Leverage Shares 2X Long Plug Power Daily ETF

The Leverage Shares 2X Long Plug Power Daily ETF is an exchange-traded fund designed to deliver daily leveraged investment results equivalent to two times (200%) the daily percentage change in the price of Plug Power Inc.'s common stock, before fees and expenses. This actively managed ETF achieves its objective by investing at least 80% of its net assets in the underlying security and financial instruments such as swap agreements with major institutions, deep in-the-money call options, or synthetic forwards via at-the-money call and put options, all providing leveraged exposure to Plug Power Inc., a company focused on developing a green hydrogen ecosystem encompassing production, storage, distribution, and utilization. Launched on January 13, 2026, with a total expense ratio of 0.75%, the fund maintains high portfolio turnover through daily rebalancing to adjust exposure based on the underlying stock's price movements, holding collateral like money market funds and short-term U.S. government securities. Concentrated in the electrical equipment industry and non-diversified, it trades like a stock, offering 2x leveraged exposure in a liquid ETF structure without margin call risks, though its performance over periods longer than one day deviates significantly due to compounding and volatility effects.