AXPG vs. NIOG

Last updated Jun 4, 2026

AXPG (Leverage Shares 2X Long AXP Daily ETF) and NIOG (Leverage Shares 2X Long NIO Daily ETF) are both Leveraged Equities funds from Leverage Shares - AXPG tracks the American Express Company (AXP) while NIOG tracks the NIO Inc. (NIO). Both are passively managed. At a 0.08 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

AXPG vs. NIOG - Performance Comparison

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

Returns By Period

AXPG

• 1D: -6.55%
• 1M: -12.36%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NIOG

• 1D: -8.37%
• 1M: -14.00%
• YTD: 5.09%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AXPG vs. NIOG - Yearly Performance Comparison

	2026 (YTD)
AXPG Leverage Shares 2X Long AXP Daily ETF	-26.97%
NIOG Leverage Shares 2X Long NIO Daily ETF	17.85%

Correlation

The correlation between AXPG and NIOG is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 20, 2026	0.08

Return for Risk

AXPG vs. NIOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long AXP Daily ETF (AXPG) and Leverage Shares 2X Long NIO Daily ETF (NIOG). 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

	AXPG	NIOG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.12	0.21	-1.33

Drawdowns

AXPG vs. NIOG - Drawdown Comparison

The maximum AXPG drawdown since its inception was -30.54%, smaller than the maximum NIOG drawdown of -45.19%. Use the drawdown chart below to compare losses from any high point for AXPG and NIOG.

Drawdown Indicators

	AXPG	NIOG	Difference
Max Drawdown Largest peak-to-trough decline	-30.54%	-45.19%	+14.65%
Current Drawdown Current decline from peak	-28.58%	-34.15%	+5.57%
Average Drawdown Average peak-to-trough decline	-21.05%	-19.65%	-1.40%

Volatility

Volatility by Period

	AXPG	NIOG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	60.05%	120.05%	-60.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.05%	120.05%	-60.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.05%	120.05%	-60.00%

AXPG vs. NIOG - Expense Ratio Comparison

Both AXPG and NIOG have an expense ratio of 0.75%.

Dividends

AXPG vs. NIOG - Dividend Comparison

Neither AXPG nor NIOG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AXPG and NIOG in my portfolio?

AXPG and NIOG have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AXPG or NIOG?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AXPG or NIOG?

AXPG and NIOG have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, AXPG or NIOG?

AXPG and NIOG have nearly identical dividend yields, around 0.00%.

What is the main difference between AXPG and NIOG?

AXPG tracks American Express Company (AXP), while NIOG tracks NIO Inc. (NIO).