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SPCH

GradeAChicago Board Options Exchange

Leverage Shares 2X Long SPCX Daily ETF

Leveraged · Single-Stock Leveraged · LeverageShares · Inception 2026-06-15

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.

$9.88−0.76 (−7.15%)

As of Sep 23, 2026, 3:10 PM EDT

History starts Jun 15, 2026.History starts Jun 15, 2026.History starts Jun 15, 2026.
Intraday session: down, 69 prints from 10.64 to 9.88. Range 9.84 to 10.54. Use the arrow keys to read each point.$10.00$10.20$10.40$10.6010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$340M
1Y return
—
Yield · Last 12 months
—
Holdings
7
Volume · 30D
30M sh
NAV per share
$10.26
52W range
low $5.30high $28.01

The ETF.net SPCH Grade

A

75/ 100

Rank 2 of 12 in 2x Long SpaceX⁠

Confidence Medium

Six-pillar profile for SPCH. Scores out of 100: Cost 92, Risk 31, Mission not scored, Tradability 94, Holdings not scored, Durability 55. Strongest: Tradability (94). Weakest: Risk (31). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 75 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 92
    Category rank1/12 · top 8%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 31
    Category rank10/11 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 94
    Category rank1/12 · top 8%

  • 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.
    BScore 55
    Category rank4/12 · top 33%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on SPCH

ETF.net Research

AThe SpaceX leverage shelf got crowded fast. SPCH was on it from day one, aiming for twice the stock's daily move through swaps, at 0.75% a year, less than most rivals charge.

Stated mandate

The fund seeks daily investment results equal to twice the daily performance of SpaceX stock, before fees and expenses.

Why people hold it

  1. 01Costs 0.75% a year, under Direxion's LOFF (0.99%) and ProShares' SPCF (1.04%) for the same 2x daily SpaceX trade.
  2. 02Built to start trading with SpaceX's IPO, with its first day of 2x exposure struck off the IPO price. One of the original ways to play the stock at 2x.sec.gov
  3. 03Among the busier tickers in the SpaceX leverage group, which matters when the product is designed around single-day holds.leverageshares.com
  4. 04Its mirror image, SSPC, runs the same machinery at -2x for the same 0.75% fee, so you can flip direction without changing issuers.leverageshares.com

Worth knowing

  1. 01Leverage resets daily. Hold past one day and the result compounds, so it can drift from 2x the stock's move over that stretch.leverageshares.com
  2. 022x cuts both ways: a hard down day in SpaceX stock lands twice as hard here, and this is a young, volatile stock.sec.gov
  3. 03Exposure runs through swaps and options rather than shares, which adds counterparty risk. No distributions so far.leverageshares.com

SPCH Holdings

As of Sep 21, 2026, 6:57 PM
Asset class
Stocks
Holdings
7
Top-10 weight
206%
Largest holding
SPACE EXPLORATION TECHNOLOGIES CORP. CLASS A COMMON STOCK-SWAP-CLST-L73.4%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPACE EXPLORATION TECHNOLOGIES CORP. CLASS A COMMON STOCK-SWAP-CLST-L73.41%1,704,291$233M1
002—SPACE EXPLORATION TECHNOLOGIES CORP. CLASS A COMMON STOCK-SWAP-MREX-L50.05%1,161,940$159M1
003—SPACE EXPLORATION TECHNOLOGIES CORP. CLASS A COMMON STOCK-SWAP-CANT-L32.92%764,250$105M1
004—SPACE EXPLORATION TECHNOLOGIES CORP. CLASS A COMMON STOCK-SWAP-NBCB-L21.28%494,100$68M1
005—SPACE EXPLORATION TECHNOLOGIES CORP. CLASS A COMMON STOCK-SWAP-HSBC-L17.23%400,000$55M1
006—First American Treasury Obligations Fund 01/01/20406.29%20,003,409$20M147
007—SPACE EXPLORATION TECHNOLOGIES CORP. CLASS A COMMON STOCK-SWAP-JNST-L5.10%118,500$16M1

Showing 1–7 of 7 holdings

SPCH Performance

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

SPCH$8,391
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. SPCH $8,391. SPY $10,415. Use the arrow keys to read each point.$3,854$8,273$12,691Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – 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 SPCH. Periods over one year show the average yearly return.
PeriodSPCH
Year to dateFund launched this year—
1 month+24.2%
3 months−16.1%
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 SPCH
YearReturn barSPCH
2026 YTD−49.0%

Since listing, Jun 15, 2026

SPCH in the news

SPCH 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 Jun 2026. No distributions yet.

SPCH 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 Jun 2026; 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 Jun 2026; 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 Jun 2026; 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.
0.00
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.

SPCH Cost

Expense ratio0.75%
  • The middle half of 2x Long SpaceX funds
  • Median 1.02%

No 2x Long SpaceX fund charges less.

SPCH costs $75.00 a year on $10,000. The median 2x Long SpaceX fund costs $101.50.