Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Defiance Hotel, Airline, and Cruise ETF (CRUZ) and the Defiance Next Gen H2 ETF (HDRO) Closure

MIAMI, April 10, 2025 (GLOBE NEWSWIRE) -- The Board of Trustees of ETF Series Solutions, upon recommendations from Defiance ETFs, LLC, the investment adviser to the Defiance Hotel, Airline, and Cruise ETF (CRUZ) and the Defiance Next Gen H2 ETF (HDRO) (each, a “Fund,” and together, the “Funds”), has determined to close and liquidate the Funds immediately after the close of business on April 29, 2025. Shares of the Funds are listed on the New York Stock Exchange (NYSE).

Effective on or about April 18, 2025, the Funds will begin liquidating their portfolio assets. This will cause the Funds to increase their cash holdings and deviate from the investment objectives and strategies stated in each Fund’s prospectus.

The Funds will no longer accept orders for new creation units after the close of business on the business day prior to the Liquidation Date, and trading in shares of the Funds will be halted prior to market open on the Liquidation Date. Prior to the Liquidation Date, shareholders may only be able to sell their shares to certain broker-dealers, and there is no assurance that there will be a market for the Funds’ shares during that time period. Customary brokerage charges may apply to such transactions.

On or about the Liquidation Date, the Funds will liquidate their assets and distribute cash pro rata to all remaining shareholders. These distributions are taxable events. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidations. In addition, these payments to shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, each Fund’s net asset value will reflect the costs of closing the Fund, if any. Once the distributions are complete, the Funds will terminate. Proceeds of the liquidations will be sent to shareholders promptly after the Liquidation Date.

For additional information, please call +1 833.333.9383 or email info@defianceetfs.com.

The Funds’ 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 companies. The prospectus can be obtained by calling +1 833.333.9383. Please read it carefully before investing.

Investing involves risk. Principal loss is possible.

A commission may apply when buying or selling an ETF.

Defiance ETFs are distributed by Foreside Fund Services, LLC.

Contact Information:
David Hanono
833.333.9383
info@defianceetfs.com


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