SATG vs UPAR

Comparison between Themes ETF Trust Leverage Shares 2X Long SATS Daily ETF (SATG, ETF) and UPAR ULTRA RISK PARITY ETF (UPAR, ETF).

SATG vs UPAR - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SATG(ETF)	UPAR(ETF)
Net Assets	$59M	$59M
Expense Ratio	N/A	0.68%
Max Drawdown	56.87%	43.05%
Sharpe Ratio	0.06	0.99
5Y Beta	3.09	0.55

Net Assets

SATG

$59M

Winner

UPAR

$59M

Expense Ratio

SATG

N/A

UPAR

0.68%

Max Drawdown

SATG

56.87%

Winner

UPAR

43.05%

Sharpe Ratio

SATG

0.06

Winner

UPAR

0.99

5Y Beta

SATG

3.09

Winner

UPAR

0.55

SATG vs UPAR - Holdings Comparison

SATG and UPAR have 0 common holdings. Overlap is 0.00%

SATG's top 25 holdings weight is 15.36%. UPAR's top 25 holdings weight is 111.63%.

Rank	SATG	UPAR
#1	FIRST AMERICAN TREASURY OBLIGS X (FXFXX) - 15.36%	n/a (n/a) - 14.73%
#2	N/A	SPDR® GOLD MINISHARES (GLDM) - 13.41%
#3	N/A	UNITED STATES TREASURY BONDS 1% (n/a) - 11.41%
#4	N/A	UNITED STATES TREASURY BONDS 0.75% (n/a) - 7.46%
#5	N/A	UNITED STATES TREASURY BONDS 1.38% (n/a) - 5.35%
#6	N/A	n/a (n/a) - 5.24%
#7	N/A	VANGUARD FTSE EMERGING MARKETS ETF (VWO) - 5.15%
#8	N/A	MSCI EAFE INDEX FUTURE SEPT 26 (n/a) - 4.72%
#9	N/A	UNITED STATES TREASURY BONDS 0.63% (n/a) - 4.34%
#10	N/A	UNITED STATES TREASURY BONDS 0.13% (n/a) - 4.32%
#11	N/A	UNITED STATES TREASURY BONDS 2.38% (n/a) - 4.17%
#12	N/A	UNITED STATES TREASURY BONDS 0.88% (n/a) - 3.83%
#13	N/A	OTHER ASSETS AND LIABILITIES (n/a) - 3.70%
#14	N/A	VANGUARD EXTENDED MARKET ETF (VXF) - 3.55%
#15	N/A	UNITED STATES TREASURY BONDS 1.5% (n/a) - 3.26%
#16	N/A	UNITED STATES TREASURY BONDS 2.13% (n/a) - 3.23%
#17	N/A	VANGUARD FTSE DEVELOPED MARKETS ETF (VEA) - 2.55%
#18	N/A	UNITED STATES TREASURY BONDS 0.25% (n/a) - 2.16%
#19	N/A	EXXONMOBIL HOLDINGS CORP (XOM) - 1.76%
#20	N/A	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 1.67%
#21	N/A	DEERE & CO (DE) - 1.65%
#22	N/A	BHP GROUP LTD ADR (BHP) - 1.17%
#23	N/A	CHEVRON CORP (CVX) - 1.05%
#24	N/A	RIO TINTO PLC ADR (RIO) - 0.92%
#25	N/A	SOUTHERN COPPER CORP (SCCO) - 0.83%
Total Holdings	1	149

SATG vs UPAR - Historical Returns

Returns include dividend reinvestment.

Period	SATG	UPAR
1 month	-42.30%	-2.92%
3 months	-29.20%	-3.21%
6 months	-33.59%	+0.64%
1 year	N/A	+16.96%
5 years(CAGR)	N/A	-1.47%
Max(CAGR)	-44.58%	-1.47%

SATG

-42.30%

Winner

UPAR

-2.92%

SATG

-29.20%

Winner

UPAR

-3.21%

SATG

-33.59%

Winner

UPAR

+0.64%

SATG

N/A

UPAR

+16.96%

5Y(CAGR)

SATG

N/A

UPAR

-1.47%

Max(CAGR)

SATG

-44.58%

Winner

UPAR

-1.47%

SATG vs UPAR - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	SATG	UPAR
2026	-36.96%	+3.93%
2025	+8.74%	+23.87%
2024	N/A	-1.95%
2023	N/A	+4.94%
2022	N/A	-30.27%

SATG vs UPAR Drawdown Comparison

The maximum drawdown for SATG was -56.87%, occurring on Jun 26, 2026. This drawdown has not yet recovered.

The maximum drawdown for UPAR was -38.97%, occurring on Oct 25, 2023. Recovery took 1030 trading sessions.

The current SATG drawdown is -53.30%. The current UPAR drawdown is -8.57%.

Rank	SATG	UPAR
#1	-56.87% Jan 14, 2026 - Jun 26, 2026	-38.97% Jan 12, 2022 - Feb 23, 2026
#2	-7.66% Jan 6, 2026 - Jan 8, 2026	-11.13% Mar 2, 2026 - Mar 27, 2026
#3	-6.30% Dec 22, 2025 - Jan 2, 2026	-2.22% Jan 4, 2022 - Jan 12, 2022
#4	-5.32% Dec 16, 2025 - Dec 19, 2025	N/A
#5	-3.68% Jan 12, 2026 - Jan 14, 2026	N/A
#6	-2.10% Jan 2, 2026 - Jan 6, 2026	N/A