STSM ETF — Defiance Daily Target 2X Short TSM ETF

Defiance Daily Target 2X Short TSM ETF (STSM)

Updated October 16, 2026.

STSM is an ETF linked to Taiwan Semiconductor Manufacturing (TSM). its expense ratio is 1.30%. Total return is -71.2% over the past 0.9 years, 121.1 points behind TSM at 49.9%.

Defiance Daily Target 2X Short TSM ETF is an actively managed fund that seeks to deliver twice the inverse daily performance of Taiwan Semiconductor Manufacturing Company's stock through derivatives such as swaps and options; it is non-diversified and designed for short-term tactical trading rather than buy-and-hold investing. The fund carries a 1.30% expense ratio and does not make regular distributions. This fund is intended for experienced traders seeking leveraged short exposure to TSM on a daily basis, not for long-term income or passive investors.

STSM performance versus TSM

Price and return data through 2026-10-16.

Total return is -71.2% over the past 0.9 years, 121.1 points behind TSM at 49.9%. Its deepest 1-year drawdown was 79.5%.

STSM key facts

Issuer

Defiance ETFs

Asset type

ETF

Asset class

Equity

Inception date

11/17/2025

Expense ratio

1.30%

Distribution frequency

None

Last close

$35.42 (as of 2026-10-16)

AUM

$1,133,642

Average volume

3188.0

Beta

-4.3747

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Defiance ETFs or company page; Index: Taiwan Semiconductor Manufacturing (TSM); prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

STSM risks and drawbacks

Total return has trailed TSM over the available window. The deepest 1-year drawdown on record here is 79.5%.

Who may consider STSM — and who may not

It is a weaker fit for investors who need monthly cash flow (STSM does not currently distribute); investors whose main goal is matching TSM total return. This is educational context, not a recommendation to buy or sell.

More on STSM

• All tickers starting with S

Tagged: Leverage, Short.

Frequently asked questions

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