# TERG (Leverage Shares 2X Long TER Daily ETF)

Leverage Shares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: TERG returned −27.2% where its own daily promise gave −25.4%, 1.8 points short.

## Key facts

- TERG, what TER did: −6.2%, as of Sep 30, 2026.
- TERG, what 2 times a day gives: −25.4%, as of Sep 30, 2026.
- TERG, what the fund returned: −27.2%, as of Sep 30, 2026.
- TERG, the fund itself cost: −1.8 pts, as of Sep 30, 2026.
- TERG, net assets: $17m (issuer page, as of Sep 29, 2026).
- TERG, expense ratio: 0.75% (485BPOS XBRL, Oct 23, 2025).

## TERG over each window to Sep 30, 2026

| Window | Fund | TER | +2x the move | Difference | TER moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +25.3% | +14.6% | +29.3% | −4.0 pts | 65% |
| 3 months | −27.2% | −6.2% | −12.3% | −14.9 pts | 80% |
| 6 months | +4.2% | +28.5% | +57.0% | −52.8 pts | 86% |
| Since launch | +200.5% | +139.9% | not meaningful over this window | not meaningful over this window | 77% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of TER, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +4.43 times, against +2 stated | ETFIQ |
| Underlying | TER | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $17m | issuer page, as of Sep 29, 2026 |
| Expense ratio | 0.75% | 485BPOS XBRL, Oct 23, 2025 |
| Launched | Nov 17, 2025 | ETFIQ |
| Underlying volatility over the window | 80% annualized | ETFIQ |

## Questions

### Did TERG return +2 times TER?

Over the window to Sep 30, 2026, TER moved −6.2% and TERG returned −27.2%. 2 times that move is −12.3%, so the fund came out 14.9 points short of it.

### Why does TERG not return +2 times over a year?

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.

### Which +2x TER ETF tracked its stated multiple most closely?

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 figure itself.


## Cite this page

ETFIQ, TERG, data as of Sep 30, 2026. https://etfiq.com/funds/terg
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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