XXXX vs. TERG

Last updated Jun 4, 2026

XXXX (MAX S&P 500 4X Leveraged ETN) and TERG (Leverage Shares 2X Long TER Daily ETF) are both Leveraged Equities funds. XXXX is passively managed, while TERG is actively managed. A 0.63 correlation means they provide meaningful diversification when combined. XXXX charges 2.95%/yr vs 0.75%/yr for TERG.

Performance

XXXX vs. TERG - Performance Comparison

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

Returns By Period

In the year-to-date period, XXXX achieves a 29.32% return, which is significantly lower than TERG's 229.64% return.

XXXX

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

TERG

• 1D: 8.49%
• 1M: 39.95%
• YTD: 229.64%
• 6M: 218.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XXXX vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
XXXX MAX S&P 500 4X Leveraged ETN	29.32%	6.71%
TERG Leverage Shares 2X Long TER Daily ETF	229.64%	28.17%

Correlation

The correlation between XXXX and TERG is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.63

Return for Risk

XXXX vs. TERG — 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.

XXXX vs. TERG - Risk-Adjusted Trends Comparison

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

	XXXX	TERG	Difference
Sharpe ratio: Return per unit of total volatility	1.86	—	—
Sortino ratio: Return per unit of downside risk	2.31	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.34	—	—
Martin ratio: Return relative to average drawdown	8.95	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XXXX	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	9.90	-9.03

Drawdowns

XXXX vs. TERG - Drawdown Comparison

The maximum XXXX drawdown since its inception was -62.27%, which is greater than TERG's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for XXXX and TERG.

Drawdown Indicators

	XXXX	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-62.27%	-49.52%	-12.75%
Max Drawdown (1Y) Largest decline over 1 year	-37.25%	—	—
Current Drawdown Current decline from peak	-2.88%	-15.98%	+13.10%
Average Drawdown Average peak-to-trough decline	-11.60%	-13.73%	+2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.73%	—	—

Volatility

Volatility by Period

	XXXX	TERG	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	46.83%	139.25%	-92.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.75%	139.25%	-78.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.75%	139.25%	-78.50%

XXXX vs. TERG - Expense Ratio Comparison

XXXX has a 2.95% expense ratio, which is higher than TERG's 0.75% expense ratio.

Dividends

XXXX vs. TERG - Dividend Comparison

Neither XXXX nor TERG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XXXX and TERG in my portfolio?

XXXX and TERG have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XXXX or TERG?

On fees, TERG 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, XXXX or TERG?

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

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

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

What is the main difference between XXXX and TERG?

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