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OKTG vs SMCX

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

Daily Target 2X Long SMCI ETF

SMCXCNasdaq

Overlap

0.0%by weight

Expense ratio

OKTG −0.57pt a year

OKTG0.75%SMCX1.32%

Avg volume · 30D

SMCX 154.3×the volume

OKTG38.5KSMCX5.94M

OKTG vs SMCX Performance

Dec 31, 2025 – Oct 30, 2026

+247.6%OKTG−28.1%SMCX

Dec 31, 2025 to Oct 30, 2026. OKTG +247.6%. SMCX −28.1%. Use the arrow keys to read each point.100%200%300%Dec 2025Jun 2026Oct 2026
Expense ratio
OKTG 0.75%, better
SMCX 1.32%
Fund size
OKTG $8M
SMCX $139M
1Y total return
OKTG No data
SMCX −57.8%
Holdings
OKTG 5
SMCX 11
Avg volume (30D)
OKTG 38.5K sh
SMCX 5.94M sh, better
NAV per share
OKTG $53.95
SMCX $8.19
52W range

ETF.net Grade

OKTG: Cost 70, Risk 76, Mission 94, Tradability 73, Holdings not scored, Durability 51. SMCX: Cost 25, Risk 47, Mission not scored, Tradability 92, Holdings not scored, Durability 82.
Pillar letters and Scores for OKTG, SMCX, with each pillar’s weight
PillarOKTGSMCX
Cost30% weightA70HigherD25
Mission25% weightA94Not scored
Risk15% weightA76HigherC47
Tradability15% weightA73A92Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC51A82Higher

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 SMCX 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 SMCX 89th 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 89CSHPUDirexion Daily SHOP Bull 2X ETFScore 49
  6. Rank 89CSMCXDaily Target 2X Long SMCI ETFScore 49
  7. Rank 92CLLYXDaily Target 2X Long LLY ETFScore 48

Our read on each fund

ETF.net Research

OKTGALeverage Shares 2x Long OKTA Daily ETF

SMCXCDaily Target 2X Long SMCI 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.

SMCX Two times Super Micro's daily move, bought like any stock. The leverage resets every night, which makes SMCX a trading tool rather than a hold-and-forget position, and it carries a 1.32% expense ratio.

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.

SMCX The fund seeks daily leveraged investment results equal to 200% of the daily percentage change in Super Micro Computer, Inc.'s share price.

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.
  • SMCX The mandate is blunt: 200% of SMCI's daily percentage change. No discretion, no basket, no mystery about what moves it.
  • Very actively traded, so getting in and out usually costs little in spread, which matters when the holding period is measured in days.
  • Running since August 2024, and it stands as one of the stronger implementations among 2x single-stock bull funds.

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.
  • SMCX At 1.32% it sits above the typical single-stock leveraged fund, and above SMCC (0.45%), the other 2x fund on the same stock.
  • Leverage resets daily. Hold through a choppy stretch and the result can trail twice SMCI's move over that span, sometimes by a lot.
  • Everything rides on one company, doubled. A single earnings print or supply headline hits this fund twice as hard as the stock itself.

Full OKTG profile⁠

Full SMCX profile⁠

OKTG vs SMCX Holdings

How OKTG and SMCX differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of OKTG and 0.0% of SMCX.

Level by level

  • Asset classEquity, Leveraged/Inverse0.0%
  • Holdings0 in both0.0%
  • Countryby domicile100%

Sector

No Sector split for OKTG and SMCX.

Country, concentration and asset class

Country by domicile

Country weights in OKTG and SMCX, widest gap first
CountryMore in OKTGMore in SMCX
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • OKTG200.3%
  • SMCX238.2%

Securities held

  • OKTG1
  • SMCX3

Asset class

OKTG
Equity
SMCX
Leveraged/Inverse

Holdings

  • Only in OKTG1
  • In both0
  • Only in SMCX3

Only in OKTG

1 security, 0.3% of OKTG by weight

  • First American Treasury Obligations Fund 01/01/20400.32%

Only in SMCX

3 securities, 67.4% of SMCX by weight

  • United States Treasury Bill 11/19/202637.01%
  • Super Micro Computer Inc Nomura29.42%
  • First American Government Obligations Fund 12/01/20310.94%

Weight gaps

OKTG and SMCX share no securities.

All 6 OKTG holdings⁠All 12 SMCX 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 SMCX Cost

Overpaying SMCX vs OKTG

$9,186

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

  • OKTG 0.75%

    $14,482

  • SMCX 1.32%

    $23,668

$10,000
30 years

Cost over time

  • OKTG 0.75%
  • SMCX 1.32%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530SMCX $23,668OKTG $14,482

Year by year

YearOKTGSMCXOverpaying
10$1,336$2,296$960
20$5,078$8,507$3,429
30$14,482$23,668$9,186

Expense ratio

  • 0.75%OKTG, cheaper
  • 1.32%SMCX
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 315 funds

SMCX 243rd cheapest of 315 funds

OKTG vs SMCX Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
OKTG None
SMCX No data
Last payment
OKTG No data
SMCX $1.00
Ex-dividend
OKTG No data
SMCX Dec 30, 2025
Paid on
OKTG No data
SMCX Dec 31, 2025
Frequency
OKTG No data
SMCX Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

OKTGAll OKTG payments⁠

No distribution history available.

SMCXIrregular · 1 paymentAll SMCX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.00. Use the arrow keys to read each point.$0$12026YTD

OKTG vs SMCX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
OKTG No dataSMCX 174.8%since Sep 2024
Return per unit of riskSharpe ratio, 3 years
OKTG No dataSMCX 0.20since Sep 2024
Worst fallMax drawdown, 5 years
OKTG No dataSMCX −96.8%since Aug 2024
Market sensitivityBeta, 5 years
OKTG 2.39SMCX 7.80

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