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Tuesday, May 28, 2024 Defiance and Tidal Target Nuclear Energy, And ... The folks at a Florida fund firm are teaming up with a familiar ally to launch a new leveraged fund and prep four more.
URAX is a series of Tidal Trust II, as will be TANX, LITX, COPZ, and CRBX. All five will be actively managed, non-diversified funds with an expense ratio of 95 basis points. And all five funds will be traded on the NYSE Arca, Inc.. Tidal Investments LLC [profile] will serve as investment advisor to all five new ETFs, and Miami-based Defiance Group Holdings LLC will serve as sponsor. The funds' PM team includes: Qiao Duan, portfolio manager at Tidal; and Christopher Mullen, PM at Tidal. Each of the five new Defiance ETFs will be designed to offer double (200 percent) of the daily returns of a specific, non-Defiance index fund. URAX is designed to track the Global X Uranium ETF (URA). URA debuted 14 years ago and had $3.52 billion in AUM as of Friday. Brand new URAX had $1 million in AUM on Friday. CRBX will be designed to track the KraneShares Global Carbon Strategy ETF (KRBN). KRBN debuted four years ago and had $344 million in AUM as of Friday. COPZ will be designed to track the Global X Copper Miners ETF (COPX). COPX debuted in 2010 and had $2.58 billion in AUM as of Friday. LITX will be designed to track the Global X Lithium & Battery Tech ETF (LIT). LIT debuted in 2010 and had $1.52 billion in AUM as of Friday. TANX will be designed to track the Invesco Solar ETF (TAN). TAN debuted in 2008 and had $1.141 billion in AUM as of Friday. Jablonski lays claim to URAX being "the first leveraged ETF in uranium." "This ETF reflects our commitment to providing investors with innovative opportunities to capitalize on emerging trends and disruptive technologies," Jablonski states. "With URAX, traders can now leverage the potential of nuclear energy." For URAX (and for TANX, LITX, COPX, and CRBX), other service providers will include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; Sullivan & Worcester LLP as counsel; Tidal ETF Services LLC as administrator; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as fund accountant, subadministrator, and transfer agent; and U.S. Bank National Association as custodian. Printed from: MFWire.com/story.asp?s=67472 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |