Leverage Shares 2X Long STM Daily ETF (STMX)

The Leverage Shares 2X Long STM Daily ETF is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to twice the daily percentage change of the U.S.-listed shares of STMicroelectronics N.V. (ticker STM). It typically obtains this exposure through swap agreements and similar derivatives rather than by holding only the shares outright.

STMicroelectronics is a Geneva-based semiconductor maker producing microcontrollers, power chips, analog and sensor devices for automotive, industrial and consumer electronics markets. 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 underlying return because of daily compounding.