Leverage Shares 2X Long AXP Daily ETF

The Leverage Shares 2X Long AXP Daily ETF is an actively managed exchange-traded fund designed to deliver two times (200%) the daily performance of American Express Company stock, before fees and expenses. Launched on February 19, 2026, it targets active traders seeking amplified short-term exposure to AXP through a liquid ETF structure, utilizing derivatives like swaps and cash equivalents for leverage without the risk of margin calls. With a total expense ratio of 0.75%—notably lower than the category average—this ETF features daily rebalancing to maintain its 2x bull objective, holding a concentrated portfolio typically including American Express swaps and treasury obligations. It trades like a stock, offering losses capped at the invested amount, but carries significant risks due to leverage, volatility decay, and compounding effects, making it unsuitable for long-term holding or passive investors who do not monitor positions daily. The fund plays a niche role in the leveraged single-stock ETF market, enabling sophisticated market participants to pursue magnified daily returns tied to the financial services sector via American Express, a global payments and credit services leader.