SPOG vs. XXXX

Last updated Jun 4, 2026

SPOG (Leverage Shares 2X Long SPOT Daily ETF) and XXXX (MAX S&P 500 4X Leveraged ETN) are both Leveraged Equities funds. SPOG is actively managed, while XXXX is passively managed. At a 0.21 correlation, their price movements are largely independent. SPOG charges 0.75%/yr vs 2.95%/yr for XXXX.

Performance

SPOG vs. XXXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long SPOT Daily ETF (SPOG) and MAX S&P 500 4X Leveraged ETN (XXXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPOG achieves a -41.52% return, which is significantly lower than XXXX's 29.32% return.

SPOG

• 1D: -5.23%
• 1M: 19.81%
• YTD: -41.52%
• 6M: -37.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XXXX

• 1D: -2.88%
• 1M: 18.44%
• YTD: 29.32%
• 6M: 26.06%
• 1Y: 86.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPOG vs. XXXX - Yearly Performance Comparison

	2026 (YTD)	2025
SPOG Leverage Shares 2X Long SPOT Daily ETF	-41.52%	-19.53%
XXXX MAX S&P 500 4X Leveraged ETN	29.32%	6.71%

Correlation

The correlation between SPOG and XXXX is 0.21, 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 Nov 18, 2025	0.21

Return for Risk

SPOG vs. XXXX — Risk / Return Rank

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

XXXX

XXXX Risk / Return Rank: 49
XXXX Sharpe Ratio Rank: 53
XXXX Sortino Ratio Rank: 45
XXXX Omega Ratio Rank: 47
XXXX Calmar Ratio Rank: 46
XXXX Martin Ratio Rank: 52

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.

SPOG vs. XXXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long SPOT Daily ETF (SPOG) and MAX S&P 500 4X Leveraged ETN (XXXX). 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

	SPOG	XXXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.73	0.87	-1.60

Drawdowns

SPOG vs. XXXX - Drawdown Comparison

The maximum SPOG drawdown since its inception was -64.41%, roughly equal to the maximum XXXX drawdown of -62.27%. Use the drawdown chart below to compare losses from any high point for SPOG and XXXX.

Drawdown Indicators

	SPOG	XXXX	Difference
Max Drawdown Largest peak-to-trough decline	-64.41%	-62.27%	-2.14%
Max Drawdown (1Y) Largest decline over 1 year	—	-37.25%	—
Current Drawdown Current decline from peak	-52.94%	-2.88%	-50.06%
Average Drawdown Average peak-to-trough decline	-40.43%	-11.60%	-28.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.73%	—

Volatility

Volatility by Period

	SPOG	XXXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.32%	—
Volatility (6M) Calculated over the trailing 6-month period	—	35.41%	—
Volatility (1Y) Calculated over the trailing 1-year period	103.84%	46.83%	+57.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	103.84%	60.75%	+43.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	103.84%	60.75%	+43.09%

SPOG vs. XXXX - Expense Ratio Comparison

SPOG has a 0.75% expense ratio, which is lower than XXXX's 2.95% expense ratio.

Dividends

SPOG vs. XXXX - Dividend Comparison

Neither SPOG nor XXXX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPOG and XXXX in my portfolio?

SPOG and XXXX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPOG or XXXX?

On fees, SPOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPOG or XXXX?

SPOG is cheaper with a 0.75% expense ratio, compared with 2.95% for XXXX.

Which ETF pays a higher dividend yield, SPOG or XXXX?

SPOG and XXXX have nearly identical dividend yields, around 0.00%.

What is the main difference between SPOG and XXXX?

They also come from different issuers: Leverage Shares and Max. Their fees differ too: 0.75% for SPOG and 2.95% for XXXX.