AXPG vs. USGG

Last updated Jun 4, 2026

AXPG (Leverage Shares 2X Long AXP Daily ETF) and USGG (Leverage Shares 2X Long USAR Daily ETF) are both Leveraged Equities funds from Leverage Shares - AXPG tracks the American Express Company (AXP) while USGG tracks the USA Rare Earth, Inc. (USAR). Both are passively managed. At a 0.33 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

AXPG vs. USGG - 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 USAR Daily ETF (USGG). 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*: —

USGG

• 1D: -17.96%
• 1M: 7.54%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AXPG vs. USGG - Yearly Performance Comparison

	2026 (YTD)
AXPG Leverage Shares 2X Long AXP Daily ETF	-26.97%
USGG Leverage Shares 2X Long USAR Daily ETF	62.55%

Correlation

The correlation between AXPG and USGG is 0.33, 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 Feb 20, 2026	0.33

Return for Risk

AXPG vs. USGG - 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 USAR Daily ETF (USGG). 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	USGG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.12	1.17	-2.29

Drawdowns

AXPG vs. USGG - Drawdown Comparison

The maximum AXPG drawdown since its inception was -30.54%, smaller than the maximum USGG drawdown of -77.74%. Use the drawdown chart below to compare losses from any high point for AXPG and USGG.

Drawdown Indicators

	AXPG	USGG	Difference
Max Drawdown Largest peak-to-trough decline	-30.54%	-77.74%	+47.20%
Current Drawdown Current decline from peak	-28.58%	-32.40%	+3.82%
Average Drawdown Average peak-to-trough decline	-21.05%	-46.06%	+25.01%

Volatility

Volatility by Period

	AXPG	USGG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	60.05%	225.33%	-165.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.05%	225.33%	-165.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.05%	225.33%	-165.28%

AXPG vs. USGG - Expense Ratio Comparison

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

Dividends

AXPG vs. USGG - Dividend Comparison

Neither AXPG nor USGG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AXPG and USGG in my portfolio?

AXPG and USGG have a correlation of 0.33, 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 USGG?

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 USGG?

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

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

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

What is the main difference between AXPG and USGG?

AXPG tracks American Express Company (AXP), while USGG tracks USA Rare Earth, Inc. (USAR).