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MRAL vs UNHG

GraniteShares 2x Long MARA Daily ETF

MRALDNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.68pt a year

MRAL1.45%UNHG0.77%

Avg volume · 30D

UNHG 5.5×the volume

MRAL131KUNHG726K

MRAL vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

−94.4%MRAL+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. MRAL −94.4%. UNHG +11.9%. Use the arrow keys to read each point.−75%−50%−25%Oct 2025May 2026Oct 2026
Expense ratio
MRAL 1.45%
UNHG 0.77%, better
Fund size
MRAL $24M
UNHG $63M
1Y total return
MRAL −94.4%
UNHG +11.9%, better
Holdings
MRAL 2
UNHG 5
Avg volume (30D)
MRAL 131K sh
UNHG 726K sh, better
NAV per share
MRAL $13.71
UNHG $20.57
52W range

ETF.net Grade

MRAL: Cost 19, Risk 24, Mission 67, Tradability 62, Holdings not scored, Durability 73. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for MRAL, UNHG, with each pillar’s weight
PillarMRALUNHG
Cost30% weightF19B60Higher
Mission25% weightB67A90Higher
Risk15% weightF24A83Higher
Tradability15% weightB62A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA73HigherB66

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. MRAL 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 MRAL 264th 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 264DLUNLDaily Target 2X Long LUNR ETFScore 34
  5. Rank 264DMRALGraniteShares 2x Long MARA Daily ETFScore 34
  6. Rank 264DPATXTradr 2X Long PATH Daily ETFScore 34

Our read on each fund

ETF.net Research

MRALDGraniteShares 2x Long MARA Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

MRAL Two times the daily move of MARA Holdings, a bitcoin miner whose shares already travel in big steps, built from swaps that reset each afternoon. GraniteShares rates it top of its own risk scale and aims it at single-day holds.

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

MRAL The fund seeks to deliver twice the daily return of MARA Holdings Corporation for active traders seeking amplified short-term exposure.

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

  • MRAL Mechanically plain: total-return swaps supply about 200% notional MARA exposure, collateralized by cash and Treasury bills, no margin account or options chain on your end.graniteshares.com
  • A 1940 Act ETF that trades like a stock, so the leverage lives inside the fund and sits in an ordinary brokerage account rather than on borrowed money in yours.graniteshares.com
  • GraniteShares is blunt about the job: top of its own 5-point risk scale, for sophisticated investors who actively monitor positions and hold for very short periods.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

  • MRAL 1.50% net of a waiver through December 31, 2026 (1.93% gross), above the category median; the best-rated 2x single-stock funds, such as OKTG at 0.75%, charge far less.
  • Daily reset means path matters. Held longer than a day, a choppy stretch in MARA can leave the fund's return well short of twice the stock's move over that span.graniteshares.com
  • A niche fund that trades in moderate size rather than a category flagship, so spreads and limit orders are worth a look.
  • 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 MRAL profile⁠

Full UNHG profile⁠

MRAL 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.

MRAL vs UNHG Cost

Overpaying MRAL vs UNHG

$10,741

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

  • MRAL 1.45%

    $25,570

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • MRAL 1.45%
  • UNHG 0.77%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530MRAL $25,570UNHG $14,829

Year by year

YearMRALUNHGOverpaying
10$2,509$1,371$1,138
20$9,241$5,205$4,036
30$25,570$14,829$10,741

Expense ratio

  • 1.45%MRAL
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

MRAL 260th cheapest of 315 funds

MRAL vs UNHG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

MRALAll MRAL 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

MRAL vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MRAL 133.6%since Apr 2025UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
MRAL −0.41since Apr 2025UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
MRAL −96.5%since Mar 2025UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
MRAL 7.70UNHG 5.53

MRAL and UNHG in the news

All news⁠

Popular comparisons

  • MRALDvsTSMGA

    GraniteShares 2x Long MARA Daily ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    1.45% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UNHGAvsTSMGA

    Leverage Shares 2x Long UNH Daily ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    0.77% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MRALDvsOKTGA

    GraniteShares 2x Long MARA Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    1.45% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UNHGAvsOKTGA

    Leverage Shares 2x Long UNH Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    0.77% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MRALDvsPANGA

    GraniteShares 2x Long MARA Daily ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    1.45% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UNHGAvsPANGA

    Leverage Shares 2x Long UNH Daily ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    0.77% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.