Defiance Global Foundries ETF

The First U.S.-Listed ETF Dedicated to Semiconductor Foundires

MIAMI, Sept. 10, 2026 (GLOBE NEWSWIRE) -- Defiance ETFs, a leader in thematic and income ETFs, today announced the launch of the Defiance Global Foundries ETF (Nasdaq: AIFR), the first U.S.-listed ETF* dedicated to semiconductor foundries. AIFR is designed to provide targeted exposure to the manufacturing layer of the AI buildout: the companies that fabricate the chips designed by everyone else, from leading-edge AI accelerators to the power, analog, and embedded semiconductors inside every server, vehicle, and device.

Nearly every advanced chip powering artificial intelligence is manufactured by a foundry. The companies designing AI accelerators, custom silicon, and networking chips generally do not own leading-edge fabs; they contract production to a small group of manufacturers led by Taiwan Semiconductor Manufacturing Company, which accounted for roughly 72% of global foundry revenue in the first quarter of 2026, according to TrendForce. As AI demand has broadened from GPUs into custom accelerators, networking silicon, and the power management chips built on mature nodes, capacity has tightened across the industry. The world's ten largest foundries generated a record $169.5 billion in revenue in 2025, set another quarterly record in the first quarter of 2026, and have begun signaling wafer price increases for the second half of the year. Defiance believes the companies that own this manufacturing capacity sit at the chokepoint of the AI supply chain.

"The market has spent three years pricing the companies that design chips. In 2026, the constraint moved to the companies that make them," said Sylvia Jablonski, Chief Investment Officer of Defiance ETFs. "Every AI accelerator, every custom chip, and every power management IC in a data center is manufactured at a foundry, and capacity is tight from the leading edge all the way down to mature nodes. AIFR gives investors one ticker for that layer: the pure-play fabs and the diversified giants with foundry businesses of their own."

AIFR seeks to track the MarketVector Global Foundries Index (the "Index"), which is designed to track the performance of publicly listed companies that are principally engaged in semiconductor foundry solutions and related services. The Index spans pure-play foundries that manufacture chips for other companies as well as diversified semiconductor companies with economically significant foundry businesses, selecting the ten largest eligible companies by free-float market capitalization from a global universe.

Investment Objective

The Defiance Global Foundries ETF (the "Fund") seeks to track the performance, before fees and expenses, of the MarketVector Global Foundries Index (the "Index").

Inside the Index

To be eligible for the Index, a company must derive at least 50% of its revenue from semiconductor foundry-related activities or generate at least $2.0 billion in annual revenue from those activities in its most recently completed fiscal year. The $2.0 billion threshold is designed to capture larger, diversified companies with an economically significant foundry business, even where foundry activity represents less than half of total revenue. Semiconductor foundry-related activities include:

Wafer fabrication. Manufacturing semiconductor wafers to other companies' chip designs.
Advanced, mature, and specialty nodes. Advanced-node, mature-node, and specialty-node semiconductor manufacturing.
Logic, analog, and power. Logic, analog, mixed-signal, power, radio frequency, and embedded semiconductor wafer production.
Specialty foundry services. Manufacturing for microelectromechanical systems, image sensors, photonics, display drivers, and other application-specific semiconductors.
Mask and process services. Mask, process, and manufacturing services directly tied to semiconductor wafer foundry production.
Support services. Related semiconductor foundry support services, as classified by the Index Provider.

Companies must also meet minimum size and liquidity requirements for initial inclusion, including a free float of at least 10%, a market capitalization above $1.0 billion, and a three-month average daily traded value of at least $1.0 million. The Index targets 10 constituents, ranked by free-float market capitalization, with the top eight selected automatically at each reconstitution and the remaining positions filled from current constituents ranked between nine and twelve. Constituents are weighted by free-float market capitalization, subject to a 20% cap per constituent at each rebalance, with excess weight redistributed proportionally among the remaining constituents. The Index is reconstituted and rebalanced quarterly in March, June, September, and December, with modified eligibility rules that allow qualifying IPOs and spin-offs to be added on an accelerated basis.

The Index is constructed from a global universe and is designed to provide exposure to the global semiconductor foundry industry, including meaningful exposure to issuers outside the United States. As of August 28, 2026, the Index had 10 constituents, with exposure spanning Taiwan, South Korea, the United States, Israel, and Hong Kong, and all constituents classified in the information technology sector. The Index launched on July 20, 2026, is calculated in U.S. dollars by Solactive AG, and is owned and administered by MarketVector Indexes GmbH, a Germany-based index provider.

Under normal circumstances, the Fund invests at least 80% of its net assets in investments that provide exposure to the component securities of the Index, including the securities themselves, depositary receipts, and derivative instruments such as total return swaps and listed options. The Fund generally uses a replication strategy and may also invest up to 15% of its net assets in private companies engaged in semiconductor foundry services.

Fund Details

Fund Name	Defiance Global Foundries ETF
Ticker	AIFR
Exchange	The Nasdaq Stock Market, LLC
Expense Ratio	0.71%
Index	MarketVector Global Foundries Index
Index Provider	MarketVector Indexes GmbH
Index Inception	July 20, 2026
Index Rebalance	Quarterly
Investment Adviser	Tidal Investments LLC
Fund Sponsor	Defiance ETFs, LLC
Distributor	Foreside Fund Services, LLC

About Defiance ETFs

Founded in 2018, Defiance is a leading ETF issuer specializing in thematic, income, and leveraged ETFs. Our first-mover leveraged single-stock ETFs allow investors to take amplified positions in publicly traded companies that we believe may experience future high growth, providing precise leverage exposure without the need to open a margin account.

Media Contact

Brenda Hentschel
Gregory Agency
bhentschel@gregoryagency.com
201.705.3758

IMPORTANT DISCLOSURES

Tidal Investments LLC is the Fund's investment adviser. Defiance ETFs, LLC is the Fund's sponsor. The Fund is a series of Tidal Trust V and is distributed by Foreside Fund Services, LLC.

The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and/or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.

Investing involves risk. Principal loss is possible. As an ETF, the Fund may trade at a premium or discount to NAV. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. There is no guarantee the Fund will achieve its investment objective, and an investor may lose some or all of its investment.

Concentration Risk. The Fund's investment exposure will be concentrated in the same industry or group of industries to the extent the Index is so concentrated, which may cause the value of Shares to rise and fall more than the value of shares of a fund invested across a broader range of industries. Because the Index is focused on companies engaged in semiconductor foundry activities, the Index, and consequently the Fund, is expected to be concentrated in industries within the information technology sector.

Semiconductor Industry Risk. Competitive pressures may significantly affect the financial condition of semiconductor companies, and as product cycles shorten and manufacturing capacity increases, these companies may face aggressive pricing that hampers profitability. Reduced demand for end-user products and under-utilization of manufacturing capacity could adversely affect operating results. Semiconductor companies typically face high capital costs and may be heavily dependent on intellectual property rights. The sector is highly cyclical, and stock prices have been and likely will continue to be extremely volatile.

Information Technology Sector Risk. Information technology companies face intense domestic and international competition that may adversely affect profit margins, and may have limited product lines, markets, financial resources, or personnel. Their products may face rapid obsolescence due to technological developments and frequent new product introductions. Failure to introduce new products or achieve general market acceptance could materially affect a company's business. These companies are heavily dependent on intellectual property, and the loss of patent, copyright, and trademark protections may adversely affect profitability.

Equity Market Risk. Common stocks are generally exposed to greater risk than other securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from specific issuers. The equity securities held in the Fund's portfolio may experience sudden, unpredictable drops in value or long periods of decline, because of factors affecting securities markets generally or specific issuers, industries, or sectors.

Foreign Investment Risk. Investments in foreign companies involve risks not present in domestic investments and may experience more rapid and extreme changes in value. Foreign financial markets are often less developed, efficient, or liquid than U.S. markets, so prices can be more volatile. The Fund will also be subject to adverse political and economic developments abroad, which may include the imposition of economic sanctions, and there is generally less reliable information available about non-U.S. issuers.

Currency Risk. Changes in currency exchange rates can negatively affect securities denominated in, or receiving revenues in, foreign currencies, and adverse changes relative to the U.S. dollar may erode or reverse potential gains or widen existing losses. The liquidity and trading value of foreign currencies can be affected by global economic factors and by the actions of sovereign governments and central banks.

Depositary Receipt Risk. Depositary receipts involve risks similar to those of investments in foreign securities and give rise to certain additional risks. When the Fund invests in depositary receipts as a substitute for a direct investment in the underlying shares, it is exposed to the risk that they may not provide a return corresponding precisely with that of the underlying shares.

Economic and Market Risk. Economies and financial markets worldwide are increasingly interconnected, increasing the likelihood that events in one country or region will adversely impact markets or issuers elsewhere. The Fund's holdings may underperform due to factors including inflation, interest rates, market instability, debt crises, embargoes, tariffs, sanctions, and other trade barriers, and regulatory or geopolitical events. Global events such as war, terrorism, natural disasters, country instability, and epidemics or pandemics may also negatively affect the Fund's investments.

Focused Portfolio Risk. The Fund will hold a relatively focused portfolio that may contain exposure to the securities of fewer issuers than the portfolios of other ETFs, which may increase the risk that the value of the Fund could decline because of the poor performance of one or a few investments.

Derivatives Risk. Derivatives derive their value from an underlying reference asset. The Fund's investments in derivatives may pose risks in addition to, and greater than, directly investing in securities, including imperfect correlation with underlying investments, higher price volatility, lack of availability, counterparty risk, liquidity, valuation, and legal restrictions, and may expose the Fund to losses exceeding the amounts initially invested. Options positions may expire worthless, may not move in value at the same rate as the underlying instrument, and may lack a liquid secondary market. Swap agreements trade over the counter with less transparency than exchange-traded derivatives, may not be available on terms providing the desired exposure, and, if unfunded, may create economic leverage that magnifies gains and losses.

Counterparty Risk. The Fund's investments in derivatives expose it to the risk that a counterparty will not fulfill its obligations, whether because of financial difficulties, bankruptcy, insolvency, market developments, or other reasons. A counterparty's failure to perform may result in significant financial loss, and the Fund may recover nothing, or only a limited or delayed amount. The Fund may transact with a limited number of counterparties, which increases its exposure to counterparty credit risk, and may be unable to achieve its objective if no suitable counterparties are willing to transact with it.

ETF Risks. As an ETF, the Fund is exposed to risks including a limited number of Authorized Participants, market makers, and liquidity providers; cash redemption risk, including higher capital gain distributions and brokerage costs; the costs of buying or selling Shares, including brokerage commissions and bid-ask spreads; the risk that Shares may trade at prices other than NAV, particularly during market volatility or periods of limited secondary market activity; and the risk that Shares may not trade with any volume, or at all, on any stock exchange.

Liquidity Risk. Some securities held by the Fund may be difficult to sell or illiquid, particularly during times of market turmoil, and markets may be disrupted by economic crises, natural disasters, epidemics or pandemics, or new legislation or regulatory changes. Illiquid securities may be difficult to value, and the Fund may be adversely impacted if forced to sell one at an unfavorable time or price.

Index Strategy Risk. The Fund's strategy is linked to an Index maintained by the Index Provider, which exercises complete control over the Index and may delay or add a rebalance date, adversely affecting the Fund's performance and its correlation to the Index. There is no guarantee the Index methodology will achieve its intended result, and errors in Index data, computations, or construction may go uncorrected for a period of time, or at all.

Underlying Index Risk. Neither the Adviser nor the Index Provider can guarantee the continuous availability or timeliness of the Index. Calculation and dissemination of Index values may be delayed if the facilities of the Index Provider, calculation agent, data providers, or relevant stock exchange malfunction, and a significant delay may cause trading in Shares to be suspended.

Data Risk. The composition of the Index depends heavily on information and data supplied by third parties. If that data is incorrect or incomplete, securities may be included in or excluded from the Index in error, and the Fund's portfolio can be expected to reflect those errors.

Passive Investment Risk. The Fund invests in the securities included in, or representative of, its Index regardless of their investment merit. The Fund does not attempt to outperform its Index or take defensive positions in declining markets, so its performance may be adversely affected by a general decline in the market segments relating to its Index.

Tracking Error Risk. The performance of the Fund and its Index may differ for a variety of reasons. The Fund incurs operating expenses and portfolio transaction costs not incurred by the Index, and may not be fully invested in Index securities at all times or may hold securities not included in the Index.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of its holdings as it seeks to track the Index. A high portfolio turnover rate increases transaction costs, which may increase the Fund's expenses, and may cause adverse tax consequences for investors due to an increase in short-term capital gains.

Private Company Investment Risk. The Fund may invest up to 15% of its net assets in privately issued securities of private companies, which are not registered under the Securities Act of 1933, are typically subject to legal restrictions on resale, and generally are not traded in established public markets. These investments carry risks that differ from, and often exceed, those of publicly traded securities: limited and inconsistent public disclosure, which makes evaluating an issuer's financial condition and governance difficult; no obligation on the issuer's part to register its securities or effect a liquidity event within any time frame; transfer restrictions arising from governing documents, securities laws, or other equity holders' rights; reliance on a special purpose vehicle ("SPV") sponsor for information and administration; concentration of an SPV's assets in a single underlying issuer, whose failure would cause a complete loss of that investment; and the early- or growth-stage character of many private issuers, which may never achieve a successful liquidity event. The Fund may lose all or a substantial portion of these investments.

Privately-Offered Securities Risk. Privately-offered securities are not exchange-traded, are subject to liquidity risk, may be difficult to value, may be difficult to sell because of regulatory restrictions on resale, provide fewer financial disclosures than publicly-offered securities, and may be subject to significant brokerage commissions. Where the Fund acquires privately-offered securities through an SPV, it may also bear the management and performance fees of that SPV.

IPO/SPAC/de-SPAC Risk. The Fund may invest in companies that have recently completed an IPO or that derive from a SPAC or de-SPAC business combination. These companies may be unseasoned, lacking a trading history, a track record of reporting to investors, and widely available research coverage, and are often subject to extreme price volatility and speculative trading. They may share the illiquidity risks of private equity, and share prices may face downward pressure when lock-up restrictions are released. SPAC investments carry additional risks, including dependence on the sponsor's ability to consummate a business combination and the risk that a suitable combination is never completed.

Warrants and Rights Risk. The Fund may receive or invest in warrants or rights, which confer the right to purchase underlying securities at a specified price rather than an ownership interest, and generally carry no voting rights or dividends. They are speculative, involve a high degree of risk, and may be highly volatile without moving in tandem with the underlying securities. Their valuation involves significant judgment, and they may expire worthless if not exercised or sold prior to expiration.

Money Market Instrument Risk. The Fund may use money market instruments for cash management purposes, including money market funds, depositary accounts, and repurchase agreements. Repurchase agreements may be subject to market and credit risk related to the collateral securing the agreement. Money market instruments, including money market funds, may lose money through fees or other means.

Management Risk. The investment techniques and risk analyses applied by the Adviser may not produce the desired results, and legislative, regulatory, or tax developments may affect the techniques available to the Adviser in managing the Fund. There is no guarantee that the Fund's investment objective will be achieved.

Operational Risk. The Fund is subject to risks arising from operational factors including human error, processing and communication errors, errors by service providers or other third parties, failed or inadequate processes, and technology or systems failures. The Fund relies on third parties for services including custody, and there is no way to completely protect against these risks.

Non-Diversification Risk. Because the Fund is non-diversified, it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than a diversified fund. As a result, a decline in the value of an investment in a single issuer could cause the Fund's overall value to decline to a greater degree.

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.

Tax Risk. The Fund intends to qualify each year as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code. If it fails to qualify and relief provisions are unavailable, its income would be taxed at the Fund level and again at the shareholder level when distributed. To comply with the RIC asset diversification test, the Fund will attempt to keep the value of swap contracts on a single issuer's shares below 25% of Fund value at each quarter close; failure to timely cure a breach may cost the Fund its RIC status.

Please see the prospectus for a complete description of the principal risks.

The MarketVector Global Foundries Index was launched on July 20, 2026, is owned and administered by MarketVector Indexes GmbH, and is calculated by Solactive AG. The Index Provider is not affiliated with the Fund's adviser, sponsor, administrator, or distributor.

*As of Sept 3, 2026 based on a review of SEC EDGAR filings and publicly available ETF issuer, index provider, and exchange listings, Defiance ETFs has identified no U.S.-listed exchange-traded fund, current or historical, whose name, underlying index, or stated principal investment strategy is dedicated to semiconductor foundry companies, and accordingly believes the Defiance Global Foundries ETF (Nasdaq: AIFR) is the first U.S.-listed ETF dedicated to semiconductor foundries. Broad semiconductor ETFs hold foundry companies alongside chip designers, equipment makers, and memory producers; certain semiconductor ETFs explicitly exclude manufacturing-focused companies or specific foundries; and adjacent thematic ETFs target memory, equipment, packaging, power semiconductors, or the semiconductor supply chain broadly. The claim is subject to change.

Brokerage commissions may be charged on trades.

Distributed by Foreside Fund Services, LLC.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4e8eab7b-a3c5-4588-8321-ceebd12a5c2a

Defiance Launches AIFR, the First U.S.-Listed ETF Dedicated to Semiconductor Foundries