Themes ETF Trust - Leverage Shares 2X Long ONDS Daily ETF

ONDG is designed for making bullish bets on the stock price of Ondas Holdings Inc., through swap agreements. The objective is to obtain daily leveraged exposure equivalent to 200% of the fund's net assets. To maintain this exposure, daily rebalancing is performed to make adjustments in response to ONDS's daily price movements. As a geared product, the fund is intended as a short-term tactical tool, rather than as a long-term investment vehicle. As a result, returns may deviate from the expected 2x if held for longer than a single day due to compounding. This strategy is high-risk and does not include a defensive position as part of its overall process. Note that should ONDS's value decline by more than 50% relative to the fund, investors could face a total loss. Additionally, the fund could potentially lose money over time, even if ONDS's performance strengthens. The fund is expected to invest in money market funds, deposit accounts, and short-term debts.