Investment objective & strategy
As of May 16, 2025 · prospectusObjective. The Defiance Quantum ETF (the Fund or the Quantum ETF) seeks to track the total return performance, before fees and expenses, of the BlueStar Quantum Computing and Machine Learning Index (the Index).
Strategy. Companies identified by BlueStars screening process are then screened for investibility, including minimum liquidity thresholds and a minimum market capitalization of (i) US$150 million for companies that derive at least 50% of their annual revenue or operating activity from machine learning-related products or activities and (ii) US$100 million for companies that derive at least 50% of their annual revenue or operating activity from quantum computing-related products or activities. Companies identified by BlueStars screening process are then screened for investibility, including minimum liquidity thresholds and a minimum market capitalization of (i) US$150 million for companies that derive at least 50% of their annual revenue or operating activity from machine learning-related products or activities and (ii) US$100 million for companies that derive at least 50% of their annual revenue or operating activity from quantum computing-related products or activities.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Mount Vernon Liquid Assets Portfolio, LLC | — | $153.06M | 4.70% |
| TERADYNE INC | — | $61.14M | 1.88% |
| TOWER SEMICONDCT | — | $58.36M | 1.79% |
| MKS INSTRUMENTS INC | — | $57.59M | 1.77% |
| STMicroelectronics N.V. SPON ADR EACH REP 1 ORD SHS | STM | $55.23M | 1.70% |
| Nokia Oyj ADR | NOK | $54.39M | 1.67% |
| LOCKHEED MARTIN CORP | — | $54.34M | 1.67% |
| MICRON TECHNOLOGY INC | — | $53.90M | 1.66% |
| ORANGE | — | $53.86M | 1.65% |
| COHERENT CORP | — | $53.76M | 1.65% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Technology Fund · RYTIX, RYTAX, RYTHX, RYCHX | 34% | 1.40% |
| Technology Fund | 33% | 1.73% |
| Electronics Fund | 32% | 1.73% |
Advisers
| Firm | Role |
|---|---|
| Penserra Capital Management LLC | Sub-adviser |
| Defiance ETFs LLC | Adviser |
Footnotes
- Expense ratio as of April 30, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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