SSPCLeverage Shares 2X Short SPCX Daily ETF
Seeks daily investment results of -200% (minus two times) the daily price change of Space Exploration Technologies Corp. (SPCX) common stock.
By Themes ETF Trust · Launched 2026
0.75%
#3,905 of 5,822 · expensive
$64M
#3,412 of 5,822 · mid-size
N/A
2 months
#5,664 of 5,822 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundAsset class
EquityStrategy
Inverse
What it actually holds
By weightConcentration
single-stock bet — holdings shown are derivatives collateral, not diversification
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks daily investment results of -200% (minus two times) the daily price change of Space Exploration Technologies Corp. (SPCX) common stock.
- Strategy
- Actively managed ETF providing -200% daily inverse leveraged exposure to the common stock of Space Exploration Technologies Corp. (SPCX) via swap agreements and options (synthetic short forwards: long put + short call), plus limited direct holdings. The Adviser rebalances daily to maintain the -200% short exposure; returns over periods longer than one trading day diverge from -200% due to compounding. Concentrated in the industry to which SPCX is assigned.
- Inception date
- June 12, 2026
- Fund family
- Themes ETF Trust
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Most of these lose money
These funds amplify one stock's daily move, then reset every day. More than half of them have lost money outright, and the daily reset plus financing costs drag roughly 9.5% a year off the return. The longer you hold, the more that compounding works against you.
You can be right and still lose
This fund returns the opposite of its benchmark's daily move, then resets. Hold it longer and the daily compounding takes over: the market can move your way over a week and you still finish down. It works as a one-day hedge and nothing beyond that.
Sources: Bessembinder, 'Leveraged Single-Stock ETFs' (SSRN 2025) · Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-01