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RCAX vs UNHG

Daily Target 2X Long RCAT ETF

RCAXDNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.53pt a year

RCAX1.30%UNHG0.77%

Avg volume · 30D

UNHG 8.6×the volume

RCAX84.3KUNHG726K

RCAX vs UNHG Performance

Jul 31, 2026 – Oct 30, 2026

−70.9%RCAX−8.1%UNHG

Jul 31, 2026 to Oct 30, 2026. RCAX −70.9%. UNHG −8.1%. Use the arrow keys to read each point.−50%50%100%Jul 2026Sep 2026Oct 2026
Expense ratio
RCAX 1.30%
UNHG 0.77%, better
Fund size
RCAX $3M
UNHG $63M
1Y total return
RCAX No data
UNHG +11.9%
Holdings
RCAX 8
UNHG 5
Avg volume (30D)
RCAX 84.3K sh
UNHG 726K sh, better
NAV per share
RCAX $4.00
UNHG $20.57
52W range

ETF.net Grade

RCAX: Cost 32, Risk 16, Mission 96, Tradability 26, Holdings not scored, Durability 50. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for RCAX, UNHG, with each pillar’s weight
PillarRCAXUNHG
Cost30% weightD32B60Higher
Mission25% weightA96HigherA90
Risk15% weightF16A83Higher
Tradability15% weightD26A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC50B66Higher

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. RCAX 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 RCAX 283rd 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 283DQSUDaily Target 2X Long QS ETFScore 28
  5. Rank 283DRCAXDaily Target 2X Long RCAT ETFScore 28
  6. Rank 289DAKALT-REX 2X Long AKAM Daily Target ETFScore 27

Our read on each fund

ETF.net Research

RCAXDDaily Target 2X Long RCAT ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

RCAX The first 2x long ETF on Red Cat Holdings, a military drone maker. It aims for 200% of RCAT's daily move, resets every night, and charges 1.30%.

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

RCAX The fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in Red Cat Holdings, Inc.'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

  • RCAX Defiance built this as the first 2X long ETF on Red Cat Holdings, so amplified bullish exposure to one drone name takes a single ticker and no margin account.etfgi.com
  • The mandate is narrow and literal: two times RCAT's daily percentage change, before fees. Day to day, it has tracked that stated target closely.
  • Red Cat builds drone hardware and software for military, government and commercial users, so this is one concentrated name rather than a diluted drone basket.redcat.red
  • 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

  • RCAX Daily reset is the whole story. Hold past one session and compounding takes over, so multi-day results can diverge sharply from 2x RCAT's move, especially in choppy stretches.
  • At 1.30%, the fee sits above the category median and above 2x single-stock peers like TSMG (0.76%) and OKTG (0.75%).
  • Launched February 2026, it is still a small fund with a short record, and volume is moderate, so spreads and position size deserve a look before trading.
  • 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 RCAX profile⁠

Full UNHG profile⁠

RCAX 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.

RCAX vs UNHG Cost

Overpaying RCAX vs UNHG

$8,540

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

  • RCAX 1.30%

    $23,369

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • RCAX 1.30%
  • 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$25K051015202530RCAX $23,369UNHG $14,829

Year by year

YearRCAXUNHGOverpaying
10$2,263$1,371$892
20$8,393$5,205$3,188
30$23,369$14,829$8,540

Expense ratio

  • 1.30%RCAX
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

RCAX 229th cheapest of 315 funds

RCAX vs UNHG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

RCAXAll RCAX 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

RCAX vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
RCAX No dataUNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
RCAX No dataUNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
RCAX No dataUNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
RCAX 0.73UNHG 5.53

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