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Launched · SEC filings

Leverage Shares 2x Long MP Daily ETF

MPGNasdaqCThis 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.

$2.92−0.11 (−3.75%)

At close: Oct 13, 2026, 4:00 PM

C40/ 100

Rank 131 of 380 in Single-Stock Long Leveraged

C40/100Rank 131 of 380inSingle-Stock Long Leveraged
Intraday session: down, 65 prints from 3.04 to 2.92. Range 2.85 to 3.00. Use the arrow keys to read each point.2.852.902.953.0010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$5M
1Y total return
—
Yield · Last 12 months
—
Holdings
5
Avg volume · 30D
0.2M sh
NAV per share
$3.47
52W range
low $2.57high $13.56
Launched
Filings
SEC EDGAR

The ETF.net MPG Grade

Based on 5 of 6 pillars

C

Score 40 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
131 of 380
Six-pillar profile for MPG. Scores out of 100: Cost 67, Risk 40, Mission 94, Tradability 59, Holdings not scored, Durability 49. Strongest: Mission (94). Weakest: Risk (40). Based on 5 of 6 pillars.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
58
This cap took
−18
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B67 out of 100
    Rank 87 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A94 out of 100
    Rank 54 of 148

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C40 out of 100
    Rank 233 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B59 out of 100
    Rank 125 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C49 out of 100
    Rank 197 of 380

Our read on MPG

ETF.net Research

CTwo ETFs chase 200% of MP Materials' daily move. MPG is the cheaper one, at 0.75% a year. One stock, doubled, reset every single day.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of MP Materials Corp. stock (MP).

Why people hold it

  1. 01At 0.75% a year, it undercuts both the typical leveraged single-stock fund and MPL, the other 2x MP Materials ETF, which charges 1.31%.
  2. 02One job, plainly stated: 200% of MP Materials' daily performance before fees and expenses. No basket, no index committee, and it has tracked that target closely.
  3. 03It is a 1940 Act registered fund, not a bank-issued note, and the leverage lives inside the wrapper, so no margin account is involved.leverageshares.com

Worth knowing

  1. 01The 2x resets every day. Hold longer and compounding takes over, so multi-day results can drift far from twice MP's move, especially in choppy trading.
  2. 02Leverage runs both directions. A rough day in one company's stock lands twice as hard here, and the ride is far bumpier than owning MP outright.
  3. 03Launched in October 2025 with a small asset base and only moderate trading. Young, small funds can carry wider spreads and a higher chance of closing.

MPG Holdings

As of Oct 11, 2026
Asset class
Stocks
Holdings
5
Top-10 weight
214%
Largest holding
Mp Materials Corp Com Mar110.5%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Mp Materials Corp Com Mar110.48%120,760$7M1
002—Mp Materials Corp Com Cs85.37%93,315$6M1
003—First American Treasury Obligations Fund 01/01/204014.27%936,560$937K151
004—Mp Materials Corp.-Swap-Jnst-L3.92%4,288$257K1
005—Mp Materials Corp Com Cf0.20%220$13K1

Showing 1–5 of 5 holdings

MPG Performance

Launched Oct 27, 2025

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

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
MPG$4,535
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. MPG $4,535. SPY $11,500. Use the arrow keys to read each point.$2,721$11,022$19,324Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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 MPG. Periods over one year show the average yearly return.
PeriodMPG
Year to date−54.7%
1 month−29.0%
3 months−40.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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 MPG
YearReturn barMPG
2026 YTD−54.7%
2025−43.0%

History from Oct 31, 2025

MPG in the news

Filtered to MPG · Single-Stock Long Leveraged

MPG 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 Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Oct 2025. No distributions yet.

MPG 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.
—
Launched Oct 2025; fills in after 12 months
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.
—
Launched Oct 2025; fills in after 12 months
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.
—
Launched Oct 2025; fills in after 12 months
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.
7.82
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.

MPG Cost

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

86 of the 333 Single-Stock Long Leveraged funds charge less.

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

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