Data as of .
TERC vs TERG: which held to its multiple?
Over the days both have traded, TERC finished 3.4 points from its stated multiple and TERG 3.6.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| TERC | TERG | TERC | TERG | TERC | TERG | |
| 1 month | −14.7% | −14.9% | −11.4% | −11.4% | −3.4 pts | −3.6 pts |
| 3 months | not published | −29.6% | not published | −11.6% | not published | −18.0 pts |
| 6 months | not published | +11.9% | not published | +65.3% | not published | −53.5 pts |
| Since launch | +10.7% | +179.0% | +21.4% | not meaningful | −10.7 pts | not meaningful |
| TERC Corgi TER 2x Daily ETF Aims to return twice the daily move of TER | TERG Leverage Shares 2X Long TER Daily ETF Aims to return twice the daily move of TER | |
|---|---|---|
| Issuer | Corgi | Leverage Shares |
| Sets out to return | +2x | +2x |
| On | TER | TER |
| Segment | company | company |
| Fund returned, 3 months | −14.7% | −29.6% |
| Underlying returned, 3 months | −5.7% | −5.8% |
| What the stated multiple implies, 3 months | −11.4% | −11.6% |
| Difference from stated, 3 months | −3.4 pts | −18.0 pts |
| Fund returned, 1 year or since launch | +10.7% | +179.0% |
| Difference from stated, over that window | −10.7 pts | not available |
| Underlying volatility | 60% | 88% |
| Difference over the days both have traded | −3.4 pts | −3.6 pts |
| Expense ratio | not published | 0.75% |
| Launched | Jul 7, 2026 | Nov 17, 2025 |
TERC in plain words
One month to Sep 11, 2026: TERC returned −14.7% where its own daily promise gave −13.8%, 0.9 points short. Read the multiple against the whole window instead and +2 times TER's −5.7% implies −11.4%, which makes TERC look 3.4 points short. 2.4 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. TERC aims to return +2 times TER's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. TER moved at 60% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
TERG in plain words
Three months to Sep 11, 2026: TERG returned −29.6% where its own daily promise gave −26.9%, 2.7 points short. Read the multiple against the whole window instead and +2 times TER's −5.8% implies −11.6%, which makes TERG look 18.0 points short. 15.3 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. TERG aims to return +2 times TER's move each day, then resets. TER moved at 88% annualized over that window.
Questions people ask
- Which came closer to its stated multiple, TERC or TERG?
- Over the window to Sep 11, 2026, TERC finished 3.4 points from what its multiple implies and TERG finished 18.0 points from its own, so TERC came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are TERC and TERG levered on the same thing?
- Yes. Both are levered on TER, TERC at +2 times and TERG at +2 times the daily move.
- Which one decays faster, TERC or TERG?
- Decay follows how much the underlying moves about. Over this window TERC’s moved at 60% annualized and TERG’s at 88%, so TERG has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold TERC or TERG for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, TERC against TERG, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/TERC-TERG Free to use with attribution; the underlying files are at Open data.