At a glance
HIMZ charges 1.33% a year. It has $51.3M in assets.
The short version
Defiance Daily Target 2X Long HIMS ETF (HIMZ) uses swaps and options to aim for twice the daily move in Hims & Hers Health (HIMS) shares, and it resets its leverage every trading day. It is a leveraged bet on a single stock with a 1.33% expense ratio. It fell 62.2% from its July 6, 2026 peak to October 26, 2026. It is built for short-term traders, not buy-and-hold investors.
Price history
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HIMZ — over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| HIMZ price data to Oct 27, 2026 | -37.1% | — | — | — | — | — |
- The deepest fall in its price history was 62.2% (Jul 6, 2026 to Oct 26, 2026), not yet recovered.
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jul 31, 2026, the fund held 1 securities; the ten largest made up 11.56% of assets, and 10.26% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 11.56% |
By country
United States 11.56%By asset type
Bonds and notes 11.56%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $103.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -15.53%, +62.32%, -43.65%.
How it works
HIMZ does not track an index or pick stocks. It is an actively managed ETF with one goal: to deliver, before fees, 200% of HIMS's percentage change from one market close to the next. It gets that leverage mainly through swap agreements with banks. A swap is a contract in which the bank pays the fund the return on a set dollar amount of HIMS stock. The fund may also buy short-dated in-the-money call options, which are contracts that gain value as HIMS rises. The prospectus says options are less efficient than swaps. The fund does not own HIMS shares, so holders get no voting rights.
Between 40% and 60% of assets back these contracts as collateral. That collateral sits in Treasury bills, money market funds and similar short-term debt. As of July 31, 2026, a Treasury bill made up 11.6% of the fund and cash 10.3%, alongside swaps with several banks, including BMO.
Each day the manager rebalances to get back to about 200% exposure. Because of this daily reset, returns over longer periods compound and will very likely differ from twice HIMS's return. If HIMS ends flat but swings along the way, the fund loses money. It can lose money even when HIMS rises. All that trading produced a portfolio turnover rate of 33,431%, according to the prospectus filed August 26, 2026.
What it really costs
- HIMZ charges 1.33% a year.
- Of that, 1.29% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $135 in the first year and $1,601 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| HIMZ | $135 | $421 | $729 | $1,601 |
In a retirement portfolio
It aims for twice the daily move of one stock and resets every day, and its prospectus says investors should not hold it unmonitored for longer than a single trading day.
HIMZ launched on March 12, 2025, so it has no record through the 2008, 2020 or 2022 downturns and no full calendar year of price history. Its short record is still severe. Its deepest drop was 62.2%, from July 6 to October 26, 2026, and it had not recovered as of October 27, 2026. It also lost 32.8% in the three months to that date. A retiree forced to sell after a drop like that would lock in the loss. Because of the daily reset, a rebound in HIMS does not guarantee a rebound in the fund. HIMZ paid no income in the 12 months to October 27, 2026, and its 1.33% expense ratio is high. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders who want twice the one-day move in Hims & Hers shares and can check their positions every trading day.
- Short-term speculators who can accept losses like the fund's 62.2% drop between July 6 and October 26, 2026.
- Traders who want leveraged HIMS exposure through an exchange-listed fund instead of a margin account or trading options themselves.
Look elsewhere if
- Retirees and long-term investors: daily resets mean returns over weeks or months can differ sharply from twice HIMS's return.
- Investors who want diversification: all exposure is tied to one company, which the prospectus says is under FTC investigation.
- Investors focused on cost or income: it charges 1.33% a year and paid nothing in the 12 months to October 27, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Is HIMZ a good long-term investment?
HIMZ is not designed for long-term holding. Its prospectus says it seeks twice HIMS's return for a single trading day only. It warns investors not to hold shares unmonitored for longer than that. Because the leverage resets daily, returns compound and can drift far from twice HIMS's performance. The fund fell 62.2% from July 6 to October 26, 2026, and had not recovered as of October 27, 2026.
Does HIMZ own Hims & Hers stock?
No. HIMZ gets its exposure through swap agreements with banks and, at times, listed call options tied to HIMS's share price. As of July 31, 2026, its reported holdings were a US Treasury bill (11.6% of the fund), cash (10.3%) and swaps with several banks, including BMO. The bills and cash serve as collateral. Because the fund doesn't hold the shares, its investors have no voting rights in HIMS.
Why can HIMZ lose money when HIMS goes up?
The daily reset and compounding cause it. HIMZ resets to 2x exposure every day, so each day's gain or loss builds on a new starting point. When the stock swings up and down, losses on down days hurt more than gains on up days help, and the fund's value wears away. The prospectus says the fund will lose money if HIMS is flat over time and may lose money even when HIMS rises. Fees and financing costs add to the drag.
HIMZ vs HIMS stock: what's the difference?
Owning HIMS means holding the company's shares, so your gains and losses match the stock. HIMZ aims for twice HIMS's daily move using derivatives. It charges a 1.33% expense ratio and resets daily, so over longer periods its returns can differ widely from twice the stock's. Its beta was 5.71 as of October 27, 2026. Beta measures how much a fund moves with the broad market, so this means it swung far more than the market. No similar funds were identified for comparison.
What is the HIMZ expense ratio and does it pay dividends?
HIMZ's expense ratio is 1.33%, including a 1.29% management fee, according to its prospectus filed August 26, 2026. In the SEC's standard example, $10,000 earning 5% a year would cost about $135 after one year, $421 after three, $729 after five and $1,601 after ten. The fund paid no distributions in the 12 months to October 27, 2026, so it is not a source of income.