security’s shares. The impact of compounding will impact each shareholder differently depending on the period of time an investment in the Fund is held and the volatility of the Underlying Security’s shares during a shareholder’s holding period of an investment in the Fund. See “Principal Investment Risks – Compounding and Market Volatility Risk” below for an example of how volatility of the Underlying Security’s shares may affect the Fund’s return as much as, or more than, the return of the Underlying Security’s shares.  \nThe Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. For periods longer than a single day, the Fund will lose money if the Underlying Security’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Security’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.  \nInvestment Objective  \nThe Fund seeks daily investment results, before fees and expenses, of two times (200%) the daily percentage change in the share price of Rocket Lab Corporation (NASDAQ: RKLB) . The Fund does not seek to achieve its stated investment objective for a period other than a single trading day.  \nFees and Expens","cbCaifRMeRL9OWZs","https://ap.wps.com/l/cbCaifRMeRL9OWZs","pdf",297065,"English","# Important Information About the Fund\n## Investment Objective\n## Fees and Expenses of the Fund","[{\"question\":\"What investment objective does the Fund pursue?\",\"answer\":\"The Fund seeks daily investment results, before fees and expenses, of two times (200%) the daily percentage change in Rocket Lab Corporation’s share price.\"},{\"question\":\"Why does the Fund’s performance differ from 200% over periods longer than one trading day?\",\"answer\":\"Because the Fund seeks daily leveraged results, returns are compounded each trading day, so performance over longer periods is likely to differ from 200% of the underlying’s return for that period.\"},{\"question\":\"Who is the Fund intended for?\",\"answer\":\"The Fund is designed for knowledgeable investors who understand the consequences of seeking daily leveraged (2X) results and the risks of leverage, and who are willing to monitor portfolios frequently.\"}]","Defiance Daily Target 2X Long RKLB ETF - Summary Prospectus - August 28, 2026 | PDF",1791859929]