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OKTG vs USAX

Leverage Shares 2x Long OKTA Daily ETF

OKTGANasdaq

Tradr 2X Long USAR Daily ETF

USAXDCboe

Overlap

Expense ratio

OKTG −0.74pt a year

OKTG0.75%USAX1.49%

Avg volume · 30D

USAX 3.9×the volume

OKTG38.5KUSAX149K

OKTG vs USAX Performance

Jul 31, 2026 – Nov 2, 2026

+39.8%OKTG−71.4%USAX

Jul 31, 2026 to Nov 2, 2026. OKTG +39.8%. USAX −71.4%. Use the arrow keys to read each point.0%100%Jul 2026Sep 2026Nov 2026
Expense ratio
OKTG 0.75%, better
USAX 1.49%
Fund size
OKTG $8M
USAX $5M
Holdings
OKTG 6
USAX 1
Avg volume (30D)
OKTG 38.5K sh
USAX 149K sh, better
NAV per share
OKTG $53.95
USAX $2.44
52W range

ETF.net Grade

OKTG: Cost 70, Risk 76, Mission 94, Tradability 73, Holdings not scored, Durability 51. USAX: Cost 11, Risk 29, Mission 92, Tradability 47, Holdings not scored, Durability 51.
Pillar letters and Scores for OKTG, USAX, with each pillar’s weight
PillarOKTGUSAX
Cost30% weightA70HigherF11
Mission25% weightA94HigherA92
Risk15% weightA76HigherD29
Tradability15% weightA73HigherC47
Holdings10% weightNot scoredNot scored
Durability5% weightC51C51

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 USAX 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 USAX 291st 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 291DRIOXDaily Target 2X Long RIOT ETFScore 26
  6. Rank 291DUSAXTradr 2X Long USAR Daily ETFScore 26
  7. Rank 295DCIFUT-REX 2X Long CIFR Daily Target ETFScore 25

Our read on each fund

ETF.net Research

OKTGALeverage Shares 2x Long OKTA Daily ETF

USAXDTradr 2X Long USAR 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.

USAX Two times the daily move of USA Rare Earth (USAR) in a single ticker. It resets every day, so it is built for one trading session, not for holding the rare earth story long term.

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.

USAX The Fund seeks daily results equal to twice the daily performance of USA Rare Earth, Inc. common shares, before fees and expenses. It is intended for a holding period of one trading day.

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.
  • USAX One ticker gets you 2x daily exposure to a single stock, no margin account or options approval involved.tradretfs.com
  • It has tracked its stated two-times daily target closely, which is the whole job of a daily leveraged fund.
  • Rare exposure: no other fund in its leveraged single-stock peer set is built on USA Rare Earth shares.

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.
  • USAX At 1.49% a year, it costs more than established 2x single-stock funds like GGLL (0.96%) or AMDG (0.75%).
  • Daily reset math: hold past one session and compounding can push results well away from 2x the stock's move over that stretch.
  • A small, young fund (launched 2026) with moderate trading, so spreads can be wider than the giants of the category.

Full OKTG profile⁠

Full USAX profile⁠

OKTG vs USAX 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 USAX Cost

Overpaying USAX vs OKTG

$11,659

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

  • OKTG 0.75%

    $14,482

  • USAX 1.49%

    $26,141

$10,000
30 years

Cost over time

  • OKTG 0.75%
  • USAX 1.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530USAX $26,141OKTG $14,482

Year by year

YearOKTGUSAXOverpaying
10$1,336$2,574$1,238
20$5,078$9,464$4,386
30$14,482$26,141$11,659

Expense ratio

  • 0.75%OKTG, cheaper
  • 1.49%USAX
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

OKTG 87th cheapest of 315 funds

USAX 263rd cheapest of 315 funds

OKTG vs USAX Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
OKTG None
USAX None

Distribution history

OKTGAll OKTG payments⁠

No distribution history available.

USAXAll USAX payments⁠

No distribution history available.

OKTG vs USAX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

Market sensitivityBeta, 5 years
OKTG 2.39USAX 0.00

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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  • USAXDvsTSMGA

    Tradr 2X Long USAR Daily ETF · Leverage Shares 2x Long TSM Daily ETF

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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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  • USAXDvsUNHGA

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    Expense ratio
    1.49% · 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
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • USAXDvsPANGA

    Tradr 2X Long USAR Daily ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    1.49% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.