Leverage Shares 2X Long TSM Daily ETF (TSMG)

The Leverage Shares 2X Long TSM Daily ETF (TSMG) is a leveraged single-stock fund that seeks daily investment results equal to two times (200%) the daily percentage change in the American depositary receipts of Taiwan Semiconductor Manufacturing Company (TSM), a Taiwan-based contract chip manufacturer.

The fund obtains its leveraged exposure mainly through swap agreements. Because it targets twice the return of TSM for a single day and resets daily, its results over longer periods can differ significantly from 2x the stock's performance. The ETF is offered by Leverage Shares and trades on the Nasdaq.