Leverage Shares 2X Long VALE Daily ETF (VALG)

Leverage Shares 2X Long VALE Daily ETF (VALG) is a leveraged exchange-traded fund that seeks daily investment results equal to two times (2x) the daily percentage change in the share price of Vale S.A.. It is a single-stock fund, so its performance is tied entirely to one underlying company rather than to a diversified portfolio.

Vale S.A. (VALE) is a Brazilian mining company and one of the principal global producers of iron ore and iron ore pellets, with additional operations in nickel, copper and other base metals. Its shares trade in the United States as American Depositary Receipts.

The fund typically obtains its leveraged exposure through swap agreements and similar instruments rather than by simply holding twice as many shares. Because the 2x target applies to each single trading day and the leverage is reset daily, results over periods longer than one day can differ meaningfully from twice the stock's return over the same period. The fund is sponsored by Leverage Shares, part of the Themes ETFs family.