Skip to content
etf.net

MPG

GradeCNASDAQ Global Market

Leverage Shares 2x Long MP Daily ETF

Leveraged · Single-Stock Leveraged · LeverageShares · Inception 2025-10-27 · SEC filings

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.

$4.00−0.34 (−7.83%)

As of Sep 23, 2026, 2:18 PM EDT

History starts Oct 31, 2025.History starts Oct 31, 2025.
Intraday session: down, 48 prints from 4.34 to 4.00. Range 3.95 to 4.19. Use the arrow keys to read each point.$4.10$4.2010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$4M
1Y return
—
Yield · Last 12 months
—
Holdings
5
Volume · 30D
0.2M sh
NAV per share
$4.15
52W range
low $2.57high $13.56

The ETF.net MPG Grade

C

40/ 100

Rank 177 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for MPG. Scores out of 100: Cost 67, Risk 46, Mission 96, Tradability 49, Holdings not scored, Durability 48. Strongest: Mission (96). Weakest: Risk (46). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned57This cap took−17Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 67
    Category rank135/380 · top 36%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 96
    Category rank41/147 · top 28%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 46
    Category rank157/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 49
    Category rank176/380 · top 46%

  • 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 48
    Category rank203/380 · mid-pack

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

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 Sep 21, 2026, 6:58 PM
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$937K147
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

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

MPG$6,478
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. MPG $6,478. SPY $11,430. Use the arrow keys to read each point.$2,716$11,052$19,389Dec 2025May 2026Sep 2026

Dec 31, 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 MPG. Periods over one year show the average yearly return.
PeriodMPG
Year to date−35.2%
1 month−29.7%
3 months−37.2%
1 yearFund is under 1 year old—
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 MPG
YearReturn barMPG
2026 YTD−35.2%
2025−43.0%

History from Oct 31, 2025

MPG in the news

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

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 Sep 22, 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.
7.67
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%

85 of the 329 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.