Share-split context: A reverse split was recorded on Apr 24, 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.

Understanding the Leverage Shares 2X Long GEMI Daily ETF (GEMG)

What this ETF is trying to do

The Leverage Shares 2X Long GEMI Daily ETF (ticker: GEMG) is a leveraged ETF. This means it is designed to seek to provide more than double the daily performance of its target index. Because it uses leverage, the price can move much faster than the underlying market—both up and down.

What the numbers show

As of October 7, 2026, the current price of GEMG is $6.95.

When looking at performance, it is important to note that this ETF has a history of reverse splits. A reverse split happens when multiple old shares are combined into fewer new shares. This causes the price per share to rise mechanically, but it does not increase the actual value of your investment. Because this ETF has a split history, we use split-adjusted returns to look at performance.

The year-to-date (YTD) price return for GEMG is approximately -91.85%. Since no distributions were paid, the YTD total return is also approximately -91.85%. This indicates a significant share-price decline since the start of the year.

Income and distribution explanation

GEMG does not currently provide income to investors. The data shows a distribution yield of 0% and no distributions have been detected over the last 12 months. Because there are no payouts, the income rating for this ETF is an "F" grade.

NAV erosion explanation

Investors often ask about "NAV erosion." NAV (Net Asset Value) is the actual value of the assets held by the fund. A falling market price is a "share-price decline," which is different from NAV erosion.

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion. While the share price has declined significantly this year, we cannot use the price-based data to prove whether the underlying NAV has eroded.

Pros

• Leverage: For traders looking for amplified daily movement, this fund uses a 2X leverage strategy.

Cons

• High Volatility: Because it is a leveraged ETF, price swings can be very large.

• No Income: This fund does not pay out distributions or dividends.

• Significant Price Decline: The fund has experienced a YTD price return of approximately -91.85%.

Beginner takeaway

GEMG is a highly specialized, leveraged tool. It is designed for daily movement rather than long-term holding. Because it uses leverage, the price can drop very quickly. Currently, the fund is not paying any income and has seen a major decline in its share price so far this year.