Defiance ETFs on Wednesday said it has launched the Defiance Daily Target 2X Short LLY ETF (LLYZ), offering 2X inverse daily exposure to the performance of Eli Lilly and Company (NYSE:LLY).
Defiance says, it would enable retail investors to seek enhanced downside exposure without the need for a margin account.
Aims to deliver -200% of LLY’s daily performance, before fees and expenses.
The fund uses swaps and options to achieve leverage.
Defiance warns the fund is suitable only for knowledgeable investors who monitor portfolios actively.
