BULG vs SPCZ

Comparison between LEVERAGE SHARES 2X LONG BULL DAILY ETF (BULG, ETF) and RIVERNORTH ENHANCED PRE-MERGER SPAC ETF (SPCZ, ETF).

BULG vs SPCZ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BULG(ETF)	SPCZ(ETF)
Net Assets	$6.40M	$6.30M
Expense Ratio	N/A	0.90%
Max Drawdown	94.15%	12.35%
Sharpe Ratio	-1.62	0.17
5Y Beta	4.86	-0.00
P/E Ratio	N/A	56.28
Debt to Equity	N/A	-0.03%
P/B Ratio	N/A	1.42

Net Assets

Winner

BULG

$6.40M

SPCZ

$6.30M

Expense Ratio

BULG

N/A

SPCZ

0.90%

Max Drawdown

BULG

94.15%

Winner

SPCZ

12.35%

Sharpe Ratio

BULG

-1.62

Winner

SPCZ

0.17

5Y Beta

BULG

4.86

Winner

SPCZ

-0.00

P/E Ratio

BULG

N/A

SPCZ

56.28

Debt to Equity

BULG

N/A

SPCZ

-0.03%

P/B Ratio

BULG

N/A

SPCZ

1.42

BULG vs SPCZ - Holdings Comparison

BULG and SPCZ have 0 common holdings. Overlap is 0.00%

BULG's top 25 holdings weight is 9.65%. SPCZ's top 25 holdings weight is 53.29%.

Rank	BULG	SPCZ
#1	FIRST AMERICAN TREASURY OBLIGS X (FXFXX) - 9.65%	STATE STREET INSTL US GOVT MMKT ADMIN (SALXX) - 3.43%
#2	N/A	LEGATO MERGER CORP III (LEGT) - 3.18%
#3	N/A	GRAF GLOBAL CORP CLASS A (GRAF) - 3.07%
#4	N/A	n/a (SOCA) - 2.46%
#5	N/A	n/a (AEAQ) - 2.36%
#6	N/A	n/a (BIXI) - 2.36%
#7	N/A	n/a (ZKP) - 2.35%
#8	N/A	n/a (UAC) - 2.35%
#9	N/A	n/a (SCII) - 2.34%
#10	N/A	LEGATO MERGER CORP IV (LEGO) - 2.34%
#11	N/A	n/a (SUMA) - 2.33%
#12	N/A	EQV VENTURES ACQUISITION CORP II CLASS A (EVAC) - 2.31%
#13	N/A	n/a (HCAC) - 2.26%
#14	N/A	INVEST GREEN ACQUISITION CORP CLASS A (IGAC) - 2.25%
#15	N/A	MOUNTAIN LAKE ACQUISITION CORP (n/a) - 1.80%
#16	N/A	GIGCAPITAL9 CORP CLASS A (GIX) - 1.80%
#17	N/A	n/a (AACPU) - 1.61%
#18	N/A	n/a (VECA-U) - 1.60%
#19	N/A	n/a (FMACU) - 1.59%
#20	N/A	n/a (MCAHU) - 1.59%
#21	N/A	n/a (MYXXU) - 1.59%
#22	N/A	n/a (BWIV-U) - 1.58%
#23	N/A	APERTURE AC UNITS (1 ORD CLS A & 1 RTS) (APURU) - 1.58%
#24	N/A	n/a (WENC-U) - 1.58%
#25	N/A	n/a (FXACU) - 1.58%
Total Holdings	1	183

BULG vs SPCZ - Historical Returns

Returns include dividend reinvestment.

Period	BULG	SPCZ
1 month	-12.22%	+0.59%
3 months	+40.92%	+1.52%
6 months	-54.64%	+1.75%
1 year	-87.60%	+4.01%
Max(CAGR)	-91.59%	+6.41%

BULG

-12.22%

Winner

SPCZ

+0.59%

Winner

BULG

+40.92%

SPCZ

+1.52%

BULG

-54.64%

Winner

SPCZ

+1.75%

BULG

-87.60%

Winner

SPCZ

+4.01%

Max(CAGR)

BULG

-91.59%

Winner

SPCZ

+6.41%

BULG vs SPCZ - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	BULG	SPCZ
2026	-48.69%	+1.88%
2025	-78.14%	+10.31%
2024	N/A	+5.42%
2023	N/A	+6.01%
2022	N/A	+1.95%

BULG vs SPCZ Drawdown Comparison

The maximum drawdown for BULG was -94.15%, occurring on Mar 30, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPCZ was -4.47%, occurring on Sep 3, 2024. Recovery took 34 trading sessions.

The current BULG drawdown is -89.17%. The current SPCZ drawdown is -3.51%.

Rank	BULG	SPCZ
#1	-94.15% Aug 15, 2025 - Mar 30, 2026	-4.47% Aug 7, 2024 - Sep 25, 2024
#2	-7.99% Aug 12, 2025 - Aug 15, 2025	-3.82% Apr 29, 2026 - Jun 10, 2026
#3	N/A	-3.51% Jun 10, 2026 - Jun 15, 2026
#4	N/A	-3.50% Jun 16, 2025 - Jul 23, 2025
#5	N/A	-2.86% Dec 29, 2025 - Apr 29, 2026
#6	N/A	-1.34% Oct 18, 2024 - Dec 23, 2024
#7	N/A	-1.21% Oct 15, 2025 - Dec 29, 2025
#8	N/A	-1.11% Dec 13, 2023 - Jan 4, 2024
#9	N/A	-1.00% Jul 25, 2025 - Aug 19, 2025
#10	N/A	-0.94% Oct 23, 2023 - Nov 2, 2023
#11	N/A	-0.88% Jan 4, 2024 - Feb 9, 2024
#12	N/A	-0.87% Feb 13, 2023 - Mar 30, 2023
#13	N/A	-0.87% Oct 3, 2024 - Oct 18, 2024
#14	N/A	-0.83% Jun 11, 2025 - Jun 16, 2025
#15	N/A	-0.79% Jul 14, 2022 - Oct 19, 2022

Correlation

Correlation between BULG and SPCZ is -0.59 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.59

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