MAGX vs UYG

MAGXCRoundhill Daily 2X Long Magnificent Seven ETF

UYGAProShares Ultra Financials

In short

MAGX Most leveraged funds amplify a broad index. MAGX amplifies seven stocks, aiming for two times the daily move of Roundhill's own equal-weight Magnificent Seven fund, at 0.95% net of a waiver through May 1, 2027.

UYG Listed in January 2007, a year before the banking crash, UYG targets 2x the daily move of the financial stocks in the S&P 500. A veteran of the leveraged shelf, priced at 0.93% with no fee waiver propping that number up.

Stated mandate

MAGX The Fund seeks daily leveraged results equal to two times the performance of the Roundhill Magnificent Seven ETF over a single trading day.

UYG UYG seeks pre-expense daily results equal to 2x the daily performance of the S&P Financial Select Sector Index. It is designed to provide magnified financials-sector exposure on a daily basis.

Why people hold it

• MAGX A scalpel, not a shovel. The reference basket is seven mega caps held at equal weight and rebalanced quarterly, not the broad benchmarks behind leveraged peers like ROM and QLD.roundhillinvestments.com
• 0.95% a year, net of a waiver through May 1, 2027, lands near the leveraged-bull median and level with DDM. QLD is cheaper at 0.89% net of a waiver through September 30, 2027.
• Exposure runs through total return swaps plus Mag 7 ETF shares inside a 1940 Act fund, and it has hit its stated 2x daily mark closely for a daily-reset product.roundhillinvestments.com
• Listed in 2024 as the geared sibling of the fund Roundhill bills as the first ETF built on the Magnificent Seven, so basket and leverage live under one roof.roundhillinvestments.com

• UYG One of the originals: on the tape since January 30, 2007, still running the same mandate of 2x the daily performance of the S&P Financial Select Sector Index.proshares.com
• At 0.93% with no waiver doing the work, it sits near the median fee of its leveraged peer group and level with sibling ROM (0.93%). QLD is 0.89%, but net of a waiver through September 30, 2027.
• The whole sector in one ticker: banks, insurers and capital-markets firms from the S&P 500, roughly 80 names, geared daily.proshares.com
• Stands in the top tier of the leveraged bull funds we grade, a group of close to a hundred tickers.

Worth knowing

• MAGX The 2x resets every day. Over longer holds returns compound, and the filings note a choppy, flat stretch in the basket can still leave the fund down.sec.gov
• Leverage on seven names runs hot: the prospectus states an investor could lose the full principal in one day if the basket falls more than 50%.roundhillinvestments.com
• Roundhill frames it as a short-term trading tool for sophisticated market participants, not a set-and-forget holding.roundhillinvestments.com

• UYG The 2x target is a one-day target and resets each day. Over longer holds the result comes from compounding daily moves, and in choppy markets that can land well off twice the index's return for the period.proshares.com
• One sector, doubled. Financials move with rates, credit conditions and deal flow, and UYG amplifies that daily swing in both directions.
• It changes hands less than the headline leveraged funds, so the spread is worth a look before you place an order.

Full MAGX profile⁠

Full UYG profile⁠