# USGG (Leverage Shares 2X Long USAR Daily ETF)

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

Three months to Sep 30, 2026: USGG returned −59.4% where its own daily promise gave −57.3%, 2.2 points short.

## Key facts

- USGG, what USAR did: −29.5%, as of Sep 30, 2026.
- USGG, what 2 times a day gives: −57.3%, as of Sep 30, 2026.
- USGG, what the fund returned: −59.4%, as of Sep 30, 2026.
- USGG, the fund itself cost: −2.2 pts, as of Sep 30, 2026.
- USGG, net assets: $11m (issuer page, as of Sep 29, 2026).
- USGG, expense ratio: 0.75% (485BPOS XBRL, Jan 9, 2026).

## USGG over each window to Sep 30, 2026

| Window | Fund | USAR | +2x the move | Difference | USAR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −40.0% | −21.0% | −42.0% | +1.9 pts | 55% |
| 3 months | −59.4% | −29.5% | −59.1% | −0.4 pts | 78% |
| 6 months | −46.9% | −4.9% | −9.7% | −37.1 pts | 95% |
| Since launch | −69.3% | −15.5% | −31.1% | −38.2 pts | 101% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of USAR, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.01 times, against +2 stated | ETFIQ |
| Underlying | USAR | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $11m | issuer page, as of Sep 29, 2026 |
| Expense ratio | 0.75% | 485BPOS XBRL, Jan 9, 2026 |
| Launched | Jan 13, 2026 | ETFIQ |
| Underlying volatility over the window | 78% annualized | ETFIQ |

## Questions

### Did USGG return +2 times USAR?

Over the window to Sep 30, 2026, USAR moved −29.5% and USGG returned −59.4%. 2 times that move is −59.1%, so the fund came out 0.4 points short of it.

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

Because it resets daily. USGG 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 USAR 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, USGG, data as of Sep 30, 2026. https://etfiq.com/funds/usgg
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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