Ticker:
DSPC
1x Short SPCX Daily ETF
Expense Ratio: 0.99%
*Short-term investment. Inverse funds carry significant risk.
SKHX 2x Long SK Hynix Daily ETF
Short-term investment. Leveraged funds carry significant risk. See prospectus for details.
Explore SKHXOverview
What is the DSPC ETF?
The Leverage Shares 1x Short SPCX Daily ETF (DSPC) is a 1x Daily Inverse (Bear) exchange traded fund (ETF) designed to provide -100% (-1x) the daily performance of SpaceX stock (SPCX), minus fees and expenses. This product allows sophisticated investors and active traders to gain inverse exposure to a single stock through a regulated, liquid inverse ETF structure listed on Cboe - without the operational burden of short-selling or a margin account.
Fund Objective
To seek daily investment results, before fees and expenses, that correspond to -100% (-1x) the daily performance of the underlying stock (SPCX).
Who is this fund for?
Sophisticated investors and active traders seeking to express short-term bearish views on SPCX or tactically hedge long positions, via transparent inverse exposure and without using a margin account or borrowing shares to short.
Trading 24/5 Around the clock
Times are US Eastern (ET; EST/EDT). 24/5 refers to Monday–Friday extended and overnight trading. Trading availability varies by broker and venue and may involve additional risks.
Key Facts
Key Information
As of 08/27/2026
Trading Details
As of 08/27/2026
Distributions
As of 08/27/2026
2025 Distribution Schedule
Distribution Schedule (.xlsx)*The 30-day SEC yield is a standardized calculation used for bond funds, specifically those registered with the U.S. Securities and Exchange Commission (SEC). It represents the net investment income (dividends and interest) earned over the last 30 days, after deducting expenses, and expressed as an annualized rate.
Distributions are not guaranteed.
ETF Prices
As of 08/26/2026
Holdings & Characteristics
Fund Holdings*
As of 08/27/2026
*Holdings Subject to Change
The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily inverse (-1x) investment results and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. For periods longer than a single day, the Fund will lose money if the performance of the Underlying Security is flat, and it is possible that the Fund will lose money even if the performance of the Underlying Security decreases over a period longer than a single day. Periods of greater Underlying Security volatility may affect the Fund’s return as much as, or more than, the return of the Underlying Security. An investor could lose the full principal value of his/her investment within a single day if the price of the Underlying Security increases by more than 100% in one trading day. Investing in the Fund is not equivalent to investing directly in the Underlying Security.
Because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from -100% of the return of the Underlying Security over the same period. The Fund will lose money if the Underlying Security’s performance is flat over time, and as a result of daily rebalancing, the Underlying Security’s volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Underlying Security’s performance decreases over a period longer than a single day.
Sector & Country Breakdown
Performance
Performance History
Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (NBBO) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. NAVs are calculated using prices as of 4:00 PM Eastern Time. Indices are unmanaged and do not include the effect of fees, expenses, or sales charges. One cannot invest directly in an index.
Key Features & Competitive Advantages
Extended Trading Access
DSPC can be traded through US extended and overnight sessions, Monday to Friday, well beyond regular market hours. This gives active traders more windows to react to news and manage positions as events unfold.
Risk Management (No Margin Calls)
Unlike short-selling - where losses are theoretically unlimited if the underlying rises - investors in DSPC cannot lose more than their initial investment. There is no risk of a broker issuing a margin call, forcing a buy-to-cover, or charging share-borrow fees. This provides a defined-risk structure for expressing a bearish view.
Institutional-Grade Collateral
The fund’s synthetic exposure is backed by US Treasury Obligations, providing a layer of safety and credit quality regarding the fund's assets, distinct from competitors that may hold lower-grade cash equivalents.
High Liquidity & Access
Traded on Cboe, DSPC offers intraday liquidity with tight , allowing traders to enter and exit bearish positions instantly during market hours without the complexity of put , the operational requirements of locating and borrowing shares to short, or the margin demands of contracts.
Frequently Asked Questions about DSPC
The Leverage Shares 1x Short SPCX Daily ETF (DSPC) features a total expense ratio of 0.99%.
DSPC is designed for short-term trading (intraday or daily). While you can hold the Leverage Shares 1x Short SPCX Daily ETF longer, the fund rebalances daily to maintain its 1x inverse target on SpaceX stock (SPCX). Over time, this daily rebalancing may cause your returns to differ significantly from the inverse of the underlying SpaceX (SPCX) stock due to volatility decay.
An investor in DSPC can lose the full value of their investment if the underlying SpaceX stock (SPCX) rises by more than 100% in a single trading day. Because DSPC is a 1x short fund, it loses value when SpaceX (SPCX) climbs. However, unlike short-selling on margin, you cannot lose more than your initial investment in the Leverage Shares 1x Short SPCX Daily ETF (you cannot go into debt or face a margin call).
An inverse ETF is an exchange-traded fund that uses financial derivatives to deliver the opposite of the daily returns of an underlying stock or benchmark. The Leverage Shares 1x Short SPCX Daily ETF (DSPC) is a single-stock inverse ETF that aims to return -1x the daily performance of SpaceX stock (SPCX) — if SpaceX (SPCX) falls 1% in a day, DSPC targets a 1% gain; if SpaceX (SPCX) rises 1%, DSPC targets a 1% loss.
The Leverage Shares 1x Short SPCX Daily ETF (DSPC) typically uses derivatives like total return , contracts, and to deliver 1x inverse daily exposure to SpaceX stock (SPCX). The fund manager rebalances these short positions daily to maintain DSPC's target inverse leverage ratio against SpaceX stock (SPCX), without requiring investors to borrow shares or open a margin account.
The 1x inverse leverage target of the Leverage Shares 1x Short SPCX Daily ETF (DSPC) applies to single-day returns, not longer periods. Each day, DSPC rebalances to restore its 1x inverse leverage ratio against SpaceX (SPCX) based on the new net asset value. This daily reset is fundamental to how DSPC and other inverse leveraged ETFs work.
Because of daily rebalancing, the Leverage Shares 1x Short SPCX Daily ETF (DSPC) can lose value over time even if SpaceX stock (SPCX) ends up flat, particularly in choppy, volatile markets. When SpaceX (SPCX) moves up and down repeatedly, the compounding of DSPC's daily inverse leveraged returns erodes value. This effect intensifies with DSPC's -1x leverage and with greater volatility in SpaceX (SPCX) shares.
Generally no. The Leverage Shares 1x Short SPCX Daily ETF (DSPC) is designed for short-term tactical trading and hedging, often single-day holds, for traders expressing a bearish view on SpaceX (SPCX). Holding DSPC for weeks or months can produce returns that diverge significantly from -1x the performance of SpaceX stock (SPCX) over that period, sometimes dramatically so in volatile markets.
