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FNG vs UNHG

Leverage Shares 2x Long FN Daily ETF

FNGCCboe

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.22pt a year

FNG0.99%UNHG0.77%

Avg volume · 30D

UNHG 5.9×the volume

FNG126KUNHG744K

FNG vs UNHG Performance

Aug 7, 2026 – Nov 9, 2026

−68.1%FNG−8.8%UNHG

Aug 7, 2026 to Nov 9, 2026. FNG −68.1%. UNHG −8.8%. Use the arrow keys to read each point.−80%−40%−20%Aug 2026Sep 2026Nov 2026
Expense ratio
FNG 0.99%
UNHG 0.77%, better
Fund size
FNG $3M
UNHG $73M
1Y total return
FNG No data
UNHG +18.8%
Holdings
FNG 3
UNHG 6
Avg volume (30D)
FNG 126K sh
UNHG 744K sh, better
NAV per share
FNG $2.70
UNHG $19.20
52W range

ETF.net Grade

FNG: Cost 50, Risk 35, Mission not scored, Tradability 49, Holdings not scored, Durability 39. UNHG: Cost 61, Risk 86, Mission 91, Tradability 91, Holdings not scored, Durability 67.
Pillar letters and Scores for FNG, UNHG, with each pillar’s weight
PillarFNGUNHG
Cost30% weightC50B61Higher
Mission25% weightNot scoredA91
Risk15% weightD35A86Higher
Tradability15% weightC49A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD39B67Higher

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. FNG 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 FNG 124th 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 124CFBXCorgi META 2x Daily ETFScore 40
  4. Rank 124CFNGLeverage Shares 2x Long FN Daily ETFScore 40
  5. Rank 124CFOMGLeverage Shares 2X Long FORM Daily ETFScore 40

Our read on each fund

ETF.net Research

FNGCLeverage Shares 2x Long FN Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

FNG Single-stock leverage usually aims at mega-caps. FNG points at Fabrinet, the optical-packaging specialist that assembles fiber-optic gear for data centers, and targets 2x its daily move. A trading tool, reset every session.

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

FNG The fund seeks daily returns, before fees and expenses, equal to 200% of the daily performance of FN.

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

  • FNG Targets 200% of Fabrinet's daily move, reset each session. Simple math on one day of price action, no basket to unpack.leverageshares.com
  • A 0.99% expense ratio, below the typical fee among 2x single-stock funds.
  • Fabrinet does optical packaging and precision assembly for communications gear, lasers and sensors, well off the mega-cap path most single-stock leverage takes.fabrinet.com
  • A registered 1940 Act fund: the leverage lives inside the ETF, not in a margin account you have to manage.leverageshares.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

  • FNG The daily reset makes path matter. Hold past one session and each day compounds on the last, so choppy stretches can land far from 2x the period's move.leverageshares.com
  • One stock, doubled. A single earnings print or customer shift at Fabrinet drives the whole ride, with no diversification to soften it.leverageshares.com
  • Small, moderately traded and launched in 2026, with no regular distributions. Worth checking spreads before you trade.
  • 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 FNG profile⁠

Full UNHG profile⁠

FNG 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.

FNG vs UNHG Cost

Overpaying FNG vs UNHG

$3,696

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

  • FNG 0.99%

    $18,525

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • FNG 0.99%
  • 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$20K051015202530FNG $18,525UNHG $14,829

Year by year

YearFNGUNHGOverpaying
10$1,746$1,371$375
20$6,565$5,205$1,360
30$18,525$14,829$3,696

Expense ratio

  • 0.99%FNG
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 312 funds

FNG 169th cheapest of 312 funds

FNG vs UNHG Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
FNG None
UNHG No data
Last payment
FNG No data
UNHG $1.90
Ex-dividend
FNG No data
UNHG Dec 30, 2025
Paid on
FNG No data
UNHG Jan 2, 2026
Frequency
FNG No data
UNHG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

FNGAll FNG 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

FNG vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FNG No dataUNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
FNG No dataUNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
FNG No dataUNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
FNG −1.55UNHG 5.19

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