# Leverage Shares -5x Short S&P 500 ETP (SSPY)

**Page:** https://fundology.uk/fund/sspy · ISIN XS3408767419

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 26/10/2026, SSPY (Leverage Shares -5x Short S&P 500 ETP, ISIN XS3408767419) closed at £16.62 on the London Stock Exchange. Its ongoing charge is 4.78% a year (about £478 on £10,000). Over the three years to 26/10/2026 its total return was −96.6%, or −97.0% after UK CPIH inflation.

## Summary

Leverage Shares -5x Short S&P 500 ETP is an exchange-traded product from Leverage Shares, launched in 2021. 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 4.78% a year — about £478 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:** Built for short-term trading. Because the multiple resets every day, losses can build up quickly when held for longer, even if the index ends up where it started.

Latest close: **£16.62** (26/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | SSPY |
| ISIN | XS3408767419 |
| Also listed as | SPYS (London Stock Exchange, US dollars), SSPE (London Stock Exchange, euros) |
| Category | Leveraged & inverse |
| Type | ETN / ETP |
| Provider | Leverage Shares |
| Tracks | State Street SPDR S&P 500 ETF |
| Income | Accumulating |
| Ongoing charge | 4.78% a year (£478 per £10,000) |
| Fund size | £1.4m |
| Launched | 2021 |
| Domicile | Ireland |

## Past returns (periods to 26/10/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -60.61% | -62.00% | income reinvested |
| 3 years | -96.65% | -96.97% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Charges compared with similar funds

Ongoing charge of Leverage Shares -5x Short S&P 500 ETP 4.78% a year. Compared on 27/10/2026, 4 of the 208 other leveraged and inverse products charge more, 17 the same and 187 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **4.78%** per year (as of 26/10/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## Questions people ask

**What is the ongoing charge of SSPY?**

The ongoing charge of SSPY is 4.78% a year — about £478 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 -5x Short S&P 500 ETP 4.78% a year. Compared on 27/10/2026, 4 of the 208 other leveraged and inverse products charge more, 17 the same and 187 less (share classes counted once).

**What does SSPY track?**

SSPY tracks the State Street SPDR S&P 500 ETF.

**Is SSPY accumulating or distributing?**

SSPY 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 SSPY?**

The ISIN of SSPY is XS3408767419. An ISIN identifies one exact share class of a fund; SSPY is its ticker on the London Stock Exchange. The same share class is also listed as SPYS (London Stock Exchange, US dollars) and SSPE (London Stock Exchange, euros).

**How has SSPY done after inflation?**

Over the three years to 26/10/2026 SSPY’s total return was −96.6%, or −97.0% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.