- LongPoint Asset Management launched NVDD and TSLD, Canada’s first inverse double-leveraged single-stock ETFs, offering -2X exposure to NVIDIA and Tesla on the TSX
- These ETFs complement LongPoint’s existing 2X long Savvy ETFs on six major tech stocks, enabling investors to take both bullish and bearish short-term positions
- The ETFs are Canadian-dollar denominated, unhedged, and designed for daily trading strategies, targeting two times the inverse of the daily stock performance
- LongPoint also filed a preliminary prospectus for two new inverse ETFs—COID (Coinbase) and MSTZ (MicroStrategy)—under its Partnership ETF platform with Universal Digital Inc. (CSE:LFG)
LongPoint Asset Management made a major move in the Canadian ETF market with the launch of two new Savvy Double Leveraged Single Stock ETFs—NVDD and TSLD—on the TSX. These ETFs offer -2X daily leveraged exposure to Nvidia Corp. (NASDAQ:NVDA) and Tesla Inc. (NASDAQ:TSLA), respectively, marking the debut of Canada’s first inverse double-leveraged single-stock ETFs.
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The new ETFs are listed in Canadian dollars and provide active investors with tools to express short-term, high-conviction bearish views on two of the most actively traded U.S. tech stocks. NVDD and TSLD join LongPoint’s existing suite of six 2X long Savvy ETFs launched earlier this year—AAPU (Apple), AMZU (Amazon), ALPU (Alphabet), MSFU (Microsoft), NVDU (NVIDIA), and TSLU (Tesla)—offering investors the flexibility to go long or short on these names depending on market sentiment.
“Active Canadian investors want to be able to position both long and short on popular stocks like NVIDIA and Tesla,” Steve Hawkins, LongPoint’s CEO said in a news release. “These new ETFs offer active Canadian investors a Canadian-domiciled, TSX-listed solution-trading in Canadian dollars-that enables them to tactically position their portfolios around company-specific news, technical signals, market events, or fundamental price outlooks.”
The ETFs are designed to deliver daily investment results that correspond to two times the inverse (-2X) of the daily performance of the underlying stock, before fees and expenses. They are not currency-hedged and are intended for sophisticated investors employing short-term trading strategies. Due to the compounding effects of leverage and daily rebalancing, returns over periods longer than one day may differ significantly from the expected multiple.
In addition to the launch of NVDD and TSLD, LongPoint has filed a preliminary prospectus for two more inverse double-leveraged ETFs under its Partnership ETF platform, in collaboration with Universal Digital Inc. The proposed LFG Daily (-2X) COIN Short ETF (COID) and LFG Daily (-2X) MSTR Short ETF (MSTZ) will target inverse exposure to Coinbase Global Inc. and MicroStrategy Inc., respectively.
These ETFs will expand LongPoint’s LFG ETF line-up with Universal Digital Inc. (CSE:LFG), which already includes the double-leveraged long ETFs COIU and MSTU. The new filings reflect growing demand among Canadian investors for sophisticated tools to manage exposure to volatile digital asset-linked equities.
With these launches, LongPoint Asset Management Inc. is making a name for itself in Canada’s leveraged ETF space, having previously introduced triple-leveraged index ETFs and commodity-based leveraged products. The firm now manages 28 Canadian-listed ETFs with approximately C$200 million in assets under management.
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