XLPU is a short-term trading tool, not buy-and-hold investment. The product is structured as an exchange traded note, which is an unsecured debt obligation of the issuing bank, thus introducing credit risk to traders of the shares. XLPU aims to provide 3x the daily closing price of the State Street Consumer Staples Select Sector SPDR ETF (ticker: XLP), a market-cap-weighted index of consumer-staples stocks drawn from the S&P 500. The leverage of the note resets daily, so returns over any period longer than one day will differ from three times the return of XLP and losses compound. In a flat or choppy market, XLPU can produce losses due to the daily reset.