Leverage Shares 100% TSLA AND 100% SPCX Daily ETF (ELOL)

The Leverage Shares 100% TSLA AND 100% SPCX Daily ETF (ELOL) is a leveraged exchange-traded fund from Leverage Shares that combines exposure to two companies associated with Elon Musk.

As its name indicates, the fund seeks daily results equal to 100% of the daily performance of Tesla stock plus 100% of the daily performance of SpaceX stock (ticker SPCX), giving combined exposure of roughly twice its net assets. It uses swaps and other derivatives to obtain this exposure.

Because the exposure is reset daily, returns over longer periods can differ substantially from the combined returns of the two stocks. The fund trades on the Nasdaq.