Leverage Shares 2x Long SNAP Daily ETF (SNAG)

Leverage Shares 2x Long SNAP Daily ETF (SNAG) seeks daily investment results, before fees and expenses, equal to two times the daily performance of the common stock of Snap Inc. It is a single-stock leveraged fund sponsored by Leverage Shares, and its objective resets every trading day.

The fund obtains its exposure mainly through swap agreements and other derivatives on the underlying shares rather than simply holding the stock, keeping the remaining assets in cash and short-term instruments as collateral. Because the multiple applies to each day separately, results over periods longer than one day can differ meaningfully from two times the stock's return over the same period.

The underlying company: Snap is the developer of the Snapchat camera and messaging app and sells advertising across its platform, alongside subscriptions and augmented reality products.