UPSG vs. USGG

Last updated Jun 4, 2026

UPSG (Leverage Shares 2X Long UPS Daily ETF) and USGG (Leverage Shares 2X Long USAR Daily ETF) are both Leveraged Equities funds from Leverage Shares. UPSG is actively managed, while USGG is passively managed. At a 0.22 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

UPSG vs. USGG - Performance Comparison

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

Returns By Period

UPSG

• 1D: -0.13%
• 1M: 30.08%
• YTD: 16.33%
• 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)

UPSG vs. USGG - Yearly Performance Comparison

	2026 (YTD)
UPSG Leverage Shares 2X Long UPS Daily ETF	1.41%
USGG Leverage Shares 2X Long USAR Daily ETF	64.11%

Correlation

The correlation between UPSG and USGG is 0.22, 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 Jan 14, 2026	0.22

Return for Risk

UPSG vs. USGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long UPS Daily ETF (UPSG) 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

	UPSG	USGG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	1.17	-0.65

Drawdowns

UPSG vs. USGG - Drawdown Comparison

The maximum UPSG drawdown since its inception was -37.29%, smaller than the maximum USGG drawdown of -77.74%. Use the drawdown chart below to compare losses from any high point for UPSG and USGG.

Drawdown Indicators

	UPSG	USGG	Difference
Max Drawdown Largest peak-to-trough decline	-37.29%	-77.74%	+40.45%
Current Drawdown Current decline from peak	-18.43%	-32.40%	+13.97%
Average Drawdown Average peak-to-trough decline	-16.93%	-46.06%	+29.13%

Volatility

Volatility by Period

	UPSG	USGG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	58.91%	225.33%	-166.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.91%	225.33%	-166.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.91%	225.33%	-166.42%

UPSG vs. USGG - Expense Ratio Comparison

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

Dividends

UPSG vs. USGG - Dividend Comparison

Neither UPSG nor USGG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UPSG and USGG in my portfolio?

UPSG and USGG have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UPSG 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, UPSG or USGG?

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

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

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