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BAIG

GradeCNASDAQ Global Market

Leverage Shares 2x Long BBAI Daily ETF

Leveraged · Single-Stock Leveraged · LeverageShares · Inception 2025-08-21

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$14.00−0.04 (−0.27%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Aug 21, 2025.
Intraday session: down, 35 prints from 14.04 to 14.00. Range 13.60 to 14.07. Use the arrow keys to read each point.$13.60$13.8010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$7M
1Y return
−93.4%
Yield · Last 12 months
Data unavailable
Holdings
5
Volume · 30D
0M sh
NAV per share
$14.14
52W range
low $12.41high $360.25

The ETF.net BAIG Grade

C

47/ 100

Rank 96 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for BAIG. Scores out of 100: Cost 67, Risk 19, Mission 95, Tradability 33, Holdings not scored, Durability 53. Strongest: Mission (95). Weakest: Risk (19). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 47 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 67
    Category rank97/380 · top 26%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 95
    Category rank45/147 · top 31%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 19
    Category rank275/285 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 33
    Category rank254/380 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 53
    Category rank177/380 · top 47%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on BAIG

ETF.net Research

CA 2x daily-reset bet on BigBear.ai, a single small AI-analytics stock, packaged as an ETF. Leverage Shares runs it at 0.75%, below the going rate for single-stock leveraged funds, and it has hit its stated daily multiple closely.

Stated mandate

The Fund seeks daily leveraged investment results equal to two times the daily percentage change in BBAI's common-stock price, before fees and expenses. It does not pursue this objective for periods different from one trading day.

Why people hold it

  1. 010.75% a year, cheaper than the typical single-stock leveraged fund, and it undercuts the 0.96% Direxion charges on 2x names like AAPU and GGLL.leverageshares.com
  2. 02The fund has one job, two times BBAI's daily price move before fees, and it has hit that target closely, which is what separates good daily-reset funds from sloppy ones.
  3. 03The leverage sits inside the fund, built from swap agreements in a 1940 Act ETF listed on Nasdaq, not in a margin balance in your brokerage account.leverageshares.comleverageshares.com
  4. 04Among the stronger builds in a crowded field of bull-side single-stock leveraged ETFs, and one of several Leverage Shares 2x funds priced at the same 0.75%, including ASMG and UNHG.

Worth knowing

  1. 01It resets every day. The prospectus says the 2x objective applies to one trading day only, so over longer stretches compounding can push results far from 2x BBAI's move.leverageshares.com
  2. 02One stock, no diversification, and BigBear.ai is a small AI-analytics name. Doubling a jumpy stock's daily move cuts in both directions.
  3. 03A 2025 launch that stays small and lightly traded, so spreads and order sizing matter more here than in the household-name leveraged funds.

BAIG Holdings

As of Sep 21, 2026, 6:58 PM
Asset class
Stocks
Holdings
5
Top-10 weight
206%
Largest holding
BIGBEAR AI HLDGS INC SWAP - L - MAREX158.1%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—BIGBEAR AI HLDGS INC SWAP - L - MAREX158.07%4,373,998$14M1
002—BIGBEAR.AI HOLDINGS, INC.-SWAP-JNST-L14.53%402,099$1M1
003—BIGBEAR AI HLDGS INC SWAP - L - CLEARSTREET14.19%392,782$1M1
004—BIGBEAR AI HLDGS INC SWAP- L - CANTOR13.25%366,700$1M1
005—First American Treasury Obligations Fund 01/01/20405.50%489,663$490K147

Showing 1–5 of 5 holdings

BAIG Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

BAIG$657
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BAIG $657. SPY $11,723. Use the arrow keys to read each point.$-526$7,549$15,624Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BAIG. Periods over one year show the average yearly return.
PeriodBAIG
Year to date−83.9%
1 month−22.5%
3 months−50.2%
1 year−93.4%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BAIG
YearReturn barBAIG
2026 YTD−83.9%
2025−36.2%

Since listing, Aug 21, 2025

BAIG in the news

ETF.net Research hasn’t filed on BAIG yet — coverage lands here as it’s written.

BAIG Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$4.75 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $4.75. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Jan 2, 2026$4.75

BAIG Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
127.7%
Annualised · 12 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.81
vs 3-month T-bills · 12 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−95.9%
13 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
6.74
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

BAIG Cost

Expense ratio0.75%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

85 of the 329 Single-Stock Long Leveraged funds charge less.

BAIG costs $75.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.