Share-split context: A reverse split was recorded on May 5, 2026 with coefficient 0.05. A reverse split combines multiple old shares into fewer new shares and mechanically raises the quoted price per share. That mechanical increase does not restore lost investment value. The returns in this report are already split-adjusted, while reverse-split history remains a separate structural warning.

What this ETF is trying to do

The LEVERAGE SHARES 2X LONG BMNR DAILY ETF (BMNG) is a leveraged ETF. This means it uses financial tools to try and multiply the daily movement of a specific target. In this case, it is designed to be "2X Long," meaning it aims for twice the daily return of its target.

What the numbers show

As of October 7, 2026, the share price is $24.38.

The data shows a significant share-price decline so far this year. The year-to-date (YTD) price return is -61.66%. Because there were no distributions, the YTD total return is also -61.66%.

This ETF has a history of a reverse split. On May 5, 2026, a reverse split occurred with a coefficient of 0.05. In a reverse split, multiple old shares are combined into fewer new shares, which mechanically raises the quoted per-share price. It is important to know that this mechanical increase does not restore lost investment value.

Income and distribution explanation

This ETF does not currently provide a way to earn regular cash income. The distribution yield is 0%, and there have been no payouts in the last 12 months. Because of this, it has an income rating grade of "F."

NAV erosion explanation

NAV erosion happens when the value of an ETF's underlying assets declines over time, often causing the share price to drop. While this ETF has seen a large price decline this year, the "severe erosion-risk flag" is currently false. Additionally, an erosion score was not provided because there is not enough verified price history.

Top Holdings

As of October 8, 2026, the ETF holds one asset:

• First American Treasury Obligs X (FXFXX): 7.46%

Pros

• The ETF uses leverage, which can potentially increase gains if the target moves upward.

Cons

• The share price has declined by approximately 61.66% year-to-date.

• It provides no cash distributions or income to investors.

• It has undergone a reverse split, which is often used to raise a falling share price.

Beginner takeaway

BMNG is a high-risk leveraged fund, not an income fund. It has experienced a steep price drop this year and does not pay dividends. Investors should remember that a high distribution yield (which this fund does not have) can sometimes be misleading if the share price is falling. For this ETF, the primary focus is on the daily price movement of its target rather than steady income.