Leveraged and inverse ETFs (exchange-traded funds) and ETNs (exchanged-traded notes) are types of ETPs (exchanged-traded products) designed to provide a multiple of and/or the inverse of the performance of a certain index or benchmark on a daily basis. These products are complex investments and can be risky. In fact, some of these ETFs and ETNs have had to be disbanded after particularly volatile events disrupted the underlying investments. Therefore, it's important to learn more about these complex investments and their potential risks and benefits before trading them.

To find out more about ETNs, please read Exchange Traded Notes: The facts and the risks.
https://www.schwab.com/learn/story/ex...

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