ETN / ETP · Leverage Shares
SMC2 Leverage Shares 2x Long Super Micro Computer ETP
ISIN XS2944889109London Stock Exchange: SMC2Leverage Shares LLC
- Leveraged & inverse
- ETN / ETP
- ISA
- SIPP
- Accumulating
Latest close
LSE£2.09
on
- Ongoing charge
- 2.78% a year
- Fund size
- £1.7m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, SMC2 (Leverage Shares 2x Long Super Micro Computer ETP, ISIN XS2944889109) closed at £2.09 on the London Stock Exchange. Its ongoing charge is 2.78% a year (about £278 on £10,000). Over the year to 13/11/2026 its price changed by −84.2%, or −84.7% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- −84.2%
- −84.7% after inflation (UK CPIH)
Returns: worked out from recorded daily closes. Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of Leverage Shares 2x Long Super Micro Computer ETP in pounds (price, with income reinvested in the fund): 2025 −61.7%; 2026 to 13/11/2026 −73.7%. Returns of Leverage Shares 2x Long Super Micro Computer ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −78.2%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −73.7% | −74.5% | |
| to | −61.7% | −63.0% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −78.2% | −79.0% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
174.7%over 1 year
Annualised from weekly returns. Higher means bumpier.
- Largest fall since January 2025
- −96.5%
- From to
- Below its highest weekly close since January 2025
- 96.5%
- High of , latest
In words: Volatility of Leverage Shares 2x Long Super Micro Computer ETP in pounds, annualised from weekly returns to 13/11/2026: 174.7% over 1 year. Largest fall in the price of Leverage Shares 2x Long Super Micro Computer ETP since January 2025, in pounds: −96.5% from 21/02/2025 to 13/11/2026. On 13/11/2026 the price of Leverage Shares 2x Long Super Micro Computer ETP was 96.5% below its highest weekly close since January 2025 (21/02/2025), in pounds.
As of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 2.78%
- a year
- On £10,000
- £278
- a year, roughly
- Over five years
- £1,315
- of £10,000, before growth
- 138 charge less
- 3 the same
- 69 charge more
Ongoing charge of Leverage Shares 2x Long Super Micro Computer ETP 2.78% a year. Compared on 14/11/2026, 69 of the 210 other leveraged and inverse products charge more, 3 the same and 138 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
Leverage Shares 2x Long Super Micro Computer ETP is an exchange-traded product from Leverage Shares, launched in 2024.
It aims to deliver a multiple, or the opposite, of one day’s move in what it tracks. The multiple resets daily, so over longer periods its return can differ a lot from the multiple of the index return.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 2.78% a year — about £278 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
Leveraged & inverse: Products that multiply or reverse a single day’s move — for example three times the daily change of an index.
Terms:Index fundAccumulating or incomeLeveraged ETPsShare classISIN
Key facts
- Ticker
- SMC2
- ISIN
- XS2944889109
- Also listed as
- SMCI (London Stock Exchange, US dollars)
- Provider
- Leverage Shares
- Tracks
- Solactive 2x Long SMCI Index
- Structure
- ETN / ETP
- An exchange-traded note or product: a debt security that promises the return of an index. You also rely on the issuer.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 2.78% a year · about £278 on £10,000
- Fund size
- £1.7m
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- Leveraged & inverse
Price chart
Over the last year, the closing price went from £11.89 on 14/11/2025 to £2.09 on 13/11/2026 (−82.4%). The lowest close shown was £2.09 on 13/11/2026 and the highest £11.89 on 14/11/2025.
One close a week. Before 27/07/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded.
As of , at least 15 min delayed
Five years of prices, and after inflation
97 weekly closes, from 03/01/2025 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
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How we work it out:Prices and returnsNAV and price
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1 year, from weekly returns in pounds.
With a free accountLargest falls and recoveries
The 3 largest falls since January 2025, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Questions people ask
What is the ongoing charge of SMC2?
The ongoing charge of SMC2 is 2.78% a year — about £278 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Leverage Shares 2x Long Super Micro Computer ETP 2.78% a year. Compared on 14/11/2026, 69 of the 210 other leveraged and inverse products charge more, 3 the same and 138 less (share classes counted once).
What does SMC2 track?
SMC2 tracks the Solactive 2x Long SMCI Index.
Is SMC2 accumulating or distributing?
SMC2 is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
What is the ISIN of SMC2?
The ISIN of SMC2 is XS2944889109. An ISIN identifies one exact share class of a fund; SMC2 is its ticker on the London Stock Exchange. The same share class is also listed as SMCI (London Stock Exchange, US dollars).
What were SMC2’s returns in each of the last five years?
Calendar-year returns of SMC2 in pounds (price, with income reinvested in the fund): 2025 −61.7%; 2026 to 13/11/2026 −73.7%. Past performance is not a guide to future returns.
How has SMC2 done after inflation?
Over the year to 13/11/2026 SMC2’s price changed by −84.2%, or −84.7% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
Methodology:ReturnsCategoriesAll methods
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