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QCML vs UNHG

GraniteShares 2x Long QCOM Daily ETF

QCMLCNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.76pt a year

QCML1.53%UNHG0.77%

Avg volume · 30D

QCML 2.3×the volume

QCML1.68MUNHG726K

QCML vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

−41.9%QCML+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. QCML −41.9%. UNHG +11.9%. Use the arrow keys to read each point.−60%−20%40%60%Oct 2025Apr 2026Oct 2026
Expense ratio
QCML 1.53%
UNHG 0.77%, better
Fund size
QCML $45M
UNHG $63M
1Y total return
QCML −41.9%
UNHG +11.9%, better
Holdings
QCML 2
UNHG 5
Avg volume (30D)
QCML 1.68M sh, better
UNHG 726K sh
NAV per share
QCML $18.17
UNHG $20.57
52W range

ETF.net Grade

QCML: Cost 3, Risk 63, Mission 79, Tradability 94, Holdings not scored, Durability 77. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for QCML, UNHG, with each pillar’s weight
PillarQCMLUNHG
Cost30% weightF3B60Higher
Mission25% weightA79A90Higher
Risk15% weightB63A83Higher
Tradability15% weightA94HigherA91
Holdings10% weightNot scoredNot scored
Durability5% weightA77HigherB66

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. QCML 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 QCML 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 111CPURDefiance Daily Target 2X Long PURR ETFScore 43
  5. Rank 111CQCMLGraniteShares 2x Long QCOM Daily ETFScore 43
  6. Rank 111CSKUUGraniteShares 2x Long SK Hynix Daily ETFScore 43

Our read on each fund

ETF.net Research

QCMLCGraniteShares 2x Long QCOM Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

QCML Two times Qualcomm's move, one day at a time. QCML never owns a QCOM share: it rents the exposure through swaps, resets every night, and costs 1.50% net of a waiver through December 31, 2026 (7.39% gross).

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

QCML The fund seeks daily investment results equal to twice the daily percentage change of Qualcomm Inc.'s common 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

  • QCML One job, stated plainly: it aims for twice QCOM's daily percentage change, before fees. No basket, no index committee, no mystery holdings.graniteshares.com
  • Small fund, busy tape. It trades actively, which is what matters when the holding period is measured in hours rather than years.
  • Day to day it has tracked its 2x target closely, and it sits in the upper half of a crowded leveraged single-stock field.
  • Part of one of the deepest single-stock leverage lineups on the market, so the plumbing here is well worn rather than experimental.graniteshares.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

  • QCML The daily reset compounds. Hold longer than a day and the result can drift well away from 2x QCOM's move, and choppy stretches widen that gap.graniteshares.com
  • At 1.50% net of a waiver through December 31, 2026 (7.39% gross), it sits above the category's typical fee; peers like OKTG (0.75%) and TSMG (0.76%) charge less.
  • One stock, double speed. The prospectus materials spell it out: an investor could lose the full value of the position within a single trading day.graniteshares.comgraniteshares.com 2
  • 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 QCML profile⁠

Full UNHG profile⁠

QCML 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.

QCML vs UNHG Cost

Overpaying QCML vs UNHG

$11,877

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

  • QCML 1.53%

    $26,706

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • QCML 1.53%
  • UNHG 0.77%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530QCML $26,706UNHG $14,829

Year by year

YearQCMLUNHGOverpaying
10$2,639$1,371$1,268
20$9,685$5,205$4,480
30$26,706$14,829$11,877

Expense ratio

  • 1.53%QCML
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

QCML 301st cheapest of 315 funds

QCML vs UNHG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

QCMLAll QCML 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

QCML vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
QCML 117.9%since Mar 2025UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
QCML 0.25since Mar 2025UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
QCML −68.8%since Feb 2025UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
QCML 6.12UNHG 5.53

Popular comparisons

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