ETF Evaluator:
Defiance Nasdaq 100 Lightnngsprd Inc ETF ()
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(as of Aug 26)
Best Performing in Derivative Income Over the Last Year
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ETF Details
Defiance Nasdaq 100 Lightnngsprd Inc ETF Overview
Defiance Nasdaq 100 Lightnngsprd Inc ETF (QLDY) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). Defiance ETFs LLC launched the ETF in 2025.
The investment seeks to seek current income; capital appreciation.
The fund is an actively managed exchange-traded fund (“ETF”) that seeks current income and, secondarily, capital appreciation. The fund seeks to achieve its investment objectives by employing a “LightningSpread" strategy, which is designed to generate daily income that the fund manager intends to distribute twice weekly. The fund’s strategy also seeks to provide long exposure to the price return of the Nasdaq 100 index (the “index”). The fund is non-diversified.
About Defiance Nasdaq 100 Lightnngsprd Inc ETF (QLDY)
There are 1 members of the management team with an average tenure of 0.87 years: Scott Snyder (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: NASDAQ 100 TR USD index with a weighting of 100%. Defiance Nasdaq 100 Lightnngsprd Inc ETF has 8 securities in its portfolio. The top 10 holdings constitute 188.5% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Defiance Nasdaq 100 Lightnngsprd Inc ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Defiance Nasdaq 100 Lightnngsprd Inc ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 182.8% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Defiance Nasdaq 100 Lightnngsprd Inc ETF has -83.1% of the portfolio in cash.
Assets Under Management
The fund has $48 million in total assets, which is below the $727 million average for the Derivative Income category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
QLDY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Defiance Nasdaq 100 Lightnngsprd Inc ETF expense ratio is high compared to funds in the Derivative Income category. Defiance Nasdaq 100 Lightnngsprd Inc ETF has an expense ratio of 1.04%, which is 25% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Defiance Nasdaq 100 Lightnngsprd Inc ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 69% for the Derivative Income category.
Recently, in the month of July 2026, Defiance Nasdaq 100 Lightnngsprd Inc ETF returned -8.2%, which earned it a grade of F, as the Derivative Income category had an average return of -1.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Defiance Nasdaq 100 Lightnngsprd Inc ETF has a trailing yield of 0.00%, which is below the 19.96% category average.
The fund normally distributes its income none and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Defiance Nasdaq 100 Lightnngsprd Inc ETF Grades
Year to date, the ETF has returned 9.6%, 7.0 percentage points better than the category, which translates into a grade of B.
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QLDY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| QLDY Return (NAV) | -8.2% | 1.6% | na | na | na | na |
| QLDY Return (Price) | -8.3% | 1.6% | na | na | na | na |
| NAV +/- Price Return | 0.189% | 0.063% | na | na | na | na |
| Derivative Income Avg | -1.5% | 0.6% | 11.2% | 13.7% | 8.8% | 7.5% |
| QLDY Grade (NAV) | F | C | na | na | na | na |
| +/- Category (NAV) | -6.6% | 1.0% | na | na | na | na |
| QLDY Tax-Cost Ratio | na | na | na | na | na | na |
QLDY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| QLDY Return (NAV) | 9.6% | na | na | na | na | na | na | na | na | na | na |
| QLDY Return (Price) | 10.1% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.054% | na | na | na | na | na | na | na | na | na | na |
| Derivative Income Avg | 2.6% | 10.6% | 18.5% | 17.5% | -11.3% | 19.4% | 1.4% | 19.2% | -7.1% | 12.1% | 8.7% |
| QLDY Grade (NAV) | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 7.0% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 49 Mil |
| Share Class Assets: | $ 49 Mil |
| Turnover: | na |
| Expense Ratio: | 1.04% |
| Index Fund: | No |
| Index Tracked: | NASDAQ 100 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | None |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 0.9 years | |||
| Average Tenure: 0.9 years | |||
| Managers (Year): Snyder Scott (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 8 |
| % in Top 10 Holdings: | 188.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 182.8% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.3% |
| Cash: | -83.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Defiance ETFs LLC |
| Phone Number: | 866-864-3968 |
| Website: | |
| Inception Date: | September 17, 2025 |
Expenses and Fees
| Expense Ratio (%): | 1.04% (Rating: High) |
| Category Average Expense Ratio (%): | 0.83% |
