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SMCL vs UNHG

GraniteShares 2x Long SMCI Daily ETF

SMCLCNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.63pt a year

SMCL1.40%UNHG0.77%

Avg volume · 30D

SMCL 1.1×the volume

SMCL776KUNHG726K

SMCL vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

−89.1%SMCL+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. SMCL −89.1%. UNHG +11.9%. Use the arrow keys to read each point.−75%−50%−25%Oct 2025Apr 2026Oct 2026
Expense ratio
SMCL 1.40%
UNHG 0.77%, better
Fund size
SMCL $34M
UNHG $63M
1Y total return
SMCL −89.1%
UNHG +11.9%, better
Holdings
SMCL 2
UNHG 5
Avg volume (30D)
SMCL 776K sh, better
UNHG 726K sh
NAV per share
SMCL $12.66
UNHG $20.57
52W range

ETF.net Grade

SMCL: Cost 20, Risk 35, Mission not scored, Tradability 88, Holdings not scored, Durability 76. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for SMCL, UNHG, with each pillar’s weight
PillarSMCLUNHG
Cost30% weightF20B60Higher
Mission25% weightNot scoredA90
Risk15% weightD35A83Higher
Tradability15% weightA88A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA76HigherB66

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. SMCL 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 SMCL 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 111CSKUUGraniteShares 2x Long SK Hynix Daily ETFScore 43
  5. Rank 111CSMCLGraniteShares 2x Long SMCI Daily ETFScore 43
  6. Rank 117CLNOKDaily Target 2X Long NOK ETFScore 42

Our read on each fund

ETF.net Research

SMCLCGraniteShares 2x Long SMCI Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

SMCL No data

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

SMCL No data

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

SMCL No data

  • 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

SMCL No data

  • 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 SMCL profile⁠

Full UNHG profile⁠

SMCL 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.

SMCL vs UNHG Cost

Overpaying SMCL vs UNHG

$10,017

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

  • SMCL 1.40%

    $24,846

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • SMCL 1.40%
  • 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$25K051015202530SMCL $24,846UNHG $14,829

Year by year

YearSMCLUNHGOverpaying
10$2,427$1,371$1,056
20$8,961$5,205$3,756
30$24,846$14,829$10,017

Expense ratio

  • 1.40%SMCL
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

SMCL 256th cheapest of 315 funds

SMCL vs UNHG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

SMCLAll SMCL 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

SMCL vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SMCL 186.4%since Jan 2025UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
SMCL 0.23since Jan 2025UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
SMCL −97.5%since Dec 2024UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
SMCL 8.24UNHG 5.53

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