Skip to content
etf.net

Launched · SEC filings

Leverage Shares 2x Long OPEN Daily ETF

OPEGNasdaqLeverageSharesCThis 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.

$0.6813−0.20 (−22.58%) past 5 days

At close: Oct 22, 2026, 4:00 PM ET

C40/ 100

Rank 132 of 380 in Single-Stock Long Leveraged

C40/100Rank 132 of 380inSingle-Stock Long Leveraged
5D price: down, 5 points from 0.8800 to 0.6813. Range 0.6800 to 0.7300. Use the arrow keys to read each point.0.75000.80000.8500
Market opens at 9:30 AM ET.
Expense ratio
0.75%
Fund size
$1M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
5
Avg volume · 30D
121K sh
52W range
low $0.6255high $17.22
Launched
Filings
SEC EDGAR

The ETF.net OPEG Grade

As of · Based on 5 of 6 pillars

C

Score 40 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
132 of 380
Six-pillar profile for OPEG. Scores out of 100: Cost 70, Risk 19, Mission 61, Tradability 29, Holdings not scored, Durability 41. Strongest: Cost (70). Weakest: Risk (19). 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
46
This cap took
−6
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A70 out of 100
    Rank 87 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B61 out of 100
    Rank 146 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F19 out of 100
    Rank 340 of 365

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D29 out of 100
    Rank 288 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.
    C41 out of 100
    Rank 233 of 380

Our read on OPEG

ETF.net Research

In short

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

  • Fee 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.
  • The mandate is one sentence: 200% of Opendoor's daily performance, before fees and expenses. It has tracked that stated daily target closely.leverageshares.com
  • An 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

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

OPEG Holdings

As of
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 valueHeld by ETFs
1No dataOpendoor Technologies Swap Mar172.68%573,000$2.02MNo data
2No dataOpendoor Technologies Swap Cs19.16%63,572$224KNo data
3No dataFirst American Treasury Obligations Fund 01/01/204010.37%121,449$121KNo data
4No dataOpendoor Technologies Swap Cf6.54%21,700$76.6KNo data
5No dataOpendoor Technologies Inc.-Swap-Jnst-L1.61%5,346$18.9KNo data

Showing 1–5 of 5 holdings

OPEG Performance

Launched Dec 11, 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.
OPEG$675
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,291
Dec 31, 2025 to Oct 22, 2026. OPEG $675. SPY $11,291. Use the arrow keys to read each point.$0$5,000$10,000$15,000Dec 2025May 2026Oct 2026

Dec 31, 2025 – Oct 22, 2026

Returns run to the Oct 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.

As of
Trailing total return for OPEG. Periods over one year show the average yearly return.
PeriodOPEG
Year to date−93.2%
1 month−48.8%
3 months−81.8%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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−93.2%
2025−33.5%

Since listing, Dec 11, 2025

OPEG in the news

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 Oct 22, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Dec 2025. No distributions yet.

OPEG Risk

Risk pillarF19 out of 100Rank 340 of 365 in Single-Stock Long Leveraged

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.
3.30
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.

FMP measures it over up to five years of monthly returns.

OPEG Cost

OPEG cost

$14,482

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • OPEG 0.75%

    $14,482

$10,000
30 years

Cost over time

  • OPEG 0.75%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530OPEG $14,482

Year by year

YearOPEG
10$1,336
20$5,078
30$14,482