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FBL vs UNHG

GraniteShares 2x Long META Daily ETF

FBLBNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.28pt a year

FBL1.05%UNHG0.77%

Avg volume · 30D

FBL 1.5×the volume

FBL1.08MUNHG744K

FBL vs UNHG Performance

Nov 7, 2025 – Nov 9, 2026

−18.0%FBL+18.8%UNHG

Nov 7, 2025 to Nov 9, 2026. FBL −18.0%. UNHG +18.8%. Use the arrow keys to read each point.−40%0%40%Nov 2025May 2026Nov 2026
Expense ratio
FBL 1.05%
UNHG 0.77%, better
Fund size
FBL $140M
UNHG $73M
1Y total return
FBL −18.0%
UNHG +18.8%, better
Yield (12M)
FBL 2.79%
UNHG No data
Holdings
FBL 2
UNHG 6
Avg volume (30D)
FBL 1.08M sh, better
UNHG 744K sh
NAV per share
FBL $21.92
UNHG $19.20
52W range

ETF.net Grade

FBL: Cost 44, Risk 55, Mission 98, Tradability 95, Holdings not scored, Durability 83. UNHG: Cost 61, Risk 86, Mission 91, Tradability 91, Holdings not scored, Durability 67.
Pillar letters and Scores for FBL, UNHG, with each pillar’s weight
PillarFBLUNHG
Cost30% weightC44B61Higher
Mission25% weightA98HigherA91
Risk15% weightB55A86Higher
Tradability15% weightA95HigherA91
Holdings10% weightNot scoredNot scored
Durability5% weightA83HigherB67

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. FBL and UNHG are both graded against the same 312 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 312 funds
See all 312 ›

UNHG ranks 1st and FBL 34th of 312 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1AUNHGLeverage Shares 2x Long UNH Daily ETFScore 74
  2. Rank 2ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  3. Rank 34BCRWGLeverage Shares 2x Long CRWV Daily ETFScore 61
  4. Rank 34BFBLGraniteShares 2x Long META Daily ETFScore 61
  5. Rank 34BHOOGLeverage Shares 2x Long HOOD Daily ETFScore 61

Our read on each fund

ETF.net Research

FBLBGraniteShares 2x Long META Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

FBL Two US ETFs offer 2x daily Meta exposure, and FBL has been doing it since 2022. One stock, one lever, reset every day: it aims for twice Meta's daily move before fees, and nothing else.

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

FBL The Fund seeks daily investment results equal to twice the daily percentage change of Meta Platforms Inc. 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

  • FBL Does exactly the job on the label: twice Meta's daily percentage change, before fees. It has held that target tightly, one of the stronger implementations in its peer group.graniteshares.com
  • Only two US ETFs offer 2x daily Meta exposure. FBL is one of them, and it has been trading since December 2022, through several Meta earnings cycles.
  • Actively traded, and one of the easier funds in this corner of the market to get in and out of when Meta is the story of the day.
  • 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

  • FBL Fees run 1.09% a year, above the typical leveraged single-stock fund and above METU, the other 2x Meta ETF, at 1.02%.
  • The 2x target resets daily. Hold longer and returns compound; a choppy stretch can leave you well away from twice Meta's move over that period.graniteshares.com
  • One company, doubled. Meta headline risk is the entire portfolio, amplified, with no diversification to cushion it.
  • 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 FBL profile⁠

Full UNHG profile⁠

FBL 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.

FBL vs UNHG Cost

Overpaying FBL vs UNHG

$4,666

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

  • FBL 1.05%

    $19,495

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • FBL 1.05%
  • 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$20K051015202530FBL $19,495UNHG $14,829

Year by year

YearFBLUNHGOverpaying
10$1,847$1,371$476
20$6,927$5,205$1,722
30$19,495$14,829$4,666

Expense ratio

  • 1.05%FBL
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 312 funds

FBL 201st cheapest of 312 funds

FBL vs UNHG Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
FBL 2.79%
UNHG No data
Payout (12M)
FBL $0.67
UNHG No data
Last payment
FBL $0.67
UNHG $1.90
Ex-dividend
FBL Dec 29, 2025
UNHG Dec 30, 2025
Paid on
FBL Dec 31, 2025
UNHG Jan 2, 2026
Frequency
FBL Irregular
UNHG Irregular

Distribution history

Per share, 2023 to 2026, same scale for both

FBLIrregular · 2 paymentsAll FBL payments⁠
One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 27, 2023 $8.00; Dec 29, 2025 $0.67. 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

FBL vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FBL 73.3%UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
FBL 0.55UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
FBL −63.2%since Dec 2022UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
FBL 2.70UNHG 5.19

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