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ONDL vs UNHG

Daily Target 2X Long ONDS ETF

ONDLDCboe

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.55pt a year

ONDL1.32%UNHG0.77%

Avg volume · 30D

ONDL 2.0×the volume

ONDL1.46MUNHG726K

ONDL vs UNHG Performance

Dec 31, 2025 – Nov 2, 2026

−88.8%ONDL+18.4%UNHG

Dec 31, 2025 to Nov 2, 2026. ONDL −88.8%. UNHG +18.4%. Use the arrow keys to read each point.−50%50%100%Dec 2025Jun 2026Nov 2026
Expense ratio
ONDL 1.32%
UNHG 0.77%, better
Fund size
ONDL $21M
UNHG $63M
1Y total return
ONDL No data
UNHG +8.4%
Holdings
ONDL 9
UNHG 5
Avg volume (30D)
ONDL 1.46M sh, better
UNHG 726K sh
NAV per share
ONDL $3.61
UNHG $20.57
52W range

ETF.net Grade

ONDL: Cost 25, Risk 32, Mission 66, Tradability 62, Holdings not scored, Durability 65. UNHG: Cost 60, Risk 83, Mission 90, Tradability 90, Holdings not scored, Durability 66.
Pillar letters and Scores for ONDL, UNHG, with each pillar’s weight
PillarONDLUNHG
Cost30% weightD25B60Higher
Mission25% weightB66A90Higher
Risk15% weightD32A83Higher
Tradability15% weightB62A90Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB65B66Higher

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. ONDL and UNHG 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 ›

UNHG ranks 2nd and ONDL 252nd 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 252DIONXDefiance Daily Target 2X Long IONQ ETFScore 38
  5. Rank 252DONDLDaily Target 2X Long ONDS ETFScore 38
  6. Rank 255DGMEUT-Rex 2X Long GME Daily Target ETFScore 37

Our read on each fund

ETF.net Research

ONDLDDaily Target 2X Long ONDS ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

ONDL Twice the daily move of Ondas Holdings, the drone and counter-drone outfit, in a single ticker, and the cheaper of the 2x ONDS pair at 1.32%. Daily reset means compounding, not just direction, drives anything held past a day.

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

ONDL The fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in Ondas Holdings Inc. and therefore provides amplified long exposure to that company.

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

  • ONDL Does one job: derivative exposure aiming for 200% of the daily percentage change in ONDS, no margin account or options chain required.defianceetfs.com
  • The cheaper of the two 2x ONDS funds: 1.32% versus ONDU's 1.49%, neither propped up by a fee waiver.
  • Actively traded for a fund of its size, so getting in and out is usually the easy part of the trade.
  • The underlying business is a real defense-adjacent story: Ondas owns American Robotics and Airobotics, autonomous drone and counter-drone operations, plus a private wireless arm.ondas.com
  • 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.comsec.gov

Worth knowing

  • ONDL The 1.32% fee sits above the typical leveraged single-stock fund, and the category's cheapest implementations (OKTG 0.75%, TSMG 0.76%) ride far larger companies.
  • Leverage resets daily. In choppy stretches, two times the daily move can compound into something well short of twice the stock's longer-run move.defianceetfs.com
  • Everything rides on one small-cap drone company, doubled. No diversification, and leveraged swap exposure isn't built to throw off income.
  • 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 ONDL profile⁠

Full UNHG profile⁠

ONDL vs 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.

ONDL vs UNHG Cost

Overpaying ONDL vs UNHG

$8,839

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

  • ONDL 1.32%

    $23,668

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • ONDL 1.32%
  • UNHG 0.77%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530ONDL $23,668UNHG $14,829

Year by year

YearONDLUNHGOverpaying
10$2,296$1,371$925
20$8,507$5,205$3,302
30$23,668$14,829$8,839

Expense ratio

  • 1.32%ONDL
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

ONDL 243rd cheapest of 315 funds

ONDL vs UNHG Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
ONDL None
UNHG No data
Last payment
ONDL No data
UNHG $1.90
Ex-dividend
ONDL No data
UNHG Dec 30, 2025
Paid on
ONDL No data
UNHG Jan 2, 2026
Frequency
ONDL No data
UNHG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

ONDLAll ONDL payments⁠

No distribution history available.

UNHGIrregular · 1 paymentAll UNHG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.90. Use the arrow keys to read each point.$0$22026YTD

ONDL vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ONDL No dataUNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
ONDL No dataUNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
ONDL No dataUNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
ONDL 4.81UNHG 5.19

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