AXS 2X PFE Bull Daily ETF

Frequently Asked Questions About PFEL

What does PFEL invest in?

Under normal market circumstances, the adviser will maintain at least 80% exposure to financial instruments that provide two times leveraged exposure to the daily performance of PFE. The fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve on a daily basis, before fees and expenses, 200% performance of PFE for a single day, not for any other period, by entering into one or more swap agreements on PFE. The fund is non-diversified.

What is the expense ratio of PFEL?

AXS 2X PFE Bull Daily ETF (PFEL) charges an expense ratio of 1.15%. This is the annual fee deducted from fund assets to cover management and operations.

Is PFEL a good long-term hold?

PFEL is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does PFEL's daily reset work?

PFEL rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is PFEL?

AXS 2X PFE Bull Daily ETF (PFEL) manages $500,099 in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is PFEL actively managed or an index fund?

PFEL's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.