Leverage Shares 2X Short SPCX Daily ETF (SSPC)

The Leverage Shares 2X Short SPCX Daily ETF is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to twice the inverse (opposite) of the daily percentage change of shares of Space Exploration Technologies Corp. (SpaceX) (ticker SPCX). It obtains this short exposure mainly through swap agreements and other derivatives.

SpaceX builds and launches rockets and spacecraft and operates the Starlink satellite internet network; it was founded by Elon Musk in 2002. The fund is sponsored by Leverage Shares. The fund resets its leverage each trading day, so its target applies to single-day returns only; over longer holding periods its performance can differ substantially from two times the inverse of the underlying return because of daily compounding.