Corgi U.S. Biotech 2x Daily ETF (XBIX)

The Corgi U.S. Biotech 2x Daily ETF is a leveraged exchange-traded fund listed on Cboe BZX under the ticker XBIX. It seeks daily investment results, before fees and expenses, of approximately two times the daily performance of a benchmark representing U.S. biotechnology stocks.

The fund obtains its leveraged exposure mainly through derivatives such as swap agreements and rebalances each day so that it targets twice the return of a single trading day. The underlying sector includes companies that research, develop and commercialize drugs and therapies based on biological processes.

Because leverage is applied to daily returns, results over longer holding periods can differ markedly from twice the return of the benchmark, especially when biotech shares are volatile. The fund belongs to the Corgi ETF family.