Leverage Shares 2X Long CDNS Daily ETF (CDNG)

The Leverage Shares 2X Long CDNS Daily ETF (CDNG) is a leveraged single-stock exchange-traded fund from Leverage Shares that seeks daily investment results equal to twice the daily performance of Cadence Design Systems (CDNS) common stock.

Cadence Design Systems develops electronic design automation software, hardware and intellectual property used to design semiconductors and electronic systems. The fund gains its leveraged exposure through derivatives such as swaps and resets its leverage each day, so the 2x target applies only to single-day returns. Over longer periods, compounding can cause results to deviate meaningfully from twice the stock's return.