ETF Educational Report: Themes ETF Trust Leverage Shares 2X Long SATS Daily ETF (SATG)

What this ETF is trying to do

This ETF, trading under the ticker SATG on the NASDAQ, is an exchange-traded fund. Based on its name, it is designed to provide leveraged exposure to a specific target. It is important to note that leveraged ETFs are designed for specific daily goals and can behave differently than standard funds over longer periods of time.

What the numbers show

As of June 30, 2026, the current share price of SATG is $10.87.

When looking at how the fund has performed this year, we look at two different types of numbers: price return and total return.

• Price Return: This measures only the change in the share price.

• Total Return: This includes both the share price change and any cash distributions paid out to investors.

For SATG, the year-to-date (YTD) price return is approximately -33.00%. The YTD total return is also approximately -33.00%. Because these numbers are the same, it shows that the share price has dropped by about 33% since the start of the year.

Income and distribution explanation

Some investors look for ETFs that pay them regular cash, known as distributions. The distribution yield for SATG is 0.00%. No distributions were detected over the last 12 months. Because there are no distributions, the total return and the price return are identical in this case.

Portfolio Exposure

The following information shows the Top Holdings for this ETF. Please remember that holdings can change over time. As of the last update on August 20, 2026, the fund's largest holding is:

• FIRST AMERICAN TREASURY OBLIGS X (FXFXX): 15.36%

Pros

• The ETF provides specific leveraged exposure to its target asset.

• The data shows a very small number of holdings, which means the fund's exposure is concentrated in a few areas.

Cons

• The fund has experienced a significant share-price decline of approximately 33% so far this year.

• There are no distributions or cash income being paid out to investors based on the current data.

Beginner takeaway

When studying an ETF, it is important to look at both the price return and the total return. A price return tells you how much the share price moved, while the total return tells you the overall result including any cash payments. In the case of SATG, the share price has declined significantly this year. Always remember that a falling share price means the value of your investment in that fund is decreasing.