PANG – Leverage Shares 2X Long PANW Daily ETF – ETF Investment Strategy | Morningstar

Morningstar

Strategy

The investment seeks daily levered investment results, before fees and expenses, of two times (200%) of the daily percentage change in the price of the common stock of PANW. The fund invests at least 80% of its net assets (plus borrowings for investment purposes) in financial instruments with economic characteristics that, in combination, provide 200% daily leveraged exposure to the price of PANW, consistent with the fund’s investment objective. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
PANG	Leverage Shares 2X Long PANW Daily ETF	ETF	Open	—	—	Mar 20, 2025	$11.10M	0.760%	—	—	−$4.17M

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