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ISIN:
XS2595672382
-5x Short 20+ Year Treasury Bond
NAV as of 30 Oct 2026, 12:00 AM UTC
$16.79 (-2.10%)
Year-To-Date Change
5.57%
-
LSE
-
Xetra
Capital at risk. NAV calculated by Leverage Shares. For more information on the calculation please click here
More Leverage Factors:
Overview
What is the -5x Short 20+ Year Treasury Bond ETP?
The Leverage Shares -5x Short 20+ Year Treasury Bond ETP (ISIN XS2595672382) is an exchange traded product (ETP) that seeks to deliver minus five times (-5x) the daily performance of the iShares 20+ Year Treasury Bond ETF. It achieves leverage through margin borrowing, so it does not use swaps or other derivatives to achieve its exposure. Exposure is rebalanced daily, and an intraday rebalance mechanism ("airbag") is designed to cushion the largest intra-day moves, triggering at 10%. You cannot lose more than the amount you invest. The Leverage Shares -5x Short 20+ Year Treasury Bond ETP has an annual management fee of 0.75% and is listed on the following exchanges: London Stock Exchange, Deutsche Börse Xetra. It is designed for short term trading and should be monitored daily.
ETP objective
To seek daily investment results, before fees and expenses, that correspond to -500% (-5x) the daily performance of the underlying stock (TLT).
Who is this product for?
Sophisticated investors and active traders seeking to express short-term bearish views or tactically hedge positions, via inverse exposure and without a margin account.
*However, these are complex products.
Value of Underlying Assets
$-1,218,107
or -14,884 shares of TLT
AUM
$243,674
or 14,514 shares of TL5S
Liabilities
$1,461,780
Listings & Tickers
Key Facts
Net Asset Value
- NAV (as of 30 Oct 2026)
- $16.79
- Daily Return (% NAV change)
- -2.10%
- Daily Change (of NAV)
- $-0.36
Structure
- Structure
- ETP
- Domicile
- Ireland
- Replication Method
- Physical
- Dividends
- Reinvested
- Underlying Asset
- TLT
- Target Weights
- Rebalance Frequency
Fees
- Annual Management Fee
- 0.75%
- Interest Paid On Cash Balances
- Fed Funds Effective
(Overnight Rate) - 1%
- Performance Fee
- Stock Borrow Rate
- 1.28%
Tax & Legal
- ISA
- Eligible
- SIPP
- Eligible
- UK Fund Reporting Status
- Yes (effective 15/05/2023)
- US IRS Sec 871(m)
- Not applicable
Passported Countries:
United Kingdom
Italy
Germany
France
Spain
Netherlands
Ireland
Poland
Belgium
Sweden
Norway
Austria
* The information on this website regarding UK Fund Reporting Status is accurate as of the stated effective date (the "Effective Date"). Leverage Shares makes no representation or warranty that such information will remain accurate, complete or current thereafter, assumes no obligation to update it, and, to the fullest extent permitted by applicable law, accepts no responsibility or liability for any inaccuracies or omissions arising after the Effective Date.
Key Services Providers
- Issuer
- Leverage Shares plc
- Arranger
- Leverage Shares Management Company Limited
- Trustee
- Apex Corporate Trustees (UK) Limited
- Issuing and Paying Agent
- U.S. Bank Europe DAC
- Registrar
- U.S. Bank Europe DAC
- Portfolio Administrators
- Flexinvest Limited
- Stock Borrowing Provider and Custodian
- Interactive Brokers LLC, Morgan Stanley & Co. LLC and/or Pershing LLC
- Determination Agent
- Calculation Agent Services LLC
- Initial Authorised Participant
- BNP Paribas Arbitrage S.N.C.,Virtu Financial Ireland Limited, Flow Traders and others
- Sponsor
Fact Sheet
Reportable Income
UK Fund Reporting
EMT
Supplemental Trust Deeds
Supplement (CBI)
07 July 2026
Supplement (FCA)
07 July 2026
Prospectus (CBI)
11 June 2026
Prospectus (FCA)
09 June 2026
Prospectus (CBI)
13 March 2026
Prospectus (FCA)
13 March 2026
Prospectus (CBI)
23 June 2025
Prospectus (FCA)
23 June 2025
Prospectus (CBI)
17 July 2024
Prospectus (FCA)
17 July 2024
Prospectus (CBI)
15 March 2024
Prospectus (FCA)
15 March 2024
Prospectus (CBI)
18 October 2023
Prospectus (FCA)
18 October 2023
Prospectus (CBI)
04 May 2023
Prospectus (FCA)
04 May 2023
Supplement
01 June 2022
Prospectus
16 May 2022
Prospectus
07 December 2021
Supplement
08 October 2021
Supplement
17 September 2021
Supplement
06 May 2021
Supplement
04 March 2021
Prospectus
18 December 2020
Prospectus
06 November 2020
Prospectus
05 February 2020
Financial Year Ended
30.06.2026
Half Financial Year Ended
31.12.2025
Financial Year Ended
30.06.2025
Half Financial Year Ended
31.12.2024
Financial Year Ended
30.06.2024
Half Financial Year Ended
31.12.2023
Financial Year Ended
30.06.2023
Half Financial Year Ended
31.12.2022
Financial Year Ended
30.06.2022
Half Financial Year Ended
31.12.2021
Financial Year Ended
30.06.2021
Half financial year ended
31.12.2020
Financial Year Ended
30.06.2020
Half Financial Year Ended
31.12.2019
For the Year Ended
30.06.2019
From 01.07.18 to 31.12.18
31.12.2018
From 27.01.17 to 30.06.18
30.06.2018
Notices
Latest Notice
30.10.2026
Replacement of Broker Dealer
30.10.2026
Termination of AP Agreement
29.10.2026
Notices of Investment Strategy Modifications
18.09.2026
Batch Notification
11.09.2026
Notice Appointment of Authorised Participants
26.08.2026
Notification of New Series
21.07.2026
Batch Notification
19.06.2026
Notice to ETP Securityholders
03.06.2026
Notices of Investment Strategy Modifications
21.05.2026
Batch Notification
30.04.2026
Notification of New Series
24.03.2026
Notification of New Series
23.03.2026
Batch Notification
11.03.2026
Notices of Investment Strategy Modifications
31.10.2025
Notice of Publication of Audited Financial Statements
06.08.2025
Updated to IB Margin Account Agreement
08.05.2025
Notice Appointment of Additional Authorised Participant
16.01.2025
Notice to ETP Securityholders
02.10.2024
Notice of Amended & Restated Margin Account Agreement
29.07.2024
Notice of Appointment of Pershing as Additional Margin Load Provider
17.07.2024
Notice of Deed of Amendment and Restatement
02.11.2023
Notice of Late Filing of Audited Financial Report
19.10.2023
Notice to ETP Securityholders
20.09.2023
Notice of Migration to IB LLC
04.05.2023
Notice of Amended and Restated Conditions
Frequently Asked Questions about the -5x Short 20+ Year Treasury Bond ETP
The Leverage Shares -5x Short 20+ Year Treasury Bond ETP (ISIN XS2595672382) is an exchange traded product (ETP) that seeks to deliver minus five times (-5x) the daily performance of the iShares 20+ Year Treasury Bond ETF. It is listed on the following exchanges: London Stock Exchange, Deutsche Börse Xetra.
The Leverage Shares -5x Short 20+ Year Treasury Bond ETP has an annual management fee of 0.75%.
The Leverage Shares -5x Short 20+ Year Treasury Bond ETP achieves its short exposure to the iShares 20+ Year Treasury Bond ETF through short selling. It borrows securities and sells them at the current market price, and the proceeds of the sale are held in its margin account. Over a single day, its value is expected to rise when the underlying falls and to fall when the underlying rises, excluding fees and costs.
The Leverage Shares -5x Short 20+ Year Treasury Bond is an exchange traded product, not an ETF. ETPs are structured as debt securities and lie outside the remit of UCITS. While not UCITS compliant, they may be UCITS eligible, meaning they are capable of being an eligible investment for another UCITS fund. It trades on exchange in the same way as a share.
The Leverage Shares -5x Short 20+ Year Treasury Bond ETP is designed for short term trading. It rebalances daily to maintain its -5x exposure to the iShares 20+ Year Treasury Bond ETF. Held for longer than one day, returns may differ from -5x the return of the underlying over that period, because of daily rebalancing and compounding.
Volatility decay is the effect of daily rebalancing and compounding on a leveraged product. When the iShares 20+ Year Treasury Bond ETF moves up and down repeatedly, compounding erodes value, and the effect is stronger the higher the leverage and the longer the holding period. This means the Leverage Shares -5x Short 20+ Year Treasury Bond ETP can lose value over time even if the underlying ends up flat.
An investor in the Leverage Shares -5x Short 20+ Year Treasury Bond ETP cannot lose more than the amount they invest. You could lose the full value of your investment if the iShares 20+ Year Treasury Bond ETF moves against the ETP by more than one-fifth (roughly 20%) in a single day. An intraday rebalance mechanism ("airbag") is designed to cushion the largest intra-day moves, triggering at 10%.
Yes. Alongside the Leverage Shares -5x Short 20+ Year Treasury Bond ETP, the Leverage Shares 5x Long 20+ Year Treasury Bond ETP (ISIN XS2595672036) provides 5x exposure to the iShares 20+ Year Treasury Bond ETF.
The Leverage Shares -5x Short 20+ Year Treasury Bond ETP does not pay dividends.
The Leverage Shares -5x Short 20+ Year Treasury Bond ETP is designed for short term trading, not long-term investing. Investing in Short and Leveraged ETPs is only suitable for sophisticated traders who understand leverage, daily rebalancing and compounded daily returns. Only use these ETPs if you can monitor your positions daily.
The Leverage Shares -5x Short 20+ Year Treasury Bond ETP is 100% backed with the underlying using a margin loan for long ETPs and with cash for short ETPs. Leverage Shares does not use derivatives, like swaps, to offer leveraged exposures.
Experienced investors may use the Leverage Shares -5x Short 20+ Year Treasury Bond ETP for a variety of strategies. Some examples include responding to technical indicators, acting on earnings or news announcements, and hedging existing exposures in a portfolio. The recommended holding period is one day.
The Leverage Shares -5x Short 20+ Year Treasury Bond ETP can be traded through brokerage accounts that have access to the exchanges where it is listed. It trades on the following exchanges, each with the ticker(s) to search on that exchange:
- London Stock Exchange: TL5S (USD), 5STL (GBP)
- Deutsche Börse Xetra: 5STL (EUR)
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