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SPOG

GradeCNASDAQ Global Market

Leverage Shares 2x Long SPOT Daily ETF

Leveraged · Single-Stock Leveraged · LeverageShares · Inception 2025-11-17

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.

$7.20+0.18 (+2.56%)

As of Sep 23, 2026, 3:04 PM EDT

History starts Nov 17, 2025.History starts Nov 17, 2025.
Intraday session: up, 45 prints from 7.02 to 7.20. Range 6.65 to 7.20. Use the arrow keys to read each point.$6.60$6.80$7.0010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$4M
1Y return
—
Yield · Last 12 months
—
Holdings
4
Volume · 30D
0.1M sh
NAV per share
$7.43
52W range
low $5.26high $15.27

The ETF.net SPOG Grade

C

40/ 100

Rank 196 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for SPOG. Scores out of 100: Cost 67, Risk 56, Mission 77, Tradability 48, Holdings not scored, Durability 47. Strongest: Mission (77). Weakest: Durability (47). 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 earned59This cap took−19Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 67
    Category rank154/380 · top 41%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 77
    Category rank131/147 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 56
    Category rank104/285 · top 36%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 48
    Category rank188/380 · top 49%

  • 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 47
    Category rank211/380 · mid-pack

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

Our read on SPOG

ETF.net Research

CTwo-times daily Spotify in a single ticker. The leveraged single-stock aisle is stacked with chipmakers and megacap tech; SPOG points that same daily-reset machinery at a music-streaming stock, for 0.75% a year.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of Spotify Technology S.A. stock.

Why people hold it

  1. 01Delivers 200% of Spotify's daily move in an ordinary 1940 Act ETF. No margin account, no options chain, no borrow to arrange.leverageshares.com
  2. 02At 0.75% a year it comes in under the typical 2x single-stock fund, and matches Leverage Shares stablemates like ASMG and UNHG on price.
  3. 03Fills a gap on a crowded shelf: the biggest 2x single-stock funds track chips and megacap tech, not a subscription-streaming name like Spotify.

Worth knowing

  1. 01The 2x target resets daily. Hold past a day and your result follows the compounding path, so choppy stretches can drag while sustained trends amplify.
  2. 02One stock, doubled. Earnings night, a subscriber surprise, or a management shakeup lands twice as hard here as it does in SPOT shares.
  3. 03Launched in November 2025, so it is one of the newer tickets in this category, with a shorter trading record than the long-running megacap leveraged funds.

SPOG Holdings

As of Sep 21, 2026, 6:59 PM
Asset class
Stocks
Holdings
4
Top-10 weight
210%
Largest holding
SPOTIFY TECHNOLOGY SWAP CS150.8%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPOTIFY TECHNOLOGY SWAP CS150.84%11,563$6M1
002—SPOTIFY TECHNOLOGY SWAP CF30.00%2,300$1M1
003—SPOTIFY TECHNOLOGY SWAP MAR19.11%1,465$782K1
004—First American Treasury Obligations Fund 01/01/204010.11%413,565$414K147

Showing 1–4 of 4 holdings

SPOG Performance

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

SPOG$5,740
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. SPOG $5,740. SPY $11,430. Use the arrow keys to read each point.$3,860$7,946$12,032Dec 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 SPOG. Periods over one year show the average yearly return.
PeriodSPOG
Year to date−42.6%
1 month−13.3%
3 months+12.0%
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 SPOG
YearReturn barSPOG
2026 YTD−42.6%
2025−19.5%

Since listing, Nov 17, 2025

SPOG in the news

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

SPOG 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 Nov 2025. No distributions yet.

SPOG 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 Nov 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 Nov 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 Nov 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.
0.06
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.

SPOG 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.

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