Elon Musk’s most fundamental advice to entrepreneurs looking to get investors to launch a new technology was to build a working prototype. Musk succinctly separated theory from tangible reality when he said: “Everything looks great on PowerPoint” as where everyone may start, but only those theories that can be shown to actually work as purported, no matter how crudely they may appear, will stand a much better chance of generating investment capital. Quantum Computing spent nearly two decades on the drawing board and as a theory until the first prototype debuted in 1998 at Oxford University. That set the stage for genuine R&D investment to truly commence. Fast forward to 2026: Quantum Computing has made great strides and now sits roughly where A.I. was three years ago. The excitement is palpable; even though the bulk of pure-play quantum computing companies are pre-revenue with some still deeply in the red, there are enough major tech companies now involved to make investors willing to roll the dice. The $6 billion AUM Defiance Quantum ETF (NASDAQ: QTUM)’s +54.20% YTD and +98.72% 1-year gain is evidence of this confidence. With A.I. ETFs like iSharesUS Technology ETF (NYSE: IYW) with $25 billion AUM and Fidelity MSCI Information Technology Index ETF (NYSE: FTEC) at $21 billion AUM, can QTUM be far behind? Defiance Quantum ETF Sporting a 5-star Morningstar rating, QTUM tracks the The BlueStar® Machine Learning and Quantum Computing Index. This index focuses on companies specifically involved with quantum computing and machine learning. With a 0.4% expense ratio, QTUM maintains appeal to ETF investors, and its portfolio treads the line between: - Pure-play quantum companies like Righetti, D-Wave and IonQ; - Tech companies that may either explode with profits or collapse in red ink down the road, like Snowflake CoreWeave, or MongoDB; - Stalwarts like