CERZ — Defiance Daily Target 2X Short CBRS ETF
Data updated: 2026-09-04
CERZ — Defiance Daily Target 2X Short CBRS ETF. Leveraged · 1.31% expense ratio. Holdings, fees, performance and SEC filings.
CERZ Fund Overview
CERZ — Defiance Daily Target 2X Short CBRS ETF is a US ETF managed by Tidal Trust II, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Tidal Trust II
- Category: Leveraged
- Ticker: CERZ
- SEC CIK: 0001924868
- SEC series ID: S000106009
- Share class ID: C000276832
CERZ Investment Objective and Strategy
Defiance Daily Target 2X Short CBRS ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Tidal Trust II.
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 Cerebras Systems Inc. (Nasdaq: CBRS). The Fund does not seek to achieve its stated investment objective for a period other than a single trading day.
Principal investment strategy
The Fund is an actively managed exchange traded fund that attempts to achieve 2 times the inverse (-200%) of the daily percentage change in the price of the Underlying Security by employing derivatives, namely swap agreements and/or listed options contracts. The Fund aims to generate 2 times the inverse of the daily performance of the Underlying Security for a single day, and not for any other period. A “single day” is defined as being calculated “from the close of regular trading on one trading day to the close on the next trading day.” The Fund is classified as “non-diversified” under the 1940 Act. If the Fund encounters limitations in implementing its strategies, whether due to market conditions, derivative availability, counterparty issues, or other factors, the Fund may not achieve investment results, before fees and expenses, that correspond to 2 times the inverse (-2x) the daily performance of the Underlying Security, and may return substantially less during such periods.
During such periods, the Fund’s actual leverage levels may differ substantially from its intended target, both intraday and at the close of trading, potentially resulting in significantly lower returns. The Fund may enter into swap agreements as a substitute for directly shorting the Underlying Security. The Fund will enter into one or more swap agreements with major financial institutions for a specified period ranging from one day to more than one year whereby the Fund and the financial institution will agree to exchange the return (or differentials in rates of return) earned or realized on the Underlying Security. The gross return (meaning the return before deducting any fees or expenses) to be exchanged or “swapped” between the parties is calculated with respect to a “notional amount,” (meaning the face amount of the instrument) e.g., the return on or change in value of a particular dollar amount representing the Underlying Security.
At the end of each day, the Fund’s swaps are valued us
CERZ Costs and Fees
CERZ costs about $131 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.31%
- Gross expense ratio: 1.31%
CERZ Debt Constituents
No individual debt constituents are reported in Defiance Daily Target 2X Short CBRS ETF's latest SEC N-PORT filing.
CERZ Prospectus and SEC Filings
Official Defiance Daily Target 2X Short CBRS ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Leveraged funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.