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BABX vs UNHG

GraniteShares 2x Long BABA Daily ETF

BABXCNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.32pt a year

BABX1.09%UNHG0.77%

Avg volume · 30D

BABX 1.1×the volume

BABX821KUNHG726K

BABX vs UNHG Performance

Oct 31, 2025 – Nov 2, 2026

−71.7%BABX+8.4%UNHG

Oct 31, 2025 to Nov 2, 2026. BABX −71.7%. UNHG +8.4%. Use the arrow keys to read each point.−40%−20%40%Oct 2025May 2026Nov 2026
Expense ratio
BABX 1.09%
UNHG 0.77%, better
Fund size
BABX $91M
UNHG $63M
1Y total return
BABX −71.7%
UNHG +8.4%, better
Holdings
BABX 2
UNHG 5
Avg volume (30D)
BABX 821K sh, better
UNHG 726K sh
NAV per share
BABX $13.27
UNHG $20.57
52W range

ETF.net Grade

BABX: Cost 39, Risk 34, Mission 96, Tradability 89, Holdings not scored, Durability 82. UNHG: Cost 60, Risk 83, Mission 90, Tradability 90, Holdings not scored, Durability 66.
Pillar letters and Scores for BABX, UNHG, with each pillar’s weight
PillarBABXUNHG
Cost30% weightD39B60Higher
Mission25% weightA96HigherA90
Risk15% weightD34A83Higher
Tradability15% weightA89A90Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA82HigherB66

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. BABX 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 BABX 78th 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 76CUUUGLeverage Shares 2x Long UUUU Daily ETFScore 53
  5. Rank 78CBABXGraniteShares 2x Long BABA Daily ETFScore 52
  6. Rank 78CBTCUDirexion Daily Bitcoin Bull 2X ETFScore 52

Our read on each fund

ETF.net Research

BABXCGraniteShares 2x Long BABA Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

BABX The original 2x Alibaba ETF: live since 2022, years before its rivals. It aims for twice BABA's daily move, resets every night, and costs 1.15% net of a waiver through December 31, 2026.

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

BABX The Fund seeks daily investment results equal to twice the daily percentage change of Alibaba Group Holding Limited’s common stock. It is intended as a short-term leveraged trading vehicle rather than a long-term investment.

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

  • BABX Launched December 2022, it beat every rival 2x BABA fund to market by years, giving traders the longest-running option in this corner of the market.graniteshares.comkraneshares.comdirexion.com
  • Tracks its daily 2x target closely and trades actively with tight execution, one of the stronger builds in a crowded leveraged single-stock group.
  • Plain plumbing: swaps totaling 200% notional across counterparties, collateralized by T-bills and cash, rebalanced daily, with holdings published by the issuer.graniteshares.com
  • 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

  • BABX Costs more than the two other 2x BABA funds: BABU at 0.97% net of a waiver through September 1, 2027 and KBAB at 0.99% net of a waiver through August 1, 2028.
  • The daily reset means returns over longer stretches can drift far from 2x BABA. GraniteShares calls it a short-term trading vehicle, not a buy-and-hold holding.graniteshares.com
  • The mandate was 1.75x before January 22, 2024, so the earliest stretch of its history reflects a different leverage level than today's.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 BABX profile⁠

Full UNHG profile⁠

BABX 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.

BABX vs UNHG Cost

Overpaying BABX vs UNHG

$5,304

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

  • BABX 1.09%

    $20,133

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • BABX 1.09%
  • 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$25K051015202530BABX $20,133UNHG $14,829

Year by year

YearBABXUNHGOverpaying
10$1,915$1,371$544
20$7,166$5,205$1,961
30$20,133$14,829$5,304

Expense ratio

  • 1.09%BABX
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

BABX 219th cheapest of 315 funds

BABX vs UNHG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

BABXAll BABX 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

BABX vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BABX 95.3%UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
BABX 0.25UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
BABX −79.2%since Dec 2022UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
BABX 1.02UNHG 5.19

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