SPOG vs. KBE
SPOG (Leverage Shares 2X Long SPOT Daily ETF) and KBE (State Street SPDR S&P Bank ETF) are both exchange-traded funds - SPOG is a Leveraged Equities fund actively managed by Leverage Shares, while KBE is a Financials Equities fund tracking the S&P Banks Select Industry Index. SPOG is actively managed, while KBE is passively managed. Their -0.09 correlation means they have often moved in opposite directions in the past. SPOG charges 0.75%/yr vs 0.35%/yr for KBE.
Performance
SPOG vs. KBE - Performance Comparison
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Returns By Period
In the year-to-date period, SPOG achieves a -44.19% return, which is significantly lower than KBE's 17.50% return.
SPOG
- 1D
- -6.14%
- 1M
- -1.56%
- 6M
- -25.53%
- YTD
- -44.19%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
KBE
- 1D
- 1.25%
- 1M
- 2.77%
- 6M
- 10.56%
- YTD
- 17.50%
- 1Y
- 30.69%
- 3Y*
- 22.23%
- 5Y*
- 10.37%
- 10Y*
- 10.65%
- ALL TIME*
- 3.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $86.64M | $98.95M | $130.23M | |
| $182.54K | $193.71K | $395.29K |
SPOG vs. KBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPOG Leverage Shares 2X Long SPOT Daily ETF | -44.19% | -18.73% |
KBE State Street SPDR S&P Bank ETF | 17.50% | 6.69% |
Correlation
The correlation between SPOG and KBE is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025 | -0.09 |
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Return for Risk
SPOG vs. KBE — Risk / Return Rank
SPOG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KBE
SPOG vs. KBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long SPOT Daily ETF (SPOG) and State Street SPDR S&P Bank ETF (KBE). 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.
| SPOG | KBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.27 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.11 | — |
| Martin ratioReturn relative to average drawdown | — | 5.59 | — |
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Drawdowns
SPOG vs. KBE - Drawdown Comparison
The maximum SPOG drawdown since its inception was -64.41%, smaller than the maximum KBE drawdown of -83.15%. Use the drawdown chart below to compare losses from any high point for SPOG and KBE.
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Drawdown Indicators
| SPOG | KBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.41% | -83.15% | +18.74% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.63% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.97% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.14% | — |
Current DrawdownCurrent decline from peak | -55.09% | -1.08% | -54.01% |
Average DrawdownAverage peak-to-trough decline | -43.53% | -27.33% | -16.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.50% | — |
Volatility
SPOG vs. KBE - Volatility Comparison
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Volatility by Period
| SPOG | KBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.24% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 14.51% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 96.10% | 21.26% | +74.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.10% | 27.05% | +69.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.10% | 29.68% | +66.42% |
SPOG vs. KBE - Expense Ratio Comparison
SPOG has a 0.75% expense ratio, which is higher than KBE's 0.35% expense ratio.
Dividends
SPOG vs. KBE - Dividend Comparison
SPOG has not paid dividends to shareholders, while KBE's dividend yield for the trailing twelve months is around 2.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBE State Street SPDR S&P Bank ETF | 2.08% | 2.51% | 2.35% | 2.78% | 2.99% | 2.16% | 2.44% | 2.33% | 2.18% | 1.36% | 1.39% | 1.70% |
SPOG Leverage Shares 2X Long SPOT Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPOG and KBE have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KBE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KBE is cheaper with a 0.35% expense ratio, compared with 0.75% for SPOG.
KBE has the higher dividend yield at 2.08%, compared with 0.00% for SPOG.
SPOG is categorized as Leveraged Equities, while KBE is Financials Equities. They also come from different issuers: Leverage Shares and State Street. Their fees differ too: 0.75% for SPOG and 0.35% for KBE.
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