Corgi U.S. Infrastructure 2x Daily ETF (XPAV)

The Corgi U.S. Infrastructure 2x Daily ETF (XPAV) is a leveraged exchange-traded fund from the Corgi ETF lineup. It seeks daily investment results, before fees and expenses, of approximately twice (2x) the daily performance of a basket or benchmark of U.S. infrastructure-related companies.

The fund's holdings and derivatives exposure center on businesses tied to building, maintaining and operating U.S. infrastructure, which can include construction and engineering, materials, equipment, utilities and related industrial firms. Leverage is typically achieved through swaps or other derivatives, and exposure is reset daily.

Because the leverage target applies to one trading day, returns over longer periods can differ significantly from twice the return of the underlying exposure.