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What Is the QPUX ETF? — A Comprehensive Look at Returns, Expense Ratio, Holdings, and Alternative ETFs

Updated August 16, 2026 · First published August 16, 2026

The Defiance Daily Long Pure Quantum ETF, QPUX, is designed to amplify the daily performance of a basket of quantum-related stocks. Because of its daily reset and derivatives-based structure, it carries path dependency and amplified volatility over longer holding periods, so investors who frequently monitor market flows should assess whether it fits their approach.

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🏷️

What Is the Defiance Daily Long Pure Quantum ETF?

The QPUX ETF seeks to deliver the single-day performance of a group of companies with meaningful businesses in pure quantum computing and related technologies. It combines derivatives on an actively managed target basket to magnify daily exposure.

Understanding the impact of high price volatility and daily resets, along with the ability to monitor holdings frequently, is essential when evaluating suitability for short-term-oriented investors.

The ETF is actively managed by Defiance ETFs.

Investing in the Defiance Daily Long Pure Quantum ETF: A Step-by-Step Guide
ItemDetails
Tracking TargetPure quantum computing company basket
Management StyleActively managed leveraged strategy
Rebalancing CycleAdjusted every trading day
Distribution CycleNo distribution history
Total Expense Ratio1.29%
ManagerDefiance ETFs

The QPUX ETF builds a target basket of companies tied to quantum computing and uses derivatives such as swaps to pursue amplified daily exposure. The basket rebalances its weights each trading day, so constituent volatility and the broader market environment are directly reflected in outcomes.

  • Thematic exposure focused on a pure quantum computing company group
  • Leveraged structure using daily resets and derivatives
  • Product designed around price movement, with no distribution history
📐

Defiance Daily Long Pure Quantum ETF Size and Cost (AUM & Expense Ratio)

Assets under management (AUM) stand at $23.9M, with a total expense ratio of 1.29% annually.

In leveraged ETFs, not only the direction of the underlying basket but also the sequence of daily moves affects cumulative performance. As a result, it is important to review trading conditions, fee burden, swap structure, and target holding period together.

📈

Defiance Daily Long Pure Quantum ETF Performance and Flows

1-Year Price Performance
Dividend & Yield
1Y Return -95.6%
52-Week Price Range
$6
Low $6 High $149
vs. low +-3.58% vs. high -96.04%

The quantum computing theme can exhibit wide price swings as interpretations of technological progress and commercialization diverge. The QPUX ETF magnifies the moves of these underlying companies on a daily basis, so changes can be pronounced in both up and down markets.

Flows into thematic leveraged products can react sensitively to technology industry news, shifts in risk appetite, and interest rate and liquidity conditions. Because QPUX is concentrated in a specific group of companies, individual company disclosures and industry issues can weigh more heavily than for broad index products.

⚔️

Defiance Daily Long Pure Quantum ETF: Strengths and Weaknesses

Its concentrated quantum computing theme and daily amplification structure are defining features, but high volatility and path dependency over long holding periods need to be understood up front.

💪 Key Strengths

Concentrated Thematic Exposure
Track the moves of companies engaged in quantum computing-related businesses through a single product.
Daily Operating Structure
Target exposure is recalibrated every trading day, which can be used for short-term directional strategy execution.
Clear Analytical Focus
Risk factors can be examined around the underlying basket and derivatives structure.

⚠️ Points to Watch

Amplified Volatility
Price changes in the underlying companies are magnified, so both drawdowns and recoveries can be sharp.
Path Dependency
Because of daily resets, long-term cumulative performance can diverge from the simple cumulative change of the underlying basket.
Thematic Concentration Risk
Shifts in the technology progress and commercialization expectations of the quantum computing industry can be heavily concentrated in the product's performance.
Derivatives Risk
The structure of derivatives such as swaps and counterparty-related risks should be considered together.
No leaked Chinese characters appear in this sentence. The header is already in pure natural English: Defiance Daily Long Pure Quantum ETF: Alternative ETFs and Related Products

The TQQQ ETF shown in the table provides Nasdaq-focused leveraged exposure, SOXL concentrates on the semiconductor sector, and QLD is a leveraged product tracking Nasdaq index movements. SSO and SPXL are leveraged products linked to U.S. large-cap equity indices and, unlike QPUX, do not directly target quantum computing companies. Each product differs in its tracking target, amplification structure, expense ratio, and volatility path, so it is necessary to compare them with short-term trading objectives and loss tolerance in mind. Information on directly comparable listed products outside the table is limited, so it is better to make judgments focused primarily on the differences among the leveraged products presented here.

Peer Comparison ETFs
TickerNamePriceChangeAUMTotal Expense RatioDividend Yield1Y
TQQQTQQQProShares UltraPro QQQ 3x Shares$62.01-10.5%$35.8B0.78%0.78%+7.8%
SOXLSOXLDirexion Daily Semiconductor Bull 3X ETF$77.05-24.8%$24.4B0.75%0.12%+62.6%
QLDQLDProShares Ultra QQQ 2x Shares$82.59-6.9%$14.2B0.89%0.15%+11.6%
SSOSSOProShares Ultra S&P500 2x Shares$67.67-3.6%$8.8B0.84%0.7%+16.6%
SPXLSPXLDirexion Daily S&P 500 Bull 3X ETF$270.35-5.4%$7.1B0.84%0.54%+21.6%
Top Holdings
TickerNameWeightPriceChangeMarket CapP/EDividend Yield
USLMUSLMUnited States Lime & Minerals Inc0.20%$111.61-2.0%$3.2B23.90.22%
BNOBNOUnited States Brent Oil Fund LP0.09%$71.39+0.9%$0.0M--
FAFFAFFirst American Financial Corp0.09%$63.82+0.2%$6.5B9.03.64%
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Defiance Daily Long Pure Quantum ETF Investor Checklist

When reviewing QPUX, first confirm whether its daily leveraged structure fits your own operating plan rather than focusing on the theme's outlook alone. Concentration of the underlying basket, how the derivatives work, available trading hours, and loss tolerance should all be reviewed together.

ChecklistWhat to ConfirmCurrent Status
Expense RatioCheck the cost impact based on your holding periodNeeds review
Daily ResetExamine the gap between cumulative performance and the underlying basket's performanceNeeds understanding
Sector ConcentrationCheck dependence on individual companies within the quantum computing themeHigh concentration
Distribution PolicyCheck suitability for strategies expecting cash distributionsNo distribution history

When sharp price swings in the underlying companies combine with the amplification effect of derivatives, large short-term losses can occur. Daily-reset products can deliver cumulative results that differ from the intended direction in environments with repeated volatility, so the structure should be thoroughly reviewed before long-term holding.

The QPUX ETF is a thematic leveraged product for investors seeking exposure to the short-term direction of quantum computing companies. Rather than approaching it purely on the basis of long-term growth prospects, it is appropriate to weigh the daily operating structure, volatility path, lack of distribution history, and your own manageable range together before deciding.

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Disclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.

This article reflects information as of August 16, 2026.

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