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MSTP vs UNHG

GraniteShares 2x Long MSTR Daily ETF

MSTPDNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.90pt a year

MSTP1.67%UNHG0.77%

Avg volume · 30D

UNHG 11.0×the volume

MSTP66.2KUNHG726K

MSTP vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

−90.1%MSTP+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. MSTP −90.1%. UNHG +11.9%. Use the arrow keys to read each point.−75%−50%−25%Oct 2025Apr 2026Oct 2026
Expense ratio
MSTP 1.67%
UNHG 0.77%, better
Fund size
MSTP $15M
UNHG $63M
1Y total return
MSTP −90.1%
UNHG +11.9%, better
Holdings
MSTP 2
UNHG 5
Avg volume (30D)
MSTP 66.2K sh
UNHG 726K sh, better
NAV per share
MSTP $22.76
UNHG $20.57
52W range

ETF.net Grade

MSTP: Cost 2, Risk 31, Mission 90, Tradability 67, Holdings not scored, Durability 69. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for MSTP, UNHG, with each pillar’s weight
PillarMSTPUNHG
Cost30% weightF2B60Higher
Mission25% weightA90A90
Risk15% weightD31A83Higher
Tradability15% weightB67A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB69HigherB66

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. MSTP 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 MSTP 283rd 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 283DKEEXDefiance Daily Target 2X Long BITF ETFScore 28
  5. Rank 283DMSTPGraniteShares 2x Long MSTR Daily ETFScore 28
  6. Rank 283DPENUT-REX 2X Long PENG Daily Target ETFScore 28

Our read on each fund

ETF.net Research

MSTPDGraniteShares 2x Long MSTR Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

MSTP MicroStrategy is already a leveraged bet on bitcoin. MSTP stacks 2x the daily move on top of that, using swaps instead of shares and resetting every session. Built for day-trade horizons, by its own prospectus.

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

MSTP The Fund seeks daily investment results equal to twice the daily percentage change of MicroStrategy Inc.'s common stock, before fees and expenses. It is intended as a daily, short-term leveraged exposure and is not expected to deliver twice the cumulative return over periods longer than one day.

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

  • MSTP Doubles MicroStrategy's daily move through total-return swaps collateralized by T-bills and cash, so the exposure arrives without a margin account or a loan to maintain.graniteshares.com
  • Day to day it has stayed close to its stated 2x goal, which is the entire job of a daily-reset fund.
  • Launched in 2025 onto GraniteShares' existing 2x single-stock shelf, which runs the same daily-reset plumbing across names like TSM and MU.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

  • MSTP The 2x applies to one day only. Hold longer and compounding plus MicroStrategy's swings can push results well away from twice the stock's move, in either direction.
  • Costs 1.50% net of a waiver through December 31, 2026, against a 39.17% gross ratio, and sits above the category median. MSTU tracks the same stock for 1.05%, no waiver.
  • A small fund that has not paid distributions, and its exposure sits in swaps with counterparties rather than in the shares, so counterparty terms matter.graniteshares.com
  • 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 MSTP profile⁠

Full UNHG profile⁠

MSTP 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.

MSTP vs UNHG Cost

Overpaying MSTP vs UNHG

$13,808

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

  • MSTP 1.67%

    $28,637

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • MSTP 1.67%
  • 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$30K051015202530MSTP $28,637UNHG $14,829

Year by year

YearMSTPUNHGOverpaying
10$2,863$1,371$1,492
20$10,445$5,205$5,240
30$28,637$14,829$13,808

Expense ratio

  • 1.67%MSTP
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

MSTP 308th cheapest of 315 funds

MSTP vs UNHG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

MSTPAll MSTP 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

MSTP vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MSTP 144.2%since Jul 2025UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
MSTP −0.86since Jul 2025UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
MSTP −98.4%since Jun 2025UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
MSTP 6.34UNHG 5.53

Popular comparisons

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    Expense ratio
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