** Defiance Launches $IWMY, the Only ETF to Utilize Daily Options on the Russell 2000 for Enhanced Income. Paid Monthly1.

Defiance ETFs, a pioneer in thematic and income ETFs, proudly introduces IWMY, the Defiance R2000 Enhanced Options Income ETF. IWMY, an actively managed put-write ETF, harnesses the power of daily options to help augment income, distributed on a monthly basis¹, on the Russell 2000 index.

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Defiance Launches $IWMY, the Only ETF to Utilize Daily Options on the Russell 2000 for Enhanced Income. Paid Monthly. (Graphic: Business Wire)

"IWMY has the potential to reshape the Russell 2000 options income strategies within the ETF landscape, offering investors a new paradigm for income generation." - Sylvia Jablonski, CEO of Defiance ETFs.

As the latest addition to Defiance's portfolio, IWMY complements the suite of enhanced income options ETFs, now encompassing the most prominent indexes offering daily options, including the Nasdaq 100 Enhanced Option Income ETF (QQQY), the S&P 500 Enhanced Option Income ETF (JEPY), and the R2000 Enhanced Options Income ETF (IWMY). This strategic expansion reinforces Defiance ETFs' commitment to delivering innovative financial solutions to investors seeking income enhancement opportunities.

Key Features of IWMY:

1. Daily Options: IWMY utilizes daily options to help maximize income potential, providing investors with the potential to enhance their income stream.
2. Monthly Payout¹: Investors can enjoy the benefits of a regular monthly income stream, offering stability and predictability.
3. Russell 2000 Focus: IWMY's strategy centers on the Russell 2000, one of the most recognized and widely followed indices in the financial world.

For more information about IWMY, please visit www.DefianceETFs.com/IWMY.

**About Defiance ETFs**

Founded in 2018, Defiance stands as a leading ETF sponsor dedicated to income and thematic investing. Our actively managed options ETFs are designed to enhance income while our suite of first-mover thematic ETFs empower investors to express targeted views on dynamic sectors leading the way in disruptive innovations, including artificial intelligence, machine learning, quantum computing, 5G, hydrogen energy, and electric vehicles.

^1. The fund intends to pay Distributions, if any, on a monthly basis.

“Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call 833.333.9383. Read the prospectus or summary prospectus carefully before investing.”

Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

Index Overview: The Russell 2000 Index is a widely recognized benchmark index that tracks the performance of approximately 2000 small-cap companies in the United States. These are the smallest companies listed in the Russell 3000 Index, representing about 10% of that index’s total market capitalization.

Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, the Sub-Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

Index Trading Risk. The trading price of the Index may be highly volatile and could continue to be subject to wide fluctuations in response to various factors. The stock market in general has experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of companies.

Russell 2000 Index Risks: The Index, which includes a broad swath of large U.S. companies, is primarily exposed to overall economic and market conditions. Recession, inflation, and changes in interest rates can significantly impact the index’s performance. Furthermore, despite its diverse representation, a downturn in a major sector such as technology or financials could notably affect the index. Geopolitical risks and unexpected global events, like pandemics, can introduce volatility and uncertainty.

Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

Price Participation Risk. The Fund employs an investment strategy that includes the sale of in-the-money put option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the Index over the Call Period (typically, one day, but may range up to one week). This means that if the Index experiences an increase in value above the strike price of the sold put options during a Call Period, the Fund will likely not experience that increase to the same extent and may significantly underperform the Index over the Call Period. Additionally, because the Fund is limited in the degree to which it will participate in increases in value experienced by the Index over each Call Period, but has full exposure to any decreases in value experienced by the Index over the Call Period, the NAV of the Fund may decrease over any given time period.

Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current monthly income. There is no assurance that the Fund will make a distribution in any given month. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil. This risk is greater for the Fund as it will hold options contracts on a single security, and not a broader range of options contracts.

Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing strategy will impact the extent that the Fund participates in the positive price returns of the Index and, in turn, the Fund’s returns, both during the term of the sold put options and over longer time periods.

Disclosures: Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Toroso Investments, LLC (“Toroso” or the “Adviser”). The Fund Administrator is Tidal ETF Services LLC. The investment sub-adviser is ZEGA Financial, LLC (“ZEGA” or the “Sub-Adviser”).

IWMY is distributed by Foreside Fund Services, LLC.

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Defiance Launches $IWMY, the Only ETF to Utilize Daily Options on the Russell 2000 for Enhanced Income. Paid Monthly.