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OPEG

GradeCNASDAQ Global Market

Leverage Shares 2x Long OPEN Daily ETF

Leveraged · Single-Stock Leveraged · LeverageShares · Inception 2025-12-11 · 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.

$1.15−0.18 (−13.38%)

As of Sep 23, 2026, 3:13 PM EDT

History starts Dec 11, 2025.History starts Dec 11, 2025.
Intraday session: down, 46 prints from 1.33 to 1.15. Range 1.14 to 1.29. Use the arrow keys to read each point.$1.20$1.25$1.3010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$2M
1Y return
—
Yield · Last 12 months
—
Holdings
5
Volume · 30D
0.1M sh
NAV per share
$1.25
52W range
low $1.11high $17.22

The ETF.net OPEG Grade

C

40/ 100

Rank 188 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for OPEG. Scores out of 100: Cost 67, Risk 23, Mission 99, Tradability 20, Holdings not scored, Durability 41. Strongest: Mission (99). Weakest: Tradability (20). 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 earned44This cap took−4Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 67
    Category rank145/380 · top 38%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 99
    Category rank3/147 · top 2%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 23
    Category rank260/285 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 20
    Category rank301/380 · bottom quartile

  • 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 41
    Category rank239/380 · mid-pack

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

Our read on OPEG

ETF.net Research

CTwo times Opendoor, reset every day. OPEG aims for 200% of Opendoor Technologies' daily stock move inside a plain ETF wrapper, priced below the typical single-stock 2x fund.

Stated mandate

The fund seeks daily investment results equal to 200% of the daily performance of Opendoor Technologies stock, before fees and expenses.

Why people hold it

  1. 01Fee is 0.75% a year, below the typical single-stock 2x fund and under what Direxion charges on comparable bull funds like GGLL and AAPU.
  2. 02The mandate is one sentence: 200% of Opendoor's daily performance, before fees and expenses. It has tracked that stated daily target closely.leverageshares.com
  3. 03An ordinary 1940 Act ETF, so no margin account, no options approval, no borrowing on your end. The leverage lives inside the fund.leverageshares.com

Worth knowing

  1. 01The 2x math resets each session. Over longer holds, choppy trading can leave results well away from twice the stock's move for the period.
  2. 02One stock, geared twice, no diversification. Risk sits at the sharp end even by leveraged single-stock standards.
  3. 03Launched in December 2025 and still a small fund, so trading depth and spreads trail the established single-stock leveraged names.

OPEG Holdings

As of Sep 21, 2026, 6:58 PM
Asset class
Stocks
Holdings
5
Top-10 weight
210%
Largest holding
OPENDOOR TECHNOLOGIES SWAP MAR172.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—OPENDOOR TECHNOLOGIES SWAP MAR172.68%573,000$2M1
002—OPENDOOR TECHNOLOGIES SWAP CS19.16%63,572$224K1
003—First American Treasury Obligations Fund 01/01/204010.37%121,449$121K147
004—OPENDOOR TECHNOLOGIES SWAP CF6.54%21,700$77K1
005—OPENDOOR TECHNOLOGIES INC.-SWAP-JNST-L1.61%5,346$19K1

Showing 1–5 of 5 holdings

OPEG Performance

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

OPEG$1,316
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. OPEG $1,316. SPY $11,430. Use the arrow keys to read each point.$113$7,413$14,714Dec 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 OPEG. Periods over one year show the average yearly return.
PeriodOPEG
Year to date−86.8%
1 month−41.3%
3 months−65.2%
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 OPEG
YearReturn barOPEG
2026 YTD−86.8%
2025−33.5%

Since listing, Dec 11, 2025

OPEG in the news

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

OPEG 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 Dec 2025. No distributions yet.

OPEG 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 Dec 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 Dec 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 Dec 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.
3.01
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.

OPEG 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.

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