ADBG vs. PYPG

Last updated Jun 6, 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 -71.70% vs -75.88% for PYPG. At a 0.48 correlation, their price movements are largely independent. 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

The year-to-date returns for both stocks are quite close, with ADBG having a -54.70% return and PYPG slightly lower at -57.23%.

ADBG

• 1D: -5.32%
• 1M: -1.91%
• YTD: -54.70%
• 6M: -54.25%
• 1Y: -71.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PYPG

• 1D: -6.94%
• 1M: -21.02%
• YTD: -57.23%
• 6M: -62.71%
• 1Y: -75.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ADBG vs. PYPG - Yearly Performance Comparison

	2026 (YTD)	2025
ADBG Leverage Shares 2X Long ADBE Daily ETF	-54.70%	-14.00%
PYPG Leverage Shares 2X Long PYPL Daily ETF	-57.23%	-16.47%

Correlation

The correlation between ADBG and PYPG is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	0.48

Return for Risk

ADBG vs. PYPG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADBG

ADBG Risk / Return Rank: 1
ADBG Sharpe Ratio Rank: 1
ADBG Sortino Ratio Rank: 1
ADBG Omega Ratio Rank: 0
ADBG Calmar Ratio Rank: 1
ADBG Martin Ratio Rank: 2

PYPG

PYPG Risk / Return Rank: 1
PYPG Sharpe Ratio Rank: 2
PYPG Sortino Ratio Rank: 1
PYPG Omega Ratio Rank: 1
PYPG Calmar Ratio Rank: 0
PYPG Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	ADBG	PYPG	Difference
Sharpe ratio: Return per unit of total volatility	-1.07	-0.97	-0.09
Sortino ratio: Return per unit of downside risk	-1.98	-1.65	-0.33
Omega ratio: Gain probability vs. loss probability	0.77	0.77	0.00
Calmar ratio: Return relative to maximum drawdown	-0.94	-0.96	+0.01
Martin ratio: Return relative to average drawdown	-1.42	-1.50	+0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADBG vs. PYPG - Sharpe Ratio Comparison

The current ADBG Sharpe Ratio is -1.07, which is comparable to the PYPG Sharpe Ratio of -0.97. 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.

Sharpe Ratios by Period

	ADBG	PYPG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.07	-0.97	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	-0.93	-0.75	-0.18

Drawdowns

ADBG vs. PYPG - Drawdown Comparison

The maximum ADBG drawdown since its inception was -76.71%, roughly equal to the maximum PYPG 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	-76.71%	-79.52%	+2.81%
Max Drawdown (1Y) Largest decline over 1 year	-76.23%	-79.52%	+3.29%
Current Drawdown Current decline from peak	-72.49%	-78.62%	+6.13%
Average Drawdown Average peak-to-trough decline	-41.84%	-38.27%	-3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.52%	50.63%	-0.11%

Volatility

ADBG vs. PYPG - Volatility Comparison

Leverage Shares 2X Long ADBE Daily ETF (ADBG) has a higher volatility of 27.94% compared to Leverage Shares 2X Long PYPL Daily ETF (PYPG) at 13.79%. This indicates that ADBG's price experiences larger fluctuations and is considered to be riskier than PYPG based on this measure. 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	27.94%	13.79%	+14.15%
Volatility (6M) Calculated over the trailing 6-month period	56.40%	68.45%	-12.05%
Volatility (1Y) Calculated over the trailing 1-year period	67.29%	78.05%	-10.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.90%	78.51%	-11.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.90%	78.51%	-11.61%

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 0.46, 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?

ADBG has higher volatility (27.94%) compared to PYPG (13.79%). In terms of maximum drawdown, ADBG dropped -76.71% vs PYPG's -79.52%.

Which ETF is better, ADBG or PYPG?

On 1-year performance, ADBG leads with -71.70% vs -75.88% for PYPG. Both ETFs have the same 0.75% expense ratio. On volatility, PYPG has been the lower-risk option at 13.79%. 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, ADBG has performed better with a -71.70% return vs -75.88%. 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 (-0.97 vs -1.07), 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.