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OKTG vs QCML

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

GraniteShares 2x Long QCOM Daily ETF

QCMLCNasdaq

Overlap

Expense ratio

OKTG −0.78pt a year

OKTG0.75%QCML1.53%

Avg volume · 30D

QCML 43.7×the volume

OKTG38.5KQCML1.68M

OKTG vs QCML Performance

Dec 31, 2025 – Oct 30, 2026

+247.6%OKTG−33.7%QCML

Dec 31, 2025 to Oct 30, 2026. OKTG +247.6%. QCML −33.7%. Use the arrow keys to read each point.100%200%300%Dec 2025Jun 2026Oct 2026
Expense ratio
OKTG 0.75%, better
QCML 1.53%
Fund size
OKTG $8M
QCML $45M
1Y total return
OKTG No data
QCML −41.9%
Holdings
OKTG 5
QCML 2
Avg volume (30D)
OKTG 38.5K sh
QCML 1.68M sh, better
NAV per share
OKTG $53.95
QCML $18.17
52W range

ETF.net Grade

OKTG: Cost 70, Risk 76, Mission 94, Tradability 73, Holdings not scored, Durability 51. QCML: Cost 3, Risk 63, Mission 79, Tradability 94, Holdings not scored, Durability 77.
Pillar letters and Scores for OKTG, QCML, with each pillar’s weight
PillarOKTGQCML
Cost30% weightA70HigherF3
Mission25% weightA94HigherA79
Risk15% weightA76HigherB63
Tradability15% weightA73A94Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC51A77Higher

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. OKTG and QCML 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 ›

OKTG ranks 3rd and QCML 111th 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 3APANGLeverage Shares 2x Long PANW Daily ETFScore 70
  5. Rank 111CPURDefiance Daily Target 2X Long PURR ETFScore 43
  6. Rank 111CQCMLGraniteShares 2x Long QCOM Daily ETFScore 43
  7. Rank 111CSKUUGraniteShares 2x Long SK Hynix Daily ETFScore 43

Our read on each fund

ETF.net Research

OKTGALeverage Shares 2x Long OKTA Daily ETF

QCMLCGraniteShares 2x Long QCOM Daily ETF

In short

OKTG A 2x daily amplifier on Okta, the identity-security stock, in an ETF wrapper. Leverage Shares prices it at 0.75%, under the typical leveraged single-stock fund, in a corner of the market built mostly around mega-caps.

QCML Two times Qualcomm's move, one day at a time. QCML never owns a QCOM share: it rents the exposure through swaps, resets every night, and costs 1.50% net of a waiver through December 31, 2026 (7.39% gross).

Stated mandate

OKTG The fund seeks daily leveraged investment results equal to 200% of the daily performance of the publicly traded common stock identified as OKTA, before fees and expenses.

QCML The fund seeks daily investment results equal to twice the daily percentage change of Qualcomm Inc.'s common stock, before fees and expenses.

Why people hold it

  • OKTG Costs 0.75% a year, below the roughly 1.01% median for leveraged single-stock funds, and matches the fee on Leverage Shares' other 2x products like UNHG and ASMG.
  • Mechanically simple: it aims for 200% of Okta's daily move before fees and expenses, no margin account, options chain or share borrow involved.leverageshares.com
  • Unusual target. Most 2x single-stock ETFs point at mega-caps such as AAPU and GGLL; this one puts the same machinery on a cybersecurity name.
  • QCML One job, stated plainly: it aims for twice QCOM's daily percentage change, before fees. No basket, no index committee, no mystery holdings.graniteshares.com
  • Small fund, busy tape. It trades actively, which is what matters when the holding period is measured in hours rather than years.
  • Day to day it has tracked its 2x target closely, and it sits in the upper half of a crowded leveraged single-stock field.
  • Part of one of the deepest single-stock leverage lineups on the market, so the plumbing here is well worn rather than experimental.graniteshares.com

Worth knowing

  • OKTG The leverage resets every day. Hold past that and returns compound, so a choppy stretch can leave you far from 2x Okta's move over the period.
  • One company, doubled. An earnings gap or a breach headline at Okta hits the fund at twice the size, with no other holdings to soften it.
  • Launched in November 2025 and still small and thinly traded, so spreads can run wider than on the long-established mega-cap leveraged funds.
  • QCML The daily reset compounds. Hold longer than a day and the result can drift well away from 2x QCOM's move, and choppy stretches widen that gap.graniteshares.com
  • At 1.50% net of a waiver through December 31, 2026 (7.39% gross), it sits above the category's typical fee; peers like OKTG (0.75%) and TSMG (0.76%) charge less.
  • One stock, double speed. The prospectus materials spell it out: an investor could lose the full value of the position within a single trading day.graniteshares.comgraniteshares.com 2

Full OKTG profile⁠

Full QCML profile⁠

OKTG vs QCML 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.

OKTG vs QCML Cost

Overpaying QCML vs OKTG

$12,224

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

  • OKTG 0.75%

    $14,482

  • QCML 1.53%

    $26,706

$10,000
30 years

Cost over time

  • OKTG 0.75%
  • QCML 1.53%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530QCML $26,706OKTG $14,482

Year by year

YearOKTGQCMLOverpaying
10$1,336$2,639$1,303
20$5,078$9,685$4,607
30$14,482$26,706$12,224

Expense ratio

  • 0.75%OKTG, cheaper
  • 1.53%QCML
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 315 funds

QCML 301st cheapest of 315 funds

OKTG vs QCML Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
OKTG None
QCML None

Distribution history

OKTGAll OKTG payments⁠

No distribution history available.

QCMLAll QCML payments⁠

No distribution history available.

OKTG vs QCML Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
OKTG No dataQCML 117.9%since Mar 2025
Return per unit of riskSharpe ratio, 3 years
OKTG No dataQCML 0.25since Mar 2025
Worst fallMax drawdown, 5 years
OKTG No dataQCML −68.8%since Feb 2025
Market sensitivityBeta, 5 years
OKTG 2.39QCML 6.12

Popular comparisons

  • OKTGAvsTSMGA

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

    Expense ratio
    0.75% · 0.76%
    Category
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  • QCMLCvsTSMGA

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

    Expense ratio
    1.53% · 0.76%
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  • OKTGAvsUNHGA

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

    Expense ratio
    0.75% · 0.77%
    Category
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  • QCMLCvsUNHGA

    GraniteShares 2x Long QCOM Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.53% · 0.77%
    Category
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  • OKTGAvsPANGA

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

    Expense ratio
    0.75% · 0.76%
    Category
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  • QCMLCvsPANGA

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

    Expense ratio
    1.53% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.