Corgi ASTS 2x Daily ETF (ASTT)

This exchange-traded fund from Corgi seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in the share price of AST SpaceMobile (ASTS). It is a single-stock leveraged product: rather than holding a diversified portfolio, it obtains its exposure mainly through swap agreements and other derivatives referencing AST SpaceMobile common stock, along with cash and short-term instruments held as collateral.

The underlying company: AST SpaceMobile is building a space-based cellular broadband network of large satellites designed to connect directly to standard, unmodified mobile phones, working with wireless carriers to extend coverage to areas that ground towers do not reach.

Because the fund resets its leverage every trading day, its stated two multiple applies only to one-day returns. Over longer holding periods, compounding of daily results means performance can differ substantially from two times the stock's cumulative return, particularly when the share price is volatile.