Why Leverage Shares 2X Long HOOD Daily ETF (HOOG) Is Down 43% in the Last 30 Days
Key Takeaways
- HOOG has fallen roughly 43% over the trailing 30 days, as a steep selloff in Robinhood Markets (HOOD) shares was amplified by 2x daily leverage.
- Over the trailing quarter, the fund is down approximately 23%, with daily rebalancing compounding losses in a volatile market.
- The primary catalyst was Robinhood's third-quarter 2026 results, which missed expectations on diluted earnings per share (EPS) and crypto-related revenue.
- A broader cryptocurrency chill—including a slide in bitcoin and a major exchange security breach—weighed on Robinhood's transaction-based revenue.
- As a daily-reset leveraged product, HOOG is built for short-term trading and can experience substantial volatility drag over multi-day holding periods.
- For deeper technical and predictive context, explore Price Targets and Forecast pages covering this fund.
- Discover automated trading strategies through Trending AI Robots to complement your research workflow.
Leverage Shares 2X Long HOOD Daily ETF (HOOG) Overview and Portfolio Exposure
HOOG seeks daily investment results, before fees and expenses, equal to 200% (2x) of the daily percentage change in the common stock of HOOD, the commission-free brokerage and financial services platform. The fund is a single-stock leveraged product that obtains exposure primarily through swap agreements, with collateral held in U.S. Treasury obligations.
The portfolio is non-diversified and holds a small number of instruments—typically fewer than ten—centered on a total-return swap tied to HOOD and a Treasury money market fund for collateral. It carries a 0.75% total expense ratio and launched in March 2025 on the NASDAQ. Because it resets its leverage daily, HOOG is designed for short-term trading horizons; its concentrated, single-issuer structure means its performance is overwhelmingly driven by one stock.
Leverage Shares 2X Long HOOD Daily ETF (HOOG) Price Performance: Last 30 Days vs. Quarter
Over the trailing 30 days, HOOG declined from roughly $33.07 to about $18.95, a move of approximately -43%. The decline was sharp rather than gradual, punctuated by large single-session swings in late October.
Over the trailing quarter, the fund fell from about $24.63 to approximately $18.95, a decline of roughly -23%. Notably, the underlying HOOD stock fell far less over the same three-month span—reflecting the effect of daily rebalancing, which caused HOOG to underperform a simple 2x multiple of the underlying in a choppy, round-trip market environment.
What Drove HOOG Price in the Last 30 Days
The 30-day decline was driven almost entirely by the performance of Robinhood. In late October, Robinhood reported record quarterly revenue of $1.42 billion, up about 12% year over year, but diluted EPS fell roughly 16% to $0.51, missing consensus estimates near $0.55. Crypto revenue dropped about 55% year over year to roughly $120 million, and management indicated that October trading activity was trending below the third-quarter average.
The earnings disappointment triggered a multi-session selloff and a wave of analyst price-target reductions. Broader crypto-market weakness compounded the pressure: bitcoin declined sharply over the preceding months amid shifting interest-rate expectations and outflows from bitcoin exchange-traded funds (ETFs), while a reported major exchange security breach added to risk aversion across crypto-exposed names such as Coinbase (COIN) and Robinhood. The 2x daily leverage then magnified these moves into a much larger decline for HOOG.
What Drove HOOG Performance Over the Last Quarter
The three-month trend reflects a sharp up-and-down cycle rather than a straight-line decline. Robinhood rallied to a September peak above $120 per share—lifting HOOG toward its own highs—before reversing as crypto sentiment cooled and risk appetite faded. Higher-for-longer interest-rate expectations, bitcoin ETF outflows, and bouts of equity-market volatility prompted retail and speculative traders to pull back from high-beta, transaction-sensitive fintech names.
Because HOOG resets its 2x exposure each day, the round-trip in the underlying and elevated daily volatility generated meaningful volatility drag, causing the fund's quarterly loss to exceed twice the underlying stock's decline. This structural feature is a defining risk of daily-reset leveraged ETFs and explains much of the gap between HOOG's quarterly performance and that of Robinhood.
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HOOG ETF Outlook: What Investors Should Watch Next
Going forward, HOOG's trajectory will be tightly linked to Robinhood's fundamentals and to the crypto market's direction. Investors should monitor Robinhood's fourth-quarter earnings, expected in early 2027, for evidence that transaction volumes, take rates, and crypto revenue are stabilizing. The company's newer initiatives—including prediction markets, perpetual futures, international expansion, and its Robinhood Chain blockchain—represent potential growth drivers but also carry execution risk.
On the macro front, interest-rate expectations, inflation trends, and bitcoin price momentum remain key variables, given Robinhood's sensitivity to trading activity and crypto revenue. Elevated volatility is itself a headwind for daily-reset leveraged products, as rebalancing can erode returns even when the underlying moves sideways. Investors should weigh these structural risks and the fund's concentrated single-stock exposure carefully when evaluating its near-term outlook.
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
HOOG's RSI Oscillator recovers from oversold territory
The RSI Oscillator for HOOG moved out of oversold territory on November 09, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 7 similar instances when the indicator left oversold territory. In 7 of the 7 cases the stock moved higher. This puts the odds of a move higher at 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 12 of 12 cases where HOOG's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 90%.
Following a +12.34% 3-day Advance, the price is estimated to grow further. Considering data from situations where HOOG advanced for three days, in 87 of 93 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
HOOG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
HOOG moved below its 50-day moving average on October 07, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for HOOG crossed bearishly below the 50-day moving average on October 14, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 4 of 4 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 90%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where HOOG declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 90%.
The Aroon Indicator for HOOG entered a downward trend on November 11, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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