AALG vs. LULG

Last updated Jun 4, 2026

AALG (Leverage Shares 2X Long AAL Daily ETF) and LULG (Leverage Shares 2X Long LULU Daily ETF) are both Leveraged Equities funds from Leverage Shares. Both are actively managed. At a 0.45 correlation, their price movements are largely independent. AALG charges 0.78%/yr vs 0.75%/yr for LULG.

Performance

AALG vs. LULG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long AAL Daily ETF (AALG) and Leverage Shares 2X Long LULU Daily ETF (LULG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AALG achieves a -32.60% return, which is significantly higher than LULG's -68.07% return.

AALG

• 1D: -4.84%
• 1M: 28.23%
• YTD: -32.60%
• 6M: -26.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LULG

• 1D: -0.95%
• 1M: -6.81%
• YTD: -68.07%
• 6M: -59.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AALG vs. LULG - Yearly Performance Comparison

	2026 (YTD)	2025
AALG Leverage Shares 2X Long AAL Daily ETF	-32.60%	25.80%
LULG Leverage Shares 2X Long LULU Daily ETF	-68.07%	47.31%

Correlation

The correlation between AALG and LULG is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025	0.45

Return for Risk

AALG vs. LULG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long AAL Daily ETF (AALG) and Leverage Shares 2X Long LULU Daily ETF (LULG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AALG	LULG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	-0.86	+0.75

Drawdowns

AALG vs. LULG - Drawdown Comparison

The maximum AALG drawdown since its inception was -64.19%, smaller than the maximum LULG drawdown of -73.18%. Use the drawdown chart below to compare losses from any high point for AALG and LULG.

Drawdown Indicators

	AALG	LULG	Difference
Max Drawdown Largest peak-to-trough decline	-64.19%	-73.18%	+8.99%
Current Drawdown Current decline from peak	-40.39%	-70.43%	+30.04%
Average Drawdown Average peak-to-trough decline	-25.40%	-33.45%	+8.05%

Volatility

Volatility by Period

	AALG	LULG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	95.00%	85.71%	+9.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.00%	85.71%	+9.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.00%	85.71%	+9.29%

AALG vs. LULG - Expense Ratio Comparison

AALG has a 0.78% expense ratio, which is higher than LULG's 0.75% expense ratio.

Dividends

AALG vs. LULG - Dividend Comparison

AALG's dividend yield for the trailing twelve months is around 2.31%, while LULG has not paid dividends to shareholders.

Position	TTM	2025
AALG Leverage Shares 2X Long AAL Daily ETF	2.31%	1.56%
LULG Leverage Shares 2X Long LULU Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both AALG and LULG in my portfolio?

AALG and LULG have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AALG or LULG?

On fees, LULG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AALG or LULG?

LULG is cheaper with a 0.75% expense ratio, compared with 0.78% for AALG.

Which ETF pays a higher dividend yield, AALG or LULG?

AALG has the higher dividend yield at 2.31%, compared with 0.00% for LULG.

What is the main difference between AALG and LULG?

Their fees differ too: 0.78% for AALG and 0.75% for LULG.