What this ETF is trying to do

The Defiance Daily Target 2x Long PM ETF (XPM) is a leveraged ETF. This means it uses financial tools to try and double the daily return of its target index. It is a "long" fund, which means it is designed to make money when the value of its target goes up.

What the numbers show

As of October 5, 2026, the share price for XPM is $18.93.

The data shows a year-to-date (YTD) price return of 0% and a YTD total return of 0%. There is no available data for one-year or three-year price and total returns. Because there is not enough verified price history, an erosion score has not been provided.

Income and distribution explanation

This ETF does not currently provide cash income to investors. The distribution yield is 0%, and there have been no payouts in the last 12 months. Because it does not pay distributions, it has an income rating grade of "F."

Portfolio Exposure

Based on data updated on October 7, 2026, the fund has one holding:

• First American Government Obligs X (FGXXX): 6.07%

Pros

• The fund is designed for investors who want a leveraged (2x) approach to their target market.

• There is currently no severe erosion-risk flag attached to this ETF.

Cons

• The fund provides no distribution yield or cash income.

• There is very little historical performance data available to review.

• Leveraged ETFs are complex and behave differently than standard ETFs.

Beginner takeaway

XPM is a leveraged fund, not an income fund. It does not pay dividends or distributions. For new investors, it is important to know that "NAV erosion" happens when the value of an ETF's underlying assets declines over time. While this fund does not have a severe erosion-risk flag, it also lacks enough history to provide a formal erosion score.

Investors often look for "principal stability," which means the original amount of money they put in stays steady. In leveraged funds, the share price can move more sharply than a normal fund, which can affect that stability.