Corgi SIMO 2x Daily ETF (SIMX)

The Corgi SIMO 2x Daily ETF is a leveraged single-stock exchange-traded fund that seeks daily investment results equal to twice the daily percentage change of Silicon Motion Technology Corporation, whose American depositary shares trade under the ticker SIMO. Silicon Motion designs NAND flash controllers used in solid-state drives, memory cards and embedded storage for computers, smartphones and other devices.

The fund typically obtains its leveraged exposure through swaps or other derivatives. Because it resets its leverage daily, it targets two times the stock's return for a single day only, and over longer holding periods compounding can cause results to differ significantly from twice the stock's cumulative performance.