Daily Target 2X Long AVGO ETF (AVGX)
Daily Target 2X Long AVGO ETF operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in Miami, FL, US. The stock last traded at $54.62, down 0.04% on the session, giving a market capitalisation of $122.7M. Its beta of 4.05 implies it has historically moved more than the broad market.
The Defiance Daily Target 2X Long AVGO ETF (AVGX) is engineered to provide magnified daily investment outcomes. Specifically, it aims to mirror, at a two-hundred percent (200%) rate, the daily percentage movements in the stock price of Broadcom Inc. (NASDAQ: AVGO), referred to as the "Underlying Security" or "AVGO". It is crucial to note that AVGX does not invest directly in AVGO shares. Due to its strategy of seeking daily leveraged returns, this Fund operates distinctly from most conventional exchange-traded funds. Consequently, it presents a heightened risk profile compared to investment vehicles that do not employ leverage. There is no assurance that AVGX will consistently achieve its stated objective. Moreover, investors should not expect the Fund to deliver twice the cumulative return of AVGO over periods exceeding a single day, as its design is exclusively focused on daily performance.
Daily Target 2X Long AVGO ETF is most often compared with the following Financial Services names: