At a glance
BEGS charges 0.99% a year. It has $2.4M in assets; it paid 67.83% of its price in distributions over the past 12 months, annual. Over the past year it returned −38.8% with distributions reinvested (S&P 500: +11.5%).
The short version
The Rareview 2x Bull Cryptocurrency & Precious Metals ETF (BEGS) uses swaps, contracts that pay an asset's return, to stack two bets: bitcoin and ether, plus gold and silver, each sized at 100% of assets for 200% total exposure. It may suit investors who want crypto and precious metals in one leveraged, actively managed fund. The catch: leverage magnifies losses, and the fund fell 60.2% from January 28 to June 25, 2026.
Price history
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BEGS -38.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| BEGS price data to Oct 27, 2026 | -28.9% | -38.8% | — | — | — | -0.8% |
- Over the year to Oct 27, 2026, BEGS returned -38.8%.
- The deepest fall in its price history was 60.2% (Jan 28, 2026 to Jun 25, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -28.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jun 30, 2026, the fund held 0 securities; the ten largest made up 0% of assets, and 32.32% sat in cash and money-market holdings.
| Holding | Weight |
|---|
By country
By asset type
What changed recently
- Over the three months to Jun 30, 2026, investors added a net $161K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.33%, -7.05%, -33.19%.
How it works
BEGS is actively managed, with no index. It gains exposure through swaps, contracts in which a counterparty pays the fund the return of an exchange-traded product (ETP) tied to bitcoin, ether, gold or silver. The crypto sleeve targets 75% bitcoin and 25% ether, and the metals sleeve 75% gold and 25% silver; the adviser rebalances if either mix drifts outside a 70/30 to 80/20 range. As of June 30, 2026, its swaps referenced IBIT and ETHA (bitcoin and ether) and GLD and SLV (gold and silver).
The “2x” means total exposure of 200% of assets, not twice an index's daily return. The fund aims for 100% exposure to each sleeve, so $10,000 invested carries about $10,000 of crypto and $10,000 of metals exposure. Because the swaps aren't exchange-traded, the fund depends on counterparties to pay. It may also use options and futures, which must be rolled into later contracts as they near expiration. It holds no coins or bullion.
Much of this runs through a wholly owned subsidiary, capped at 25% of assets at each quarter end to keep the fund's tax status but expected to be far larger in between. The rest sits in Treasuries and money market funds as collateral, possibly one the adviser runs, a conflict of interest. Underlying ETP fees also trim returns.
What it really costs
- BEGS charges 0.99% a year.
- The fee includes a 18.61% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $1,817 in the first year and $2,730 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BEGS | $1,817 | $1,993 | $2,183 | $2,730 |
In a retirement portfolio
Its stacked 200% exposure to bitcoin, ether, gold and silver brought 75.1% volatility (a measure of price swings) in the year to October 27, 2026, making it a speculative slice at most.
BEGS launched in February 2025, so its record doesn't cover the 2008, 2020 or 2022 downturns. Its short history shows the risk: it fell 60.2% from January 28 to June 25, 2026, and had not recovered by October 27, 2026, when it was down 28.9% for 2026 to date. Someone needing cash in a slump like that could have to cash out shares at a deep loss.
Its income is unpredictable. It paid $10.98 per share in the year to October 27, 2026, a 67.83% trailing yield, in an annual distribution that may not repeat. The prospectus lists a 0.99% expense ratio after a large fee waiver, yet its standard $10,000 example shows $1,817 in costs after one year. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want bitcoin, ether, gold and silver in one fund and accept 200% total exposure through swaps rather than owning coins or bullion.
- Investors who see bitcoin and gold as complementary stores of value and want an adviser to keep each near 75% of its sleeve.
- Experienced investors who can tolerate 75.1% volatility in the year to October 27, 2026, and would hold it only as a small slice.
Look elsewhere if
- Retirees seeking steady income: the 67.83% trailing yield (as of October 27, 2026) came from an annual payout that may not repeat.
- Investors who may need cash soon: the fund fell 60.2% between January and June 2026 and hadn't recovered by October 27, 2026.
- Investors wary of small or costly funds: net assets were $2.4 million at June 30, 2026; the SEC example shows $1,817 first-year costs on $10,000.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Is BEGS a 2x leveraged ETF?
Yes, though not in the usual way. BEGS aims to put 100% of its assets into crypto (75% bitcoin, 25% ether) and another 100% into precious metals (75% gold, 25% silver), for 200% total exposure. The prospectus calls this “stacking” returns. It does not target twice the return of bitcoin or gold alone. Leverage magnifies losses as well as gains: the fund fell 60.2% from January 28 to June 25, 2026.
Does BEGS hold actual bitcoin and gold?
No. BEGS holds no bitcoin, ether, gold or silver. It uses swaps, contracts that pay the return of exchange-traded products; as of June 30, 2026, those referenced IBIT and ETHA for crypto and GLD and SLV for metals. It may also use options and futures. About 32% of assets were in cash on that date, which can serve as collateral. If a swap counterparty fails, the fund may recover little. The underlying products' own fees also reduce returns.
How has BEGS performed?
BEGS lost 38.8% in the year to October 27, 2026, and was down 28.9% for 2026 to date, despite a 15.8% gain over the prior three months. Since its February 7, 2025 launch, its return was roughly flat at -0.8%. Its deepest drop, 60.2% from January 28 to June 25, 2026, had not been recovered by October 27. Volatility, a measure of how widely returns swing, was 75.1% over one year. Short records like this say little about long-term results.
Does BEGS pay a dividend?
Yes, once a year, but it isn't steady income. BEGS paid $10.98 per share in the year to October 27, 2026, a trailing yield of 67.83%. That figure says little about future payouts. A fund built on swaps, futures and Treasuries distributes the interest and realized gains it earns, which can swing widely or disappear. Each distribution also lowers the share price by roughly the amount paid, so it is not extra return on top of performance.
What is the BEGS expense ratio?
BEGS lists a 0.99% expense ratio (its yearly cost as a share of assets) in its prospectus filed January 27, 2026, after a fee waiver of 18.61 percentage points, so costs before the waiver were far higher. The SEC's standard example, assuming $10,000 invested, a 5% yearly return and shares cashed out at the end, shows costs of $1,817 after one year, $1,993 after three, $2,183 after five and $2,730 after 10. Fee waivers can be temporary. The underlying ETPs charge their own fees as well.