High leverage on one stock
Single-Stock Leveraged ETFs Explained
This ETF follows one stock and magnifies its daily move. A 2x product, for example, tries to deliver about twice the move for one day. It is not the same as buying the stock directly.
Product examples and sources reviewed August 25, 2026. They are not recommendations.
Three examples—not a ranking
The table shows three examples of daily 2x products. It is not a ranking. Fees can change, so always check the current fund page and prospectus.
One very bad day can erase nearly all the capital
The table shows a simplified calculation before costs. If the stock falls 50% in one day, a 2x fund has a target of minus 100%. The real fund can differ. Trading halts, costs and the contracts used affect the result. A total loss remains possible.
| Stock daily loss | 2x fund target | $100 remaining |
|---|---|---|
| −10% | −20% | $80 |
| −25% | −50% | $50 |
| −40% | −80% | $20 |
| −50% | −100% | $0 |
Issuers explicitly warn that the full investment can be lost within one day.
Why several days can look very different
The stock may already move sharply. The ETF resets its leverage each day and starts from the new value. Frequent moves up and down can therefore reduce value even if the stock later returns to its starting point. This is called path dependency.
A steady trend can help instead. The result still remains uncertain. The order and size of each daily move, fees, financing and the gap from the daily target all work together.
Earnings can cause a large price gap
Companies often publish important results after the market closes. The stock can then rise or fall sharply. By the time the ETF trades again, much of the move may already have happened. A stop order does not guarantee a specific sale price.
With only one stock, there is no broad index to offset bad news from one company. Daily leverage magnifies this concentration risk.
What happens when a fund closes
A small fund can close. The issuer normally announces the last trading day. The fund then sells its assets and pays the remaining value to shareholders in cash. A closure is therefore not automatically a total loss.
Value and trading conditions can change before the payment. Costs and taxes may also apply. Check the issuer notice and information from your broker.