Corgi TPL 2x Daily ETF (TPLX)

The Corgi TPL 2x Daily ETF (TPLX) is a leveraged single-stock fund that seeks daily investment results equal to two times (200%) the daily percentage change in the share price of Texas Pacific Land Corporation (TPL), a company that owns extensive land and royalty interests in the Permian Basin of West Texas.

The fund gains its leveraged exposure mainly through derivatives such as swap agreements. Because it targets a 2x multiple of returns for a single day only and rebalances daily, its performance over longer periods can differ significantly from twice the return of Texas Pacific Land stock. The ETF is offered by Corgi ETFs and trades on Cboe BZX.