MUU vs UNHG: Grades, Fees and Holdings Compared

Direxion Daily MU Bull 2X ETF

MUUBNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

0.0%by weight

Expense ratio

UNHG −0.24pt a year

MUU1.01%UNHG0.77%

Avg volume · 30D

MUU 44.7×the volume

MUU33.2MUNHG744K

MUU vs UNHG Performance

Nov 7, 2025 – Nov 9, 2026

+311.7%MUU+18.8%UNHG

Expense ratio: MUU 1.01%; UNHG 0.77%, better
Fund size: MUU $1.55B; UNHG $73M
1Y total return: MUU +311.7%, better; UNHG +18.8%
Yield (12M): MUU 3.48%; UNHG No data
Holdings: MUU 11; UNHG 6
Avg volume (30D): MUU 33.2M sh, better; UNHG 744K sh
NAV per share: MUU $13.77; UNHG $19.20
52W range

ETF.net Grade

Pillar letters and Scores for MUU, UNHG, with each pillar’s weight
Pillar	MUU	UNHG
Cost30% weight	C46	B61Higher
Mission25% weight	A90	A91Higher
Risk15% weight	B66	A86Higher
Tradability15% weight	A70	A91Higher
Holdings10% weight	Not scored	Not scored
Durability5% weight	A86Higher	B67

Rank among Single-Stock Long Leveraged funds

How we build Categories ›

Same Category. MUU 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 MUU 46th of 312 funds in the Single-Stock Long Leveraged Category.

Rank 1AUNHGLeverage Shares 2x Long UNH Daily ETFScore 74
Rank 2ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
Rank 46BHOOXDaily Target 2X Long HOOD ETFScore 59
Rank 46BMUUDirexion Daily MU Bull 2X ETFScore 59
Rank 46BSTXULeverage Shares 2X Long STX Daily ETFScore 59

Our read on each fund

ETF.net Research

MUUBDirexion Daily MU Bull 2X ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

MUU Two ETFs offer 2x daily Micron. MUU is the cheaper one, and the one that actually trades. The mandate is 200% of Micron's daily share move before fees, with the leverage clock reset every morning.

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

MUU The fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of Micron Technology, Inc.’s common shares.

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

MUU Same 2x daily Micron exposure as its only twin, MULL, at roughly a third of the cost: 1.01% versus 3.06%.
The mandate fits on one line: 200% of Micron's daily share performance, before fees. One stock, one multiple, no manager discretion.direxion.com
A multibillion-dollar fund and one of the busier tickers in the single-stock leverage aisle, which matters for a product built to be traded.
Day to day it has tracked its 2x target tightly, one of the stronger implementations in a crowded leveraged cohort.

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.com sec.gov

Worth knowing

MUU The 2x resets every morning. Hold longer and the result comes from compounded daily moves, which can drift well away from twice Micron's move over the stretch.
One company's stock, doubled. There is nothing else in the basket to cushion a bad session.
The 1.01% fee sits right at the median for leveraged single-stock funds: far under MULL, above the 0.75% charged by peers like UNHG and ASMG.

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 MUU profile⁠

Full UNHG profile⁠

MUU vs UNHG Holdings

How MUU and UNHG differ

Overlap by weight

0.0%

About this figure: MUU gets much of its exposure from swaps and futures, which aren’t counted.

UNHG gets much of its exposure from swaps and futures, which aren’t counted.

Level by level

Holdings0 in both0.0%
Asset classStocks100%
Countryby domicile100%

Sector

No Sector split for UNHG.

Country, concentration and asset class

Country by domicile

Country weights in MUU and UNHG, widest gap first
Country	More in MUUMore in UNHG	Gap	MUU	UNHG
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

MUU98.8%
UNHG215.7%

Securities held

MUU2
UNHG1

Asset class

MUU: Stocks
UNHG: Stocks

Holdings

Only in MUU2
In both0
Only in UNHG1

Only in MUU

2 securities, 20.9% of MUU by weight

Goldman Finl Sq Trsry Inst 50614.44%
Micron Technology Inc6.46%

Only in UNHG

1 security, 15.7% of UNHG by weight

First American Treasury Obligations Fund 01/01/204015.67%

Weight gaps

MUU and UNHG share no securities.

All MUU holdings⁠All 6 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.

MUU vs UNHG Cost

Overpaying MUU vs UNHG

$4,021

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

MUU 1.01%
$18,850
UNHG 0.77%
$14,829

Amount$10,000

Years30 years

Cost over time

MUU 1.01%
UNHG 0.77%
Overpaying

Year by year

Year	MUU	UNHG	Overpaying
10	$1,780	$1,371	$409
20	$6,686	$5,205	$1,481
30	$18,850	$14,829	$4,021

Expense ratio

1.01%MUU
0.77%UNHG, cheaper

UNHG0.77%MUU1.01%

0.20%2.28%

Middle half of Single-Stock Long Leveraged funds
Median 0.97%

UNHG 135th cheapest of 312 funds

MUU 198th cheapest of 312 funds

MUU vs UNHG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): MUU 3.48%; UNHG No data
Payout (12M): MUU $0.54; UNHG No data
Last payment: MUU $0.20; UNHG $1.90
Ex-dividend: MUU Sep 22, 2026; UNHG Dec 30, 2025
Paid on: MUU Sep 29, 2026; UNHG Jan 2, 2026
Frequency: MUU Quarterly; UNHG Irregular

Distribution history

Per share, 2024 to 2026, same scale for both

MUUQuarterly · 9 paymentsAll MUU payments⁠

UNHGIrregular · 1 paymentAll UNHG payments⁠

MUU vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: MUU 216.8%since Nov 2024UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years: MUU 1.44since Nov 2024UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years: MUU −79.4%since Oct 2024UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years: MUU 7.80UNHG 5.19; Market = 1

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