{
 "ticker": "SNAG",
 "name": "Leverage Shares 2X Long SNAP Daily ETF",
 "issuer": "Leverage Shares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/SNAG",
 "html": "https://etfiq.com/funds/SNAG",
 "markdown": "https://etfiq.com/funds/SNAG.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: SNAG returned +1.4% where its own daily promise gave +4.9%, 3.5 points short.",
 "key_facts": [
  {
   "key": "what_snap_did",
   "label": "What SNAP did",
   "value": "+8.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SNAG, what SNAP did: +8.0%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "+4.9%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SNAG, what +2 times a day gives: +4.9%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+1.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SNAG, what the fund returned: +1.4%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22123.5 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "SNAG, the fund itself cost: \u22123.5 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$2m",
   "source": "issuer page, as of Sep 10, 2026",
   "as_of": "2026-09-11",
   "sentence": "SNAG, net assets: $2m (issuer page, as of Sep 10, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.75%",
   "source": "485BPOS XBRL, Dec 11, 2025",
   "as_of": "2026-09-11",
   "sentence": "SNAG, expense ratio: 0.75% (485BPOS XBRL, Dec 11, 2025)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of SNAP, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+0.17 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "SNAP",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$2m",
   "source": "issuer page, as of Sep 10, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.75%",
   "source": "485BPOS XBRL, Dec 11, 2025"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Dec 18, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "66% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+14.3%",
   "SNAP": "+9.2%",
   "+2x the move": "+18.5%",
   "Difference": "\u22124.2 pts",
   "SNAP moved about": "58%"
  },
  {
   "window": "3 months",
   "Fund": "+1.4%",
   "SNAP": "+8.0%",
   "+2x the move": "+16.0%",
   "Difference": "\u221214.6 pts",
   "SNAP moved about": "66%"
  },
  {
   "window": "6 months",
   "Fund": "+17.0%",
   "SNAP": "+24.6%",
   "+2x the move": "+49.1%",
   "Difference": "\u221232.1 pts",
   "SNAP moved about": "65%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221261.7%",
   "SNAP": "\u221225.6%",
   "+2x the move": "\u221251.1%",
   "Difference": "\u221210.6 pts",
   "SNAP moved about": "61%"
  }
 ],
 "questions": [
  {
   "q": "Did SNAG return +2 times SNAP?",
   "a": "Over the window to Sep 11, 2026, SNAP moved +8.0% and SNAG returned +1.4%. 2 times that move is +16.0%, so the fund came out 14.6 points short of it."
  },
  {
   "q": "Why does SNAG not return +2 times over a year?",
   "a": "Because it resets daily. SNAG aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}