What this ETF is trying to do

The Leverage Shares 2X Long UPS Daily ETF (UPSG) is a leveraged ETF. This means it uses financial tools to try and multiply the daily movement of a specific asset. Specifically, it aims for "2X Long" performance, which means it seeks to provide twice the daily return of its target.

What the numbers show

As of October 5, 2026, the share price for UPSG was $15.80.

Looking at the performance for the current year (Year-to-Date), the ETF has a price return of approximately 6.46%. Because there have been no distributions, the total return for the year is also approximately 6.46%.

Data for one-year and three-year returns was not supplied.

Income and distribution explanation

Some investors buy ETFs to get regular cash payments, called distributions. However, this ETF is not designed for that purpose.

The distribution yield is 0%, and there have been no payouts in the last 12 months. Because it does not provide regular income, it has an income rating grade of "F."

Portfolio Exposure

Based on data updated October 7, 2026, the ETF has one holding:

• First American Treasury Obligs X (FXFXX): 9.25%

NAV Erosion Explanation

"NAV erosion" happens when the value of an ETF's underlying assets drops over time, which can cause the share price to fall even if the market seems stable.

For this ETF, the severe erosion-risk flag is false. However, the erosion score is not available because there is not enough verified price history to calculate it.

Pros

• The ETF has shown a positive price return of approximately 6.46% so far this year.

• It does not currently have a severe erosion-risk flag.

Cons

• It provides no cash distributions or income for investors.

• There is limited historical performance data available for longer timeframes (one and three years).

• As a leveraged ETF, it is designed for daily targets, which can be different from long-term results.

Beginner takeaway

UPSG is a specialized tool used to bet on daily price movements. It is not an income fund, as it pays no distributions. New investors should remember that a high distribution yield in other funds can sometimes be misleading if the share price is falling. While this fund doesn't have a high yield, it is important to focus on both the price return and the total return to see how an investment is actually performing.