Defiance ETFs Launches OKLS: The First 2X Short ETF of Oklo Inc.

MIAMI, Nov. 26, 2025 (GLOBE NEWSWIRE) -- Defiance ETFs is proud to announce the launch of the Defiance Daily Target 2X Short OKLO ETF (Ticker: OKLS), expanding its lineup of innovative single-stock leveraged ETFs designed for sophisticated traders seeking precision tools for short-term market expression.

Investment Objective

The Fund seeks daily inverse investment results, before fees and expenses, of -2 times (-200%) the daily percentage change in the share price of Oklo Inc. (NYSE:OKLO). The Fund does not seek to achieve its stated investment objective for a period other than a single trading day.



Underlying Stock: Oklo Inc.

Oklo Inc. is a developer of advanced nuclear fission power modules, pursuing next-generation microreactor designs aimed at delivering reliable, clean energy. The company's potential growth is tied to regulatory progress, government and utility partnerships, site licensing achievements, demonstration reactor deployment, and broader momentum in global decarbonization efforts.

An investment in OKLS is not an investment in Oklo Inc.



The 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 inverse (-2X) investment results, understand the risks associated with the use of leverage and derivatives, 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. The Fund pursues daily leveraged inverse investment objectives, which means it is riskier than alternatives that do not use leverage. The Fund magnifies the inverse performance of the Underlying Security—Oklo Inc.—and is designed strictly for short-term use. Because the Fund resets its exposure daily, its performance for periods longer than a single trading day will be the result of compounded daily returns, which will very likely differ from –200% of the return of OKLO over the same period. In periods of elevated volatility, the effects of compounding may be particularly pronounced.

IMPORTANT DISCLOSURES



Defiance ETFs LLC is the ETF sponsor. The Fund's investment adviser is Tidal Investments LLC ("Tidal" or the "Adviser").



The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and/or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.



Investing involves risk. Principal loss is possible. As an ETF, the Fund may trade at a premium or discount to NAV. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single issuer may be subject to a higher degree of risk. There is no guarantee the Fund's strategy will be properly implemented, and an investor may lose some or all of their investment.

OKLO Price Appreciation Risk. As part of the Fund's inverse investment strategy, the Fund enters into swap contracts and options contracts based on the share price of Oklo Inc. ("OKLO") common stock (the "Underlying Security"). This strategy subjects the Fund to certain of the same risks as if it shorted shares of the Underlying Security, even though it does not. By virtue of its indirect -2X exposure to the Underlying Security, the Fund is subject to the risk that the Underlying Security's share price increases. If the share price of OKLO rises, the Fund will likely lose value and may suffer significant losses, including the possible loss of the entire principal amount within a single trading day.

Indirect Investment in OKLO Risk. Oklo Inc. is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. OKLO has no obligation to consider the Fund or its shareholders in taking any corporate actions that might affect the value of Fund shares. Investors in the Fund will not have voting rights, dividend rights, or any other rights with respect to the Underlying Security.

OKLO Good Performance Risk. The market value of Oklo Inc. may increase if the company meets or exceeds its publicly stated milestones. OKLO's share price may benefit from successful regulatory approvals, progress in demonstration reactor deployment, energy utility partnerships, favorable trends toward clean energy, or positive analyst coverage. These developments may cause the Underlying Security to appreciate and may result in substantial losses to the Fund.

Industry Recognition and Analyst Coverage Risk. Positive recognition from industry analysts, awards, upgrades, or favorable forecasts may increase OKLO's reputation and credibility among investors. Such developments may encourage investor enthusiasm and contribute to increases in OKLO's stock price, which would adversely impact the Fund.

Single Issuer Risk. Because the Fund focuses on a single underlying company, issuer-specific events may cause an investment in the Fund to be more volatile than a diversified investment or the market generally. The Fund may experience significantly larger fluctuations in value than a diversified portfolio and may perform differently than such investments.

Compounding and Market Volatility Risk. The Fund's performance for periods longer than a trading day will be the result of each day's returns compounded over the period, which is likely to differ from -200% of the Underlying Security's performance. Compounding has a significant impact on inverse leveraged funds, especially in periods of high volatility. At higher volatility levels, investors may experience large or complete losses even if the Underlying Security is flat over the longer period.

Daily Correlation/Tracking Risk. There is no guarantee that the Fund will achieve a high degree of inverse correlation to the Underlying Security. Market disruptions, regulatory restrictions, valuation challenges, or volatility near the close of trading may prevent the Fund from rebalancing its portfolio appropriately or meeting its daily investment objective.

Leverage Risk. The Fund will seek -2X inverse exposure through financial instruments, which exposes the Fund to the risk that increases in the value of the Underlying Security will be magnified. Leverage increases volatility and may result in losses greater than the Underlying Security's gain on any given day.

Short Sale Exposure Risk. The Fund's use of financial instruments to obtain inverse exposure subjects it to certain risks associated with short selling, including increased volatility, decreased liquidity, or limitations in obtaining the necessary instruments. These conditions may limit the Fund's ability to achieve its investment objective.

Counterparty Risk. Because the Fund obtains inverse exposure through derivatives, it is exposed to the risk that the counterparty to those instruments may be unwilling or unable to fulfill its financial obligations.

Derivatives Risk. The Fund's investments in derivatives may pose risks in addition to, and greater than, investing directly in securities, including risks related to leverage, imperfect correlation with the Underlying Security, liquidity, volatility, valuation, counterparty exposure, and legal or regulatory limitations.

Swap Agreements. Swap transactions involve specialized risks different from traditional securities investing. These risks may prevent the Fund from achieving its leveraged objective, even if the Underlying Security reverses its movement.

Options Contracts. Options involve unique risks, including sensitivity to changes in the value and volatility of the Underlying Security. Option prices may be influenced by anticipated changes in the value of the Underlying Security and broader economic or market events.

Rebalancing Risk. If the Fund is unable to rebalance its portfolio or if rebalancing is performed incorrectly, the Fund's exposure may not match its daily investment objective.

Non-Diversification Risk. As a non-diversified fund, the Fund may invest a greater percentage of its assets in the securities of a single issuer. Poor performance of that issuer may cause the Fund's overall value to decline more than a diversified fund.

High Portfolio Turnover Risk. Daily rebalancing pursuant to the Fund's investment objective results in high portfolio turnover, which may increase transaction costs and tax consequences.

Liquidity Risk. Some securities or instruments held by the Fund may be illiquid or difficult to sell, particularly during market turmoil, regulatory intervention, or other extraordinary events. Reduced liquidity may impair the Fund's ability to meet its investment objective.

New Fund Risk. The Fund is newly organized with a limited operating history, providing investors with minimal historical information on which to evaluate performance.

Diversification does not ensure a profit nor protect against loss in a declining market. Brokerage commissions may be charged on trades.

Distributed by Foreside Fund Services, LLC



Media Contact:

Sylvia Jablonski

[email protected]

833.333.9383

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eac421a8-e3fa-41f8-bd5e-cf59c4daa27e