Leverage Shares 2X Long PBR Daily ETF (PBRG)

Leverage Shares 2X Long PBR Daily ETF (PBRG) seeks daily investment results, before fees and expenses, of 2 times (2x) the daily percentage change in the share price of Petrobras (PBR). It is a single-stock leveraged ETF sponsored by Leverage Shares, giving amplified long exposure to one company.

The underlying company, Petrobras, is Brazil's state-controlled oil company, headquartered in Rio de Janeiro, focused on offshore exploration and production along with refining and distribution; its shares trade in the U.S. as ADRs. The fund does not usually own the reference shares outright in the required amount; instead it obtains its exposure mainly through derivatives such as swap agreements and options, backed by cash and short-term Treasury holdings.

Because the fund rebalances to its target exposure every day, its stated multiple applies to a single day only. Over periods longer than one day, compounding means the fund's cumulative return can differ significantly from 2 times the stock's return over the same period, particularly when the share price is volatile.