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Launched · SEC filings

Leverage Shares 2x Long PYPL Daily ETF

PYPGNasdaqLeverageSharesBThis 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.

$8.51+0.52 (+6.50%)

At close: Nov 2, 2026, 4:00 PM ET

B64/ 100

Rank 23 of 380 in Single-Stock Long Leveraged

B64/100Rank 23 of 380inSingle-Stock Long Leveraged
Intraday session: up, 79 prints from 7.99 to 8.51. Range 8.09 to 8.53. Use the arrow keys to read each point.8.108.208.308.4010 AM12 PM2 PM4 PM
Expense ratio
0.77%
Fund size
$15M
1Y total return
−50.6%
Yield · Last 12 months
No data
Holdings
4
Avg volume · 30D
483K sh
52W range
low $4.41high $16.60
Launched
Filings
SEC EDGAR

The ETF.net PYPG Grade

Based on 5 of 6 pillars

B

Score 64 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
23 of 380
Six-pillar profile for PYPG. Scores out of 100: Cost 60, Risk 59, Mission 96, Tradability 82, Holdings not scored, Durability 61. Strongest: Mission (96). Weakest: Risk (59). Based on 5 of 6 pillars.

Score 64 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B60 out of 100
    Rank 147 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A96 out of 100
    Rank 30 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B59 out of 100
    Rank 118 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A82 out of 100
    Rank 37 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.
    B61 out of 100
    Rank 124 of 380

Our read on PYPG

ETF.net Research

In short

BMost of the single-stock leverage aisle is chips and AI. PYPG points the same machinery at PayPal, aiming for 200% of the stock's daily move, resetting every day, at 0.77% with no fee waiver in play.

Stated mandate

Seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of PayPal Holdings stock.

Why people hold it

  • The mechanism is plain: 200% of PayPal's daily move, rebuilt each day inside a 1940 Act ETF you buy in an ordinary brokerage account. No margin account, no options chain to roll.leverageshares.com
  • At 0.77% it sits below the typical fee in a category of 365 measured peers, and level with siblings such as UNHG at 0.77%, just above TSMG at 0.76% and OKTG at 0.75%.
  • Day to day it has tracked its stated 2x target closely, one of the stronger implementations among leveraged single-stock bull funds, and it trades with reasonable regularity for a niche ticker.

Worth knowing

  • The 2x target applies to one day only. Across a choppy stretch, compounding can leave your return well short of twice PayPal's move over that same stretch, even if the stock finishes higher.leverageshares.com
  • One company, double speed. An earnings miss or a shift in the payments business hits PYPG twice as hard, with no other holdings to soften it.
  • It launched in 2025 and remains a small fund. Themes has already wound down sibling leveraged ETFs that failed to gather assets, so closure is a real possibility across this shelf.themesetfs.com

PYPG Holdings

Asset class
Stocks
Holdings
4
Top-10 weight
210%
Largest holding
PayPal Hldgs Inc Swap - L - Clearstreet113.9%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataPayPal Hldgs Inc Swap - L - Clearstreet113.92%362,781$22.3M1
2No dataPayPal Hldgs Inc Swap - L - Cantor55.94%178,150$11M1
3No dataPayPal Hldgs Inc Swap - L - Marex30.12%95,915$5.9M1
4No dataFirst American Treasury Obligations Fund 01/01/20409.56%1,873,112$1.87M136

Showing 1–4 of 4 holdings

PYPG Performance

Launched Apr 4, 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.
PYPG$4,944
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. PYPG $4,944. SPY $11,199. Use the arrow keys to read each point.$2,500$5,000$7,500$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 PYPG. Periods over one year show the average yearly return.
PeriodPYPG
Year to date−28.3%
1 month+15.8%
3 months−7.6%
1 year−50.6%
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 PYPG
YearReturn barPYPG
2026 YTD−28.3%
2025−16.5%

Since listing, Apr 4, 2025

PYPG in the news

PYPG Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

PYPG Risk

Risk pillarB59 out of 100Rank 118 of 368 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.
78.9%
Annualised · 18 months to Oct 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.
−0.33
vs 3-month T-bills · 18 months to Oct 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.
−79.5%
18 months · trough Feb 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.
1.24
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.

PYPG Cost

Compare PYPG and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$10,674

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

  • PYPG 0.77%

    $14,829

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • PYPG 0.77%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530PYPG $14,829GOGL $4,155

Year by year

YearPYPGGOGLOverpaying
10$1,371$365$1,006
20$5,205$1,421$3,784
30$14,829$4,155$10,674

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