Defiance Launches MRNX: The First Daily 2X Long ETF for Moderna, Inc.
MIAMI, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Defiance ETFs today announced the launch of the Defiance Daily Target 2X Long MRNA ETF (MRNX), expanding its lineup of single-stock leveraged ETFs designed for active traders seeking amplified exposure to innovative companies at the forefront of biotechnology and life sciences.
MRNX is designed for traders seeking magnified, short-term bullish exposure to Moderna, Inc. (NASDAQ:MRNA), a biotechnology company known for its messenger RNA (mRNA)–based medicines and vaccine development platform. By seeking to deliver 200% of the daily percentage change in the share price of Moderna, Inc., the Fund allows investors to express tactical upside views on MRNA within the accessibility and transparency of an exchange-traded fund.
Investment Objective
The Fund seeks daily investment results, before fees and expenses, of two times (200%) the daily percentage change in the share price of Moderna, Inc. (NASDAQ:MRNA). The Fund does not seek to achieve its stated investment objective for a period other than a single trading day.
Underlying Stock: Moderna, Inc.
Moderna, Inc. is a biotechnology company focused on the discovery, development, and commercialization of medicines based on messenger RNA technology. The company's platform enables the design of mRNA-based therapeutics and vaccines across a range of disease areas, including infectious diseases and other unmet medical needs. Moderna, Inc. is listed on the Nasdaq Stock Market and is classified within the biotechnology industry.
An investment in the ETF is not a direct investment in Moderna, 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 (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. The Fund pursues daily leveraged investment objectives, which means it is riskier than alternatives that do not use leverage. The Fund magnifies the performance of the Underlying Security and is designed strictly for short-term use. For periods longer than a single day, the Fund's performance will be the result of compounded daily returns, which is very likely to differ from 200% of the return of MRNA over the same period. It is possible that investors could lose their entire principal within a single trading day.
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 its investment.
MRNA Price Decline Risk. As part of the Fund's leveraged investment strategy, the Fund enters into swap agreements and options contracts based on the share price of Moderna, Inc. (NASDAQ:MRNA) (the "Underlying Security"). This strategy subjects the Fund to certain of the same risks as if it owned shares of the Underlying Security, even though it does not. By virtue of the Fund's indirect 2X exposure to changes in the share price of the Underlying Security, the Fund is subject to the risk that the Underlying Security's share price declines. If the share price of the Underlying Security decreases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks:
Indirect Investment in MRNA Risk. Moderna, 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. Moderna, Inc. has no obligation to consider the Fund or its shareholders in taking any corporate actions that might affect the value of Fund shares.
MRNA Poor Performance Risk. The market value of Moderna, Inc. may decline if the company fails to meet its business or clinical development expectations, experiences setbacks in research or regulatory approvals, faces competitive pressures in the biotechnology industry, or is impacted by broader market, economic, or healthcare policy developments. Adverse developments specific to Moderna, Inc. or the biotechnology sector could negatively impact the Fund's performance.
Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment that diversifies risk or tracks the market generally. The Fund's value may fluctuate more sharply in response to events affecting Moderna, Inc. than funds that invest in a broader range of issuers.
Compounding and Market Volatility Risk. The Fund's performance for periods greater 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.
Daily Correlation and Tracking Risk. There is no guarantee that the Fund will achieve a high degree of correlation with 200% of the daily performance of Moderna, Inc. Market disruptions, extreme volatility, liquidity constraints, or limitations in the availability of derivatives may cause the Fund's performance to deviate from its daily leveraged investment objective.
Derivatives Risk. The Fund's use of swap agreements and options contracts involves risks different from, and potentially greater than, those associated with direct investments in securities. These risks include increased volatility, imperfect correlation with the Underlying Security, liquidity constraints, valuation challenges, and the potential for losses exceeding the amount initially invested.
Counterparty Risk. The Fund is subject to counterparty risk due to its use of derivatives. If a counterparty to a swap agreement or other derivative instrument fails to meet its contractual obligations, the Fund may experience losses, delays in recovering assets, or reduced exposure, which could negatively impact its performance.
Rebalancing Risk. The Fund seeks to rebalance its exposure daily to maintain its target leveraged exposure. If the Fund is unable to rebalance properly or in a timely manner due to market conditions, operational issues, or regulatory constraints, the Fund's exposure may differ materially from its intended objective, increasing risk and potential losses.
Non-Diversification Risk. The Fund is classified as non-diversified and may invest a greater percentage of its assets in a single issuer than a diversified fund. As a result, the Fund may be more sensitive to adverse economic, regulatory, or market developments affecting Moderna, Inc.
High Portfolio Turnover Risk. Daily rebalancing of the Fund's holdings is expected to result in high portfolio turnover, which may increase transaction costs and potentially result in higher taxable distributions for shareholders.
Liquidity Risk. During periods of market stress or volatility, certain financial instruments held by the Fund may become less liquid, making it difficult to adjust exposure or meet the Fund's investment objective. Reduced liquidity may also result in wider bid-ask spreads and increased trading costs for investors.
New Fund Risk. The Fund is recently organized and has a limited operating history. As a result, there is limited performance history upon which investors can evaluate the Fund's ability to achieve its investment objective.
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/1e9e70c3-69cf-4b98-9f53-7b51b6bc76e7
