ADBG vs. PYPG

Last updated Aug 2, 2026

ADBG (Leverage Shares 2X Long ADBE Daily ETF) and PYPG (Leverage Shares 2X Long PYPL Daily ETF) are both Leveraged Equities funds from Leverage Shares. Both are actively managed. Over the past year, ADBG returned -61.06% vs -46.57% for PYPG. Their 0.48 correlation means their historical movements had little consistent relationship. Both charge a 0.75% expense ratio.

Performance

ADBG vs. PYPG - Performance Comparison

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

Returns By Period

In the year-to-date period, ADBG achieves a -58.12% return, which is significantly lower than PYPG's -22.38% return.

ADBG

• 1D: 1.66%
• 1M: 24.78%
• 6M: -39.12%
• YTD: -58.12%
• 1Y: -61.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -59.25%

PYPG

• 1D: 0.29%
• 1M: 52.64%
• 6M: -3.30%
• YTD: -22.38%
• 1Y: -46.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -30.38%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ADBG Leverage Shares 2X Long ADBE Daily ETF	$29.29M	$27.94M	$25.65M
PYPG Leverage Shares 2X Long PYPL Daily ETF	$3.78M	$5.69M	$4.44M

ADBG vs. PYPG - Yearly Performance Comparison

	2026 (YTD)	2025
ADBG Leverage Shares 2X Long ADBE Daily ETF	-58.12%	-22.58%
PYPG Leverage Shares 2X Long PYPL Daily ETF	-22.38%	-20.19%

Correlation

The correlation between ADBG and PYPG is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.48

Return for Risk

ADBG vs. PYPG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ADBG

ADBG Risk / Return Rank: 2
ADBG Sharpe Ratio Rank: 3
ADBG Sortino Ratio Rank: 3
ADBG Omega Ratio Rank: 3
ADBG Calmar Ratio Rank: 2
ADBG Martin Ratio Rank: 1

PYPG

PYPG Risk / Return Rank: 5
PYPG Sharpe Ratio Rank: 4
PYPG Sortino Ratio Rank: 6
PYPG Omega Ratio Rank: 5
PYPG Calmar Ratio Rank: 4
PYPG Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ADBG vs. PYPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ADBE Daily ETF (ADBG) and Leverage Shares 2X Long PYPL Daily ETF (PYPG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ADBG	PYPG	Difference
Sharpe ratio: Return per unit of total volatility	-0.82	-0.59	-0.24
Sortino ratio: Return per unit of downside risk	-1.23	-0.48	-0.74
Omega ratio: Gain probability vs. loss probability	0.86	0.93	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.82	-0.64	-0.18
Martin ratio: Return relative to average drawdown	-1.37	-0.92	-0.45

ADBG vs. PYPG - Sharpe Ratio Comparison

The current ADBG Sharpe Ratio is -0.82, which is lower than the PYPG Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of ADBG and PYPG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ADBG vs. PYPG - Drawdown Comparison

The maximum ADBG drawdown since its inception was -84.14%, which is greater than PYPG's maximum drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for ADBG and PYPG.

Drawdown Indicators

	ADBG	PYPG	Difference
Max Drawdown Largest peak-to-trough decline	-84.14%	-79.52%	-4.62%
Max Drawdown (1Y) Largest decline over 1 year	-77.58%	-77.14%	-0.44%
Current Drawdown Current decline from peak	-74.57%	-61.21%	-13.36%
Average Drawdown Average peak-to-trough decline	-45.89%	-41.99%	-3.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.03%	53.30%	-7.27%

Volatility

ADBG vs. PYPG - Volatility Comparison

Leverage Shares 2X Long ADBE Daily ETF (ADBG) and Leverage Shares 2X Long PYPL Daily ETF (PYPG) have volatilities of 32.51% and 33.09%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADBG	PYPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.51%	33.09%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	66.46%	76.97%	-10.51%
Volatility (1Y) Calculated over the trailing 1-year period	76.96%	83.92%	-6.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.72%	82.50%	-9.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.72%	82.50%	-9.78%

ADBG vs. PYPG - Expense Ratio Comparison

Both ADBG and PYPG have an expense ratio of 0.75%.

Dividends

ADBG vs. PYPG - Dividend Comparison

Neither ADBG nor PYPG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ADBG and PYPG in my portfolio?

ADBG and PYPG have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADBG or PYPG?

PYPG has higher volatility (33.09%) compared to ADBG (32.51%). In terms of maximum drawdown, ADBG dropped -84.14% vs PYPG's -79.52%.

Which ETF is better, ADBG or PYPG?

On 1-year performance, PYPG leads with -46.57% vs -61.06% for ADBG. Both ETFs have the same 0.75% expense ratio. On volatility, ADBG has been the lower-risk option at 32.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADBG or PYPG?

Over the 1-year period, PYPG has performed better with a -46.57% return vs -61.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADBG or PYPG?

ADBG and PYPG have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, ADBG or PYPG?

ADBG and PYPG have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

PYPG currently has the higher Sharpe Ratio (-0.59 vs -0.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.