The team at a three-year-old thematic ETF startup with $1.3 billion in AUM (as of March 31) has expanded their fund lineup to seven in recent weeks.

On Friday, Sylvia Jablonski, co-founder and chief investment officer of Defiance ETFs, LLC [profile], unveiled the launch of the Defiance Hotel, Airline, and Cruise ETF (ticker: CRUZ). A week earlier, the Defiance team, launched the Defiance Next Gen Altered Experience ETF (ticker: PSY). PSY is for investing in psychedelics-based medicine, while CRUZ is for investing in global travel.

"The travel reopening trade is here," Jablonski states.

Both new funds are advised by New York City-based Defiance and subadvised by Orinda, California-based Penserra Capital Management LLC, with Penserra's Dustin Lewellyn, Ernesto Tong, and Ananda Desai (managing director, managing director, and associate, respectively) as PMs. All the other service providers are the same for both, too (except for the index providers). Foreside Fund Services, LLC is the new funds' distributor, Cohen & Company, Ltd. is their independent accounting firm, U.S. Bancorp Fund Services LLC (dba U.S. Bank Global Fund Services is their transfer agent (and administrator and index receipt agent), U.S. Bank National Association is their custodian, and Morgan, Lewis & Bockius LLP provides legal counsel.

PSY, which comes with an expense ratio of 75 basis points, tracks the BITA Medical Psychedelics, Cannabis, and Ketamine Index from BITA GmbH. CRUZ, which comes with an expense ratio of 45 bps, tracks the BlueStar Global Hotels, Airlines, and Cruises Index from MV Index Solutions GmbH. 

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