Corgi Ex-U.S. Equities 2x Daily ETF (XW)

The Corgi Ex-U.S. Equities 2x Daily ETF (XW) 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 benchmark of equities from markets outside the United States.

The underlying exposure spans international developed and possibly emerging-market stocks across many sectors. Leverage is generally obtained through swaps or other derivatives on international equity indexes or funds, and the exposure is reset each day.

Because the 2x objective applies only to a single day, compounding means returns over longer periods can differ significantly from twice the return of the ex-U.S. equity benchmark.