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AAPB vs UNHG

GraniteShares 2x Long AAPL Daily ETF

AAPBBNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.44pt a year

AAPB1.21%UNHG0.77%

Avg volume · 30D

UNHG 14.4×the volume

AAPB50.5KUNHG726K

AAPB vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

+43.5%AAPB+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. AAPB +43.5%. UNHG +11.9%. Use the arrow keys to read each point.−40%−20%0%Oct 2025Apr 2026Oct 2026
Expense ratio
AAPB 1.21%
UNHG 0.77%, better
Fund size
AAPB $18M
UNHG $63M
1Y total return
AAPB +43.5%, better
UNHG +11.9%
Yield (12M)
AAPB 3.06%
UNHG No data
Holdings
AAPB 2
UNHG 5
Avg volume (30D)
AAPB 50.5K sh
UNHG 726K sh, better
NAV per share
AAPB $47.21
UNHG $20.57
52W range

ETF.net Grade

AAPB: Cost 37, Risk 80, Mission 78, Tradability 78, Holdings not scored, Durability 75. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for AAPB, UNHG, with each pillar’s weight
PillarAAPBUNHG
Cost30% weightD37B60Higher
Mission25% weightA78A90Higher
Risk15% weightA80A83Higher
Tradability15% weightA78A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA75HigherB66

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AAPB and UNHG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

UNHG ranks 2nd and AAPB 44th of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 3AOKTGLeverage Shares 2x Long OKTA Daily ETFScore 70
  4. Rank 37CUNHUDirexion Daily UNH Bull 2X ETFScore 60
  5. Rank 44BAAPBGraniteShares 2x Long AAPL Daily ETFScore 59
  6. Rank 44BARMWRoundhill ARM WeeklyPay ETFScore 59

Our read on each fund

ETF.net Research

AAPBBGraniteShares 2x Long AAPL Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

AAPB A day-one member of the US single-stock leverage club: listed August 2022 at 1.75x Apple, raised to 2x in January 2024. It aims to deliver twice Apple's daily move, then resets the clock every night.

UNHG Two times UnitedHealth's daily move, reset every night: a managed-care insurer in a category stuffed with chip and AI names. UNHG got there first, and it charges 0.77%.

Stated mandate

AAPB The Fund seeks daily investment results, before fees and expenses, equal to twice the daily percentage change of Apple’s common stock.

UNHG The fund seeks daily investment results equal to twice the daily performance of UnitedHealth Group Incorporated stock, before fees and expenses.

Why people hold it

  • AAPB Aims for twice Apple's daily percentage change, then resets. The exposure you own is today's, not a stale bet left over from last month.sec.gov
  • Actively managed, building the 2x exposure from swaps, options and Apple shares themselves rather than one fixed structure.graniteshares.com
  • On the market since August 2022, one of the originals in a field that now runs to hundreds of funds, and one of the stronger implementations in that crowd.
  • The multiple is a documented, board-approved setting, not a moving target: the 1.75x to 2x change ran through an SEC prospectus supplement before it took effect.sec.gov
  • UNHG At 0.77%, the cheaper of the only two 2x UNH funds: Direxion's UNHU runs 0.97% net of a waiver through September 1, 2027. Both sit below the category's typical fee.
  • First to the 2x UNH trade, listed July 2025, months before Direxion's version arrived in March 2026. It trades actively for a single-stock leveraged fund.direxion.com
  • Exposure comes from total return swaps reset at each close, and day-to-day it has stayed close to its 2x target. One of the better-built funds in a crowded bull field.leverageshares.comsec.gov

Worth knowing

  • AAPB 1.15% net of a waiver through December 31, 2026 (1.31% gross), above the category median and above 2x peers such as TSMG at 0.76% and OKTG at 0.75%.
  • The daily reset means multi-day results compound and can diverge sharply from 2x Apple's move over the same stretch, and Apple's volatility widens that gap.sec.gov
  • GraniteShares frames it for holding periods measured in days, not years, and payouts are infrequent. A trading instrument, not an income one.graniteshares.com
  • UNHG Daily reset means multi-day results depend on the path UNH takes, not just its direction. Choppy stretches can erode value even if the stock ends where it started.leverageshares.com
  • Swap-based exposure carries counterparty risk, and everything rides on one managed-care company's news, from earnings to policy headlines.leverageshares.com
  • Listed in 2025, so there is little history to judge it across a full market cycle.

Full AAPB profile⁠

Full UNHG profile⁠

AAPB vs UNHG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AAPB vs UNHG Cost

Overpaying AAPB vs UNHG

$7,176

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AAPB 1.21%

    $22,005

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • AAPB 1.21%
  • UNHG 0.77%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530AAPB $22,005UNHG $14,829

Year by year

YearAAPBUNHGOverpaying
10$2,115$1,371$744
20$7,873$5,205$2,668
30$22,005$14,829$7,176

Expense ratio

  • 1.21%AAPB
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

AAPB 226th cheapest of 315 funds

AAPB vs UNHG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPB 3.06%
UNHG No data
Payout (12M)
AAPB $1.41
UNHG No data
Last payment
AAPB $1.41
UNHG $1.90
Ex-dividend
AAPB Dec 29, 2025
UNHG Dec 30, 2025
Paid on
AAPB Dec 31, 2025
UNHG Jan 2, 2026
Frequency
AAPB Irregular
UNHG Irregular

Distribution history

Per share, 2023 to 2026, same scale for both

AAPBIrregular · 2 paymentsAll AAPB payments⁠
One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 27, 2023 $4.31; Dec 29, 2025 $1.41. Use the arrow keys to read each point.$0$520232026YTD
UNHGIrregular · 1 paymentAll UNHG payments⁠
One bar per payment. 1 payment from 2023 to 2026 YTD. Dec 30, 2025 $1.90. Use the arrow keys to read each point.$0$520232026YTD

AAPB vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AAPB 42.5%UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
AAPB 0.83UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
AAPB −58.1%since Aug 2022UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
AAPB 1.82UNHG 5.53

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