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IREG vs UNHG

Leverage Shares 2x Long IREN Daily ETF

IREGBNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

IREG −0.02pt a year

IREG0.75%UNHG0.77%

Avg volume · 30D

IREG 1.8×the volume

IREG1.28MUNHG726K

IREG vs UNHG Performance

Dec 31, 2025 – Oct 30, 2026

−85.8%IREG+22.2%UNHG

Dec 31, 2025 to Oct 30, 2026. IREG −85.8%. UNHG +22.2%. Use the arrow keys to read each point.−50%50%100%Dec 2025Jun 2026Oct 2026
Expense ratio
IREG 0.75%, better
UNHG 0.77%
Fund size
IREG $18M
UNHG $63M
1Y total return
IREG No data
UNHG +11.9%
Holdings
IREG 5
UNHG 5
Avg volume (30D)
IREG 1.28M sh, better
UNHG 726K sh
NAV per share
IREG $2.34
UNHG $20.57
52W range

ETF.net Grade

IREG: Cost 70, Risk 31, Mission 87, Tradability 75, Holdings not scored, Durability 55. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for IREG, UNHG, with each pillar’s weight
PillarIREGUNHG
Cost30% weightA70HigherB60
Mission25% weightA87A90Higher
Risk15% weightD31A83Higher
Tradability15% weightA75A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB55B66Higher

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. IREG 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 IREG 37th 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 37BCRWGLeverage Shares 2x Long CRWV Daily ETFScore 60
  5. Rank 37BIREGLeverage Shares 2x Long IREN Daily ETFScore 60
  6. Rank 37BMETUDirexion Daily META Bull 2X ETFScore 60

Our read on each fund

ETF.net Research

IREGBLeverage Shares 2x Long IREN Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

IREG A 2x daily swing at a single stock, priced like an index fund. IREG aims to deliver twice IREN Limited's daily move for 0.75% a year, roughly half what the other leveraged IREN ETF charges.

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

IREG The fund seeks to deliver twice the daily performance of IREN Limited stock, 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

  • IREG 0.75% a year, against 1.31% for the only other 2x IREN ETF (IRE), and cheaper than the typical leveraged single-stock fund.leverageshares.com
  • Has hewed closely to its stated job of doubling IREN's daily move, one of the stronger implementations in the leveraged single-stock bull crowd.
  • Standard 1940 Act ETF wrapper: leveraged exposure through an ordinary brokerage ticket, no margin account, options approval or K-1 paperwork.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

  • IREG The 2x resets every day. Hold past a single session and compounding takes over, so multi-day results can drift far from twice IREN's move, especially in choppy tape.leverageshares.com
  • Leverage points both ways: a rough day in IREN lands about twice as hard here, before fees.leverageshares.com
  • One company, no diversification, and a track record that only starts in December 2025.
  • 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 IREG profile⁠

Full UNHG profile⁠

IREG 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.

IREG vs UNHG Cost

Overpaying UNHG vs IREG

$347

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

  • IREG 0.75%

    $14,482

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • IREG 0.75%
  • 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$15K051015202530UNHG $14,829IREG $14,482

Year by year

YearIREGUNHGOverpaying
10$1,336$1,371$35
20$5,078$5,205$127
30$14,482$14,829$347

Expense ratio

  • 0.75%IREG, cheaper
  • 0.77%UNHG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

IREG 87th cheapest of 315 funds

UNHG 135th cheapest of 315 funds

IREG vs UNHG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

IREGAll IREG 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

IREG vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
IREG No dataUNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
IREG No dataUNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
IREG No dataUNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
IREG 8.86UNHG 5.53

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