Leverage Shares 2X Long ETN Daily ETF (ETNG)

The Leverage Shares 2X Long ETN Daily ETF (ETNG) is a single-stock leveraged ETF from Leverage Shares. Its underlying stock is Eaton Corporation (NYSE: ETN), the power management company that makes electrical systems and components, as well as aerospace and vehicle products.

The fund seeks daily investment results, before fees and expenses, of two times the daily percentage change in Eaton's share price. It achieves this leverage mainly through swap agreements and other derivatives, rebalancing its exposure each trading day.

Because the 2x objective resets daily, the fund's returns over periods longer than one day can differ substantially from twice Eaton's return over the same period. The product is designed for short-term, tactical exposure to a single company rather than diversified holdings.