ETF Report: Leverage Shares 2x Long PYPL Daily ETF (PYPG)

The Leverage Shares 2x Long PYPL Daily ETF (PYPG) is a leveraged ETF designed to provide double the daily return of PayPal Holdings Inc. It is a high-risk tool used by some investors to bet on the daily price movement of a single company.

What this ETF is trying to do

PYPG is a leveraged fund. This means it uses financial tools to try and multiply the daily performance of its target asset. Specifically, it aims for 2x the daily return of PayPal. Because it is a "daily" ETF, it is designed for short-term trading rather than long-term investing.

What the numbers show

The recent price data shows a significant decline in value:

• Current Price: $7.36

• Estimated Price (1 year ago): Approximately $16.57

• One-Year Price Return: -55.57%

• Year-to-Date (YTD) Price Return: -33.97%

Because this fund does not pay distributions, the total return is the same as the price return. For example, if an investor had put $10,000 into the fund one year ago, the price-only return of -55.57% would mean the value of that investment dropped to approximately $4,443 based on these figures.

Income and Distribution Explanation

PYPG does not provide income. The data shows a distribution yield of 0%, no payouts in the last 12 months, and an income rating grade of "F." This ETF is not designed for investors seeking regular cash payments.

Price and NAV Erosion Explanation

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.

However, the price-based evidence is significant. PYPG has a severe erosion-risk flag and an erosion score of 10, which is labeled as "Severe price erosion." This means the fund's share price has deteriorated substantially over time.

Top Holdings

As of October 7, 2026, the fund holds two assets:

• PayPal Holdings Inc (PYPL): 65.98%

• First American Treasury Obligs X (FXFXX): 6.30%

Pros

• Provides a way to get leveraged (2x) exposure to PayPal's daily movements without owning the stock directly.

Cons

• High Risk: Leveraged ETFs can lose value very quickly.

• Severe Price Decline: The fund has seen a major drop in share price over the last year.

• No Income: There are no distributions for investors.

Beginner Takeaway

PYPG is not a traditional "buy and hold" investment. It is a leveraged tool that tracks PayPal daily. The severe erosion-risk flag and the large one-year price drop show that the share price has fallen sharply. New investors should understand that leveraged ETFs are volatile and can result in significant losses of principal.