Defiance Nasdaq 100 LightningSpread Income ETF

Defiance Nasdaq 100 LightningSpread Income ETF is an actively managed exchange-traded fund designed to provide frequent income alongside uncapped exposure to the performance of the Nasdaq 100 Index. Utilizing its proprietary LightningSpread™ strategy, the fund combines long-term, deep in-the-money call options on the Nasdaq 100—delivering nearly one-to-one participation in index movements while avoiding direct stock ownership—with daily sales of zero-days-to-expiration (0DTE) put spreads to generate options premium income. A distinctive feature of this ETF is its bi-weekly distribution schedule, offering payouts to investors twice per week, targeting steady income while maintaining growth potential. To enhance yield from uninvested cash, the fund also invests in short-term U.S. Treasury securities and money market funds. While designed to maximize income and retain upside potential, the strategy's daily put spread component can intensify risk in volatile markets, especially during sharp single-day declines in the index. Overall, this ETF plays a niche role within the market, catering to investors seeking innovative, income-oriented exposure to the technology-driven Nasdaq 100 sector.