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ONG vs UNHG

Leverage Shares 2X Long ON Daily ETF

ONGCCboe

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

ONG −0.02pt a year

ONG0.75%UNHG0.77%

Avg volume · 30D

UNHG 12.6×the volume

ONG57.8KUNHG726K

ONG vs UNHG Performance

Jul 31, 2026 – Oct 30, 2026

−31.2%ONG−8.1%UNHG

Jul 31, 2026 to Oct 30, 2026. ONG −31.2%. UNHG −8.1%. Use the arrow keys to read each point.−20%0%Jul 2026Sep 2026Oct 2026
Expense ratio
ONG 0.75%, better
UNHG 0.77%
Fund size
ONG $1M
UNHG $63M
1Y total return
ONG No data
UNHG +11.9%
Holdings
ONG 3
UNHG 5
Avg volume (30D)
ONG 57.8K sh
UNHG 726K sh, better
NAV per share
ONG $3.77
UNHG $20.57
52W range

ETF.net Grade

ONG: Cost 70, Risk 34, Mission not scored, Tradability 53, Holdings not scored, Durability 36. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for ONG, UNHG, with each pillar’s weight
PillarONGUNHG
Cost30% weightA70HigherB60
Mission25% weightNot scoredA90
Risk15% weightD34A83Higher
Tradability15% weightC53A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD36B66Higher

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. ONG 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 ONG 123rd 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 123CONDCCorgi ONDS 2x Daily ETFScore 40
  5. Rank 123CONGLeverage Shares 2X Long ON Daily ETFScore 40
  6. Rank 123CONTXCorgi ONTO 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

ONGCLeverage Shares 2X Long ON Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

ONG A one-stock lever on onsemi, the power-chip and silicon carbide name behind EVs and industrial gear. ONG aims for 200% of ON's daily move, reset every session, at a fee that undercuts most 2x single-stock bulls.

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

ONG The fund seeks daily investment results equal to 200% of the daily performance of ON Semiconductor Corporation stock, before fees and expenses.

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

  • ONG The mandate is blunt: 200% of ON Semiconductor's daily move, before fees. No index, no basket, no stock picking.leverageshares.com
  • A 0.75% expense ratio sits below the median for 2x single-stock bull funds and undercuts highly ranked peers like GGLL on cost.
  • onsemi makes power and sensing chips, with a large silicon carbide business aimed at vehicles and industrial systems, so the ride tracks a different chip cycle than AI GPU names.onsemi.comsec.gov
  • It is a registered 1940 Act fund with a full prospectus, not a note or a swap contract you hold directly.leverageshares.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

  • ONG Leverage resets daily. Hold past a single session and the path of ON's moves, not just the direction, shapes the outcome, and choppy stretches work against it.leverageshares.com
  • Small asset base, light trading. Spreads can run wider than on the heavily traded mega-cap leveraged wrappers, which matters most on fast days.
  • Launched in 2026 with no distributions, so there is little history yet to study across a full semiconductor cycle.
  • 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 ONG profile⁠

Full UNHG profile⁠

ONG 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.

ONG vs UNHG Cost

Overpaying UNHG vs ONG

$347

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

  • ONG 0.75%

    $14,482

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • ONG 0.75%
  • 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$15K051015202530UNHG $14,829ONG $14,482

Year by year

YearONGUNHGOverpaying
10$1,336$1,371$35
20$5,078$5,205$127
30$14,482$14,829$347

Expense ratio

  • 0.75%ONG, cheaper
  • 0.77%UNHG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

ONG 87th cheapest of 315 funds

UNHG 135th cheapest of 315 funds

ONG vs UNHG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

ONGAll ONG 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

ONG vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ONG No dataUNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
ONG No dataUNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
ONG No dataUNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
ONG −3.69UNHG 5.53

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