ETN / ETP · Leverage Shares
SPYO IncomeShares S&P500 Options ETP
ISIN XS2875106242London Stock Exchange: SPYOLeverage Shares LLC
Latest close
LSE£3.15
on
- Ongoing charge
- 0.73% a year
- Fund size
- £6.4m
As of , at least 15 min delayed
At a glance
As of 10/11/2026, SPYO (IncomeShares S&P500 Options ETP, ISIN XS2875106242) closed at £3.15 on the London Stock Exchange. Its ongoing charge is 0.73% a year (about £73 on £10,000). Over the year to 10/11/2026 its price changed by −24.8% (income paid out is not included), or −27.4% after UK CPIH inflation.
Past returns
- 1 year to 10/11/2026
- −24.8%
- −27.4% 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 IncomeShares S&P500 Options ETP in pounds (price only, income paid out not included): 2025 −45.6%; 2026 to 10/11/2026 −20.1%. Returns of IncomeShares S&P500 Options ETP in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −21.7%; to 30/09/2025: −44.2%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −20.1% | −22.7% | |
| to | −45.6% | −47.4% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −21.7% | −24.5% |
| from | −44.2% | −46.3% |
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)
13.1%over 1 year
Annualised from weekly returns. Higher means bumpier.
- Largest fall since August 2024
- −59.2%
- From to
- Lowest 12-month return
- −46.7%
- 12 months to
- Highest 12-month return
- −17.8%
- 12 months to
- Below its highest weekly close since August 2024
- 58.8%
- High of , latest
In words: Volatility of IncomeShares S&P500 Options ETP in pounds, annualised from weekly returns to 10/11/2026: 13.1% over 1 year. Largest fall in the price of IncomeShares S&P500 Options ETP since August 2024, in pounds: −59.2% from 30/08/2024 to 06/11/2026. The lowest 12-month return of IncomeShares S&P500 Options ETP in pounds (price only, income paid out not included) since August 2024 was −46.7% (12 months to 30/01/2026); the highest was −17.8% (12 months to 05/06/2026). On 10/11/2026 the price of IncomeShares S&P500 Options ETP was 58.8% below its highest weekly close since August 2024 (30/08/2024), in pounds.
As of , price only — income paid out is not included
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.73%
- a year
- On £10,000
- £73
- a year, roughly
- Over five years
- £360
- of £10,000, before growth
- 249 charge less
- 0 the same
- 4 charge more
Ongoing charge of IncomeShares S&P500 Options ETP 0.73% a year. Compared on 11/11/2026, 4 of the 253 other US share funds charge more, 0 the same and 249 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
IncomeShares S&P500 Options ETP is an exchange-traded product from Leverage Shares, launched in 2024.
It tracks the No Underlying Index.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.73% a year — about £73 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Income from its investments is paid out to holders as cash, usually a few times a year.
US shares: American companies, including the S&P 500 and Nasdaq-100 — the largest stock market in the world.
Key facts
- Ticker
- SPYO
- ISIN
- XS2875106242
- Also listed as
- SPYY (London Stock Exchange, US dollars), DSPY (Xetra, euros)
- Provider
- Leverage Shares
- Tracks
- No index — the manager chooses the holdings
- 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
- Distributing, paid monthly
- Income is paid out to holders as cash, usually a few times a year.
- Ongoing charge
- 0.73% a year · about £73 on £10,000
- Fund size
- £6.4m
- 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
- US shares
Price chart
Over the last year, the closing price went from £4.24 on 14/11/2025 to £3.15 on 10/11/2026 (−25.8%). The lowest close shown was £3.12 on 06/11/2026 and the highest £4.30 on 28/11/2025.
One close a week. Before 23/10/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price only — income paid out is not included.
As of , at least 15 min delayed
Five years of prices, and after inflation
116 weekly closes, from 30/08/2024 to 10/11/2026. 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
Sign-up takes an email address. There is no card to enter and nothing to pay.
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 accountRolling returns
The full range of 64 rolling 12-month returns since August 2024, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The largest fall since August 2024, in pounds, with how many weeks it took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Moves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core S&P 500 UCITS ETF, over the three years to 10/11/2026 (113 weeks).
Pro
Pro — currently by invitation
Pro includes moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of SPYO?
The ongoing charge of SPYO is 0.73% a year — about £73 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 IncomeShares S&P500 Options ETP 0.73% a year. Compared on 11/11/2026, 4 of the 253 other US share funds charge more, 0 the same and 249 less (share classes counted once).
Is SPYO accumulating or distributing?
SPYO is distributing: income is paid out to holders as cash, usually a few times a year. It pays out monthly.
What is the ISIN of SPYO?
The ISIN of SPYO is XS2875106242. An ISIN identifies one exact share class of a fund; SPYO is its ticker on the London Stock Exchange. The same share class is also listed as SPYY (London Stock Exchange, US dollars) and DSPY (Xetra, euros).
What were SPYO’s returns in each of the last five years?
Calendar-year returns of SPYO in pounds (price only, income paid out not included): 2025 −45.6%; 2026 to 10/11/2026 −20.1%. Past performance is not a guide to future returns.
How has SPYO done after inflation?
Over the year to 10/11/2026 SPYO’s price changed by −24.8% (income paid out is not included), or −27.4% 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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