Defiance files Convexity ETFs targeting growth stocks, DRAM, and semis
As seen on the 24/7 Wall St. homepage on September 30, 2026.
Defiance is aiming leveraged-style convexity products straight at memory chips and semis, the two hottest and most violently volatile corners of the AI trade.
Defiance has filed for some Convexity and Ultra Convexity ETFs based on growth stocks, $DRAM and semis https://t.co/J7I369ua92
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Defiance has submitted filings for a pair of new products called Convexity and Ultra Convexity ETFs, built around growth stocks, DRAM memory chips, and semiconductors. The Ultra designation signals an amplified-exposure structure, layering additional risk on top of an already volatile set of underlying assets.
Memory chips and semiconductors sit at the sharpest edge of the AI infrastructure trade, where price swings in either direction tend to be outsized. Packaging leveraged-style convexity around those names concentrates both the upside and the downside into a single wrapper, which is precisely what the product names advertise.
Bloomberg Intelligence ETF analyst Eric Balchunas flagged the filings on September 30, drawing replies almost immediately from traders already watching this corner of the market.
For investors already holding semiconductor or memory exposure, these funds represent a more aggressive alternative in the same theme. For those on the sidelines of the AI hardware trade, the filings are a marker of how far product issuers believe retail appetite for leveraged tech exposure has grown.