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ETF Nasdaq USD

Defiance Daily Target 2x Short MSTR ETF SMST

Issuer: Defiance SEC registrant: Tidal Trust II Derivatives-based
Watch SMST (sign in) Add to portfolio (SMST) Set an alert for SMST Compare SMST with other ETFs Position size calculator for SMST at 13.787 USD

How position sizing works
Last price 13.79 USD Change: Down −1.99 Percent change: Down −12.63%

Source: Yahoo Finance (opens in a new tab) Observed · 1 day ago Quotes may be delayed

Expense ratio
1.31%
Prospectus 29 Aug 2025
Net assets
$28.4M
As of 31 Jul 2026
Holdings
7
As of 31 Jul 2026
12-month distribution yield
Unavailable
None in 12 months
Asset class
Derivatives-based
From holdings

Defiance Daily Target 2x Short MSTR ETF (SMST) is an exchange-traded fund listed on the Nasdaq in the United States, issued by Defiance. Its category is Derivatives-based. Its last price was US$13.79 on 20 Oct 2026. Its expense ratio is 1.31% a year, from its prospectus dated 29 Aug 2025. It reported net assets of US$28.39 million as of 31 Jul 2026. Its latest holdings report lists 7 holdings as of 31 Jul 2026. No distributions are recorded for it over the last 12 months.

General information only: nothing on TakeProfits takes into account your objectives, financial situation or needs, and it isn't personal financial advice or a recommendation to buy or sell anything. Consider whether it suits you and get advice from a licensed adviser before acting. Market data may be delayed and comes from third-party sources.

Fees

Total annual operating expenses (gross)
1.31%
Net, after fee waivers or reimbursements
No waiver stated
Management fee
1.29%
Prospectus date
29 Aug 2025
Filed with the SEC
26 Aug 2025

Source: SEC prospectus risk/return data sets (opens in a new tab) Filed

Size and reporting

Net assets
$28,388,593
Total assets
$42,293,460
Holdings as of
31 Jul 2026
Report made public
28 Sep 2026 (59 days after the month end)

Net assets are for the whole fund series, which for some funds (Vanguard's, for example) also includes mutual fund share classes.

Source: SEC Form N-PORT (opens in a new tab) Filed

Top holdings

Largest 7 of 7 positions, as of 31 Jul 2026. Weight is the percent of net assets the fund reported.

SMST top holdings as of 31 Jul 2026
# Holding Identifier Weight Value (USD) Type Country Currency
1 STRATEGY INC SWAP JNST-S No identifier reported 30.16% $8.6M Equity derivatives United States USD
2 STRATEGY INC CS-S No identifier reported 29.97% $8.5M Equity derivatives United States USD
3 STRATEGY INC SWAP BMO-S No identifier reported 23.82% $6.8M Equity derivatives United States USD
4 MICROSTRATEGY INC SWAP - S- CANTOR No identifier reported 22.92% $6.5M Equity derivatives United States USD
5 TREASURY BILL United States Treasury Bill US912797TY36 7.72% $2.2M Debt United States USD
6 STRATEGY INC SWAP MAREX-S No identifier reported 1.99% $566K Equity derivatives United States USD
7 First American Government Obli First American Government Obligations Fund US31846V3362 0.74% $210K Short-term investment vehicles (cash funds) United States USD

Source: SEC Form N-PORT (opens in a new tab) Made public Holdings as of 31 Jul 2026

All 7 stored holdings

Breakdowns

Sums of reported weights over every position in the report. Totals can differ from 100% because of derivatives, borrowing and cash.

Warning: Uses derivatives

Derivative contracts in this report have a combined notional amount of 175% of net assets. The weights here show each contract's reported value, not the exposure it creates.

Asset type

Asset type by weight
TypeWeightBar
Equity derivatives 108.87%
Debt 7.72%
Short-term investment vehicles (cash funds) 0.74%

Country

Country by weight
CountryWeightBar
United States 117.33%

The country each issuer is assigned to in the report.

Currency exposure

Currency exposure by weight
CurrencyWeightBar
US dollar (USD) 117.33%

The currency each holding is denominated in. Currency hedges are not netted off, so a hedged fund still shows its holdings' currencies.

Sector

No sector data

None of this fund's holdings matched a stock listed on this site, so no sector is shown.

Partial coverage: sectors are known for 0.0% of net assets, the holdings matched by CUSIP or ticker to US stocks listed on this site. The rest is not assigned a sector.

Source: SEC Form N-PORT (opens in a new tab) Holdings as of

Distributions

No distributions in the last five years

Yahoo Finance lists no distributions for SMST since October 2021. Funds that reinvest income, and new funds, may have none.

Source: Yahoo Finance (opens in a new tab) Checked · 2 days ago Amounts are adjusted for later unit splits

Filings and sources

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IMPORTANT FINANCIAL DISCLAIMER: The information provided on this platform is for educational and informational purposes only and should not be construed as investment advice. All investments involve risk, including potential loss of principal. Past performance does not guarantee future results. Take Profits is not a registered investment advisor and does not provide personalized investment advice. Users should conduct their own research and consult with qualified financial professionals before making investment decisions. Market data may be delayed and is provided by third-party sources.

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