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QSU vs UNHG

Daily Target 2X Long QS ETF

QSUDNYSE Arca

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.55pt a year

QSU1.32%UNHG0.77%

Avg volume · 30D

UNHG 7.8×the volume

QSU95.8KUNHG744K

QSU vs UNHG Performance

Nov 7, 2025 – Nov 9, 2026

−96.9%QSU+18.8%UNHG

Nov 7, 2025 to Nov 9, 2026. QSU −96.9%. UNHG +18.8%. Use the arrow keys to read each point.−75%−50%−25%0%50%Nov 2025May 2026Nov 2026
Expense ratio
QSU 1.32%
UNHG 0.77%, better
Fund size
QSU $5M
UNHG $73M
1Y total return
QSU −96.9%
UNHG +18.8%, better
Holdings
QSU 9
UNHG 6
Avg volume (30D)
QSU 95.8K sh
UNHG 744K sh, better
NAV per share
QSU $3.13
UNHG $19.20
52W range

ETF.net Grade

QSU: Cost 26, Risk 20, Mission 89, Tradability 40, Holdings not scored, Durability 59. UNHG: Cost 61, Risk 86, Mission 91, Tradability 91, Holdings not scored, Durability 67.
Pillar letters and Scores for QSU, UNHG, with each pillar’s weight
PillarQSUUNHG
Cost30% weightD26B61Higher
Mission25% weightA89A91Higher
Risk15% weightF20A86Higher
Tradability15% weightC40A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB59B67Higher

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. QSU and UNHG are both graded against the same 312 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 312 funds
See all 312 ›

UNHG ranks 1st and QSU 284th of 312 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1AUNHGLeverage Shares 2x Long UNH Daily ETFScore 74
  2. Rank 2ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  3. Rank 284DOKLLDaily Target 2X Long OKLO ETFScore 30
  4. Rank 284DQSUDaily Target 2X Long QS ETFScore 30
  5. Rank 284DRIOXDaily Target 2X Long RIOT ETFScore 30

Our read on each fund

ETF.net Research

QSUDDaily Target 2X Long QS ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

QSU The first 2x ETF on QuantumScape. QSU aims to deliver 200% of QS's daily move, resets every session, and charges 1.32% a year with no fee waiver.

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

QSU The Fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in QuantumScape Corporation's share price. It is designed for a single trading day rather than longer holding periods.

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

  • QSU Defiance got there first: QSU launched in 2025 as the debut 2x long vehicle on QuantumScape, the solid-state battery developer.nasdaq.com
  • The daily math is the entire job, and QSU has hit its stated 200% target closely.
  • It is a registered 1940 Act fund, so the position is sized in shares: no margin account, no option expiry, no loss beyond what you put in.defianceetfs.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

  • QSU The leverage resets daily. Hold longer and results compound, so a choppy stretch in QS can leave the fund well off 2x the stock's move for the period.
  • At 1.32% with no waiver, it runs above the category median and above 2x single-stock peers like TSMG (0.76%) and OKTG (0.75%), neither of which waives fees.
  • Young and small: a 2025 launch with a modest asset base, moderate trading, and every dollar riding on one company's share price.
  • 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 QSU profile⁠

Full UNHG profile⁠

QSU 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.

QSU vs UNHG Cost

Overpaying QSU vs UNHG

$8,839

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

  • QSU 1.32%

    $23,668

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • QSU 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$25K051015202530QSU $23,668UNHG $14,829

Year by year

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

Expense ratio

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

UNHG 135th cheapest of 312 funds

QSU 243rd cheapest of 312 funds

QSU vs UNHG Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
QSU None
UNHG No data
Last payment
QSU No data
UNHG $1.90
Ex-dividend
QSU No data
UNHG Dec 30, 2025
Paid on
QSU No data
UNHG Jan 2, 2026
Frequency
QSU No data
UNHG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

QSUAll QSU 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

QSU vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
QSU 108.1%since Nov 2025UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
QSU −2.55since Nov 2025UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
QSU −98.2%since Oct 2025UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
QSU 5.66UNHG 5.19

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