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AMA vs UNHG

Defiance Daily Target 2X Long AMAT ETF

AMACNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.54pt a year

AMA1.31%UNHG0.77%

Avg volume · 30D

UNHG 2.5×the volume

AMA291KUNHG726K

AMA vs UNHG Performance

Jul 31, 2026 – Nov 2, 2026

−51.7%AMA−11.0%UNHG

Jul 31, 2026 to Nov 2, 2026. AMA −51.7%. UNHG −11.0%. Use the arrow keys to read each point.−40%−30%−20%0%10%Jul 2026Sep 2026Nov 2026
Expense ratio
AMA 1.31%
UNHG 0.77%, better
Fund size
AMA $18M
UNHG $63M
1Y total return
AMA No data
UNHG +8.4%
Holdings
AMA 7
UNHG 5
Avg volume (30D)
AMA 291K sh
UNHG 726K sh, better
NAV per share
AMA $14.08
UNHG $20.57
52W range

ETF.net Grade

AMA: Cost 25, Risk 58, Mission 82, Tradability 67, Holdings not scored, Durability 61. UNHG: Cost 60, Risk 83, Mission 90, Tradability 90, Holdings not scored, Durability 66.
Pillar letters and Scores for AMA, UNHG, with each pillar’s weight
PillarAMAUNHG
Cost30% weightD25B60Higher
Mission25% weightA82A90Higher
Risk15% weightB58A83Higher
Tradability15% weightB67A90Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB61B66Higher

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. AMA 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 AMA 102nd 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 97CROBNT-Rex 2X Long HOOD Daily Target ETFScore 46
  5. Rank 102CAMADefiance Daily Target 2X Long AMAT ETFScore 45
  6. Rank 102CAXTLLeverage Shares 2X Long AXTI Daily ETFScore 45

Our read on each fund

ETF.net Research

AMACDefiance Daily Target 2X Long AMAT ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

AMA The first ETF to bolt 2x daily leverage onto Applied Materials, the company whose machines help make the chips. One stock, double the daily move, reset every night, at a 1.31% expense ratio.

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

AMA The Fund seeks daily investment results equal to two times the daily percentage change in Applied Materials, Inc.'s share price, before fees and expenses.

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

  • AMA First ETF built to give 2x daily exposure to Applied Materials, the equipment maker whose tools sit upstream of nearly every chip. Launched in 2026.defianceetfs.cometfgi.com
  • The mandate is literal: two times AMAT's daily percentage change, before fees and expenses. No index to drift from, no stock picking, one name and one multiple.defianceetfs.com
  • Holds to that mandate closely enough to sit in the upper half of a crowded single-stock leveraged field, and it changes hands at moderate volume.
  • 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

  • AMA Leverage resets daily. Hold longer and results compound off each day's move, which can diverge sharply from twice AMAT's return over the same stretch.
  • The 1.31% expense ratio sits above the category median; 2x peers such as TSMG (0.76%) and OKTG (0.75%) charge less, though neither tracks Applied Materials.
  • One stock, doubled: AMAT earnings nights and turns in the chip-equipment cycle land here with twice the force. It is also still a young, small fund.
  • 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 AMA profile⁠

Full UNHG profile⁠

AMA 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.

AMA vs UNHG Cost

Overpaying AMA vs UNHG

$8,690

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

  • AMA 1.31%

    $23,519

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • AMA 1.31%
  • 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$25K051015202530AMA $23,519UNHG $14,829

Year by year

YearAMAUNHGOverpaying
10$2,280$1,371$909
20$8,450$5,205$3,245
30$23,519$14,829$8,690

Expense ratio

  • 1.31%AMA
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

AMA 236th cheapest of 315 funds

AMA vs UNHG Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
AMA None
UNHG No data
Last payment
AMA No data
UNHG $1.90
Ex-dividend
AMA No data
UNHG Dec 30, 2025
Paid on
AMA No data
UNHG Jan 2, 2026
Frequency
AMA No data
UNHG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

AMAAll AMA payments⁠

No distribution history available.

UNHGIrregular · 1 paymentAll UNHG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.90. Use the arrow keys to read each point.$0$22026YTD

AMA vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AMA No dataUNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
AMA No dataUNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
AMA No dataUNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
AMA 7.18UNHG 5.19

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