Leverage Shares 2X Long DUOL Daily ETF (DUOG)

The Leverage Shares 2X Long DUOL Daily ETF (DUOG) is a leveraged single-stock fund from Leverage Shares. It seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in the share price of Duolingo, the company behind the popular language-learning app. Duolingo, headquartered in Pittsburgh, offers a gamified mobile and web platform for learning languages and other subjects, earning revenue mainly from subscriptions and advertising.

The fund uses swap agreements and other derivatives to achieve its leverage and resets its exposure every trading day. Because the 2x objective applies to a single day, returns over longer periods can deviate substantially from twice Duolingo's performance, especially when the stock is volatile. It is designed for short-term trading.