{
 "ticker": "TERG",
 "name": "Leverage Shares 2X Long TER Daily ETF",
 "issuer": "Leverage Shares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/TERG",
 "html": "https://etfiq.com/funds/TERG",
 "markdown": "https://etfiq.com/funds/TERG.md",
 "as_of": "2026-09-11",
 "verdict": "Three months to Sep 11, 2026: TERG returned \u221229.6% where its own daily promise gave \u221226.9%, 2.7 points short.",
 "key_facts": [
  {
   "key": "what_ter_did",
   "label": "What TER did",
   "value": "\u22125.8%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TERG, what TER did: \u22125.8%, as of Sep 11, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What +2 times a day gives",
   "value": "\u221226.9%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TERG, what +2 times a day gives: \u221226.9%, as of Sep 11, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221229.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TERG, what the fund returned: \u221229.6%, as of Sep 11, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22122.7 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "TERG, the fund itself cost: \u22122.7 pts, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$8m",
   "source": "issuer page, as of Sep 10, 2026",
   "as_of": "2026-09-11",
   "sentence": "TERG, net assets: $8m (issuer page, as of Sep 10, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.75%",
   "source": "485BPOS XBRL, Oct 23, 2025",
   "as_of": "2026-09-11",
   "sentence": "TERG, expense ratio: 0.75% (485BPOS XBRL, Oct 23, 2025)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of TER, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+5.11 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "TER",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$8m",
   "source": "issuer page, as of Sep 10, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.75%",
   "source": "485BPOS XBRL, Oct 23, 2025"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Nov 17, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "88% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221214.9%",
   "TER": "\u22125.7%",
   "+2x the move": "\u221211.4%",
   "Difference": "\u22123.6 pts",
   "TER moved about": "60%"
  },
  {
   "window": "3 months",
   "Fund": "\u221229.6%",
   "TER": "\u22125.8%",
   "+2x the move": "\u221211.6%",
   "Difference": "\u221218.0 pts",
   "TER moved about": "88%"
  },
  {
   "window": "6 months",
   "Fund": "+11.9%",
   "TER": "+32.7%",
   "+2x the move": "+65.3%",
   "Difference": "\u221253.5 pts",
   "TER moved about": "86%"
  },
  {
   "window": "Since launch",
   "Fund": "+179.0%",
   "TER": "+127.2%",
   "+2x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "TER moved about": "77%"
  }
 ],
 "questions": [
  {
   "q": "Did TERG return +2 times TER?",
   "a": "Over the window to Sep 11, 2026, TER moved \u22125.8% and TERG returned \u221229.6%. 2 times that move is \u221211.6%, so the fund came out 18.0 points short of it."
  },
  {
   "q": "Why does TERG not return +2 times over a year?",
   "a": "Because it resets daily. TERG 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."
  },
  {
   "q": "Which +2x TER ETF tracked its stated multiple most closely?",
   "a": "2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}