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SMUP vs UNHG

T-Rex 2x Long SMR Daily Target ETF

SMUPFCboe

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.73pt a year

SMUP1.50%UNHG0.77%

Avg volume · 30D

UNHG 3.2×the volume

SMUP225KUNHG726K

SMUP vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

−98.8%SMUP+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. SMUP −98.8%. UNHG +11.9%. Use the arrow keys to read each point.−75%−50%−25%Oct 2025Apr 2026Oct 2026
Expense ratio
SMUP 1.50%
UNHG 0.77%, better
Fund size
SMUP $4M
UNHG $63M
1Y total return
SMUP −98.8%
UNHG +11.9%, better
Holdings
SMUP 2
UNHG 5
Avg volume (30D)
SMUP 225K sh
UNHG 726K sh, better
NAV per share
SMUP $1.70
UNHG $20.57
52W range

ETF.net Grade

SMUP: Cost 11, Risk 7, Mission not scored, Tradability 28, Holdings not scored, Durability 55. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for SMUP, UNHG, with each pillar’s weight
PillarSMUPUNHG
Cost30% weightF11B60Higher
Mission25% weightNot scoredA90
Risk15% weightF7A83Higher
Tradability15% weightD28A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB55B66Higher

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. SMUP 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 SMUP 305th 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 304FEOSUT-REX 2X Long EOSE Daily Target ETFScore 18
  5. Rank 305FSMUPT-Rex 2x Long SMR Daily Target ETFScore 17
  6. Rank 306FASUPT-REX 2X Long ASTS Daily Target ETFScore 15

Our read on each fund

ETF.net Research

SMUPFT-Rex 2x Long SMR Daily Target ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

SMUP 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

SMUP 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

SMUP 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

SMUP 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 SMUP profile⁠

Full UNHG profile⁠

SMUP 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.

SMUP vs UNHG Cost

Overpaying SMUP vs UNHG

$11,454

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

  • SMUP 1.50%

    $26,283

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • SMUP 1.50%
  • 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$30K051015202530SMUP $26,283UNHG $14,829

Year by year

YearSMUPUNHGOverpaying
10$2,590$1,371$1,219
20$9,519$5,205$4,314
30$26,283$14,829$11,454

Expense ratio

  • 1.50%SMUP
  • 0.77%UNHG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

SMUP 271st cheapest of 315 funds

SMUP vs UNHG Dividends

Last 12 months to Oct 30, 2026
Last payment
SMUP $52.75
UNHG $1.90
Ex-dividend
SMUP Dec 24, 2025
UNHG Dec 30, 2025
Paid on
SMUP Dec 26, 2025
UNHG Jan 2, 2026
Frequency
SMUP Irregular
UNHG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

SMUPIrregular · 1 paymentAll SMUP payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $52.75. Use the arrow keys to read each point.$0$502026YTD
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$502026YTD

SMUP vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SMUP 126.5%since Aug 2025UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
SMUP −1.82since Aug 2025UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
SMUP −99.4%since Jul 2025UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
SMUP 5.55UNHG 5.53

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