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OKTG vs SMCL

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

GraniteShares 2x Long SMCI Daily ETF

SMCLCNasdaq

Overlap

Expense ratio

OKTG −0.65pt a year

OKTG0.75%SMCL1.40%

Avg volume · 30D

SMCL 20.2×the volume

OKTG38.5KSMCL776K

OKTG vs SMCL Performance

Dec 31, 2025 – Oct 30, 2026

+247.6%OKTG−61.6%SMCL

Dec 31, 2025 to Oct 30, 2026. OKTG +247.6%. SMCL −61.6%. Use the arrow keys to read each point.0%100%200%300%Dec 2025Jun 2026Oct 2026
Expense ratio
OKTG 0.75%, better
SMCL 1.40%
Fund size
OKTG $8M
SMCL $34M
1Y total return
OKTG No data
SMCL −89.1%
Holdings
OKTG 5
SMCL 2
Avg volume (30D)
OKTG 38.5K sh
SMCL 776K sh, better
NAV per share
OKTG $53.95
SMCL $12.66
52W range

ETF.net Grade

OKTG: Cost 70, Risk 76, Mission 94, Tradability 73, Holdings not scored, Durability 51. SMCL: Cost 20, Risk 35, Mission not scored, Tradability 88, Holdings not scored, Durability 76.
Pillar letters and Scores for OKTG, SMCL, with each pillar’s weight
PillarOKTGSMCL
Cost30% weightA70HigherF20
Mission25% weightA94Not scored
Risk15% weightA76HigherD35
Tradability15% weightA73A88Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC51A76Higher

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 SMCL 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 SMCL 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 111CSKUUGraniteShares 2x Long SK Hynix Daily ETFScore 43
  6. Rank 111CSMCLGraniteShares 2x Long SMCI Daily ETFScore 43
  7. Rank 117CLNOKDaily Target 2X Long NOK ETFScore 42

Our read on each fund

ETF.net Research

OKTGALeverage Shares 2x Long OKTA Daily ETF

SMCLCGraniteShares 2x Long SMCI 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.

SMCL No data

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.

SMCL No data

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.

SMCL No data

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.

SMCL No data

Full OKTG profile⁠

Full SMCL profile⁠

OKTG vs SMCL 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 SMCL Cost

Overpaying SMCL vs OKTG

$10,364

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

  • OKTG 0.75%

    $14,482

  • SMCL 1.40%

    $24,846

$10,000
30 years

Cost over time

  • OKTG 0.75%
  • SMCL 1.40%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530SMCL $24,846OKTG $14,482

Year by year

YearOKTGSMCLOverpaying
10$1,336$2,427$1,091
20$5,078$8,961$3,883
30$14,482$24,846$10,364

Expense ratio

  • 0.75%OKTG, cheaper
  • 1.40%SMCL
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 315 funds

SMCL 256th cheapest of 315 funds

OKTG vs SMCL Dividends

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

Distribution history

OKTGAll OKTG payments⁠

No distribution history available.

SMCLAll SMCL payments⁠

No distribution history available.

OKTG vs SMCL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
OKTG No dataSMCL 186.4%since Jan 2025
Return per unit of riskSharpe ratio, 3 years
OKTG No dataSMCL 0.23since Jan 2025
Worst fallMax drawdown, 5 years
OKTG No dataSMCL −97.5%since Dec 2024
Market sensitivityBeta, 5 years
OKTG 2.39SMCL 8.24

Popular comparisons

  • OKTGAvsTSMGA

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

    Expense ratio
    0.75% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SMCLCvsTSMGA

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

    Expense ratio
    1.40% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • OKTGAvsUNHGA

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

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

  • SMCLCvsUNHGA

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

    Expense ratio
    1.40% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • OKTGAvsPANGA

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

    Expense ratio
    0.75% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SMCLCvsPANGA

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

    Expense ratio
    1.40% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.