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SOUX vs UNHG

Daily Target 2X Long SOUN ETF

SOUXDNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

UNHG −0.55pt a year

SOUX1.32%UNHG0.77%

Avg volume · 30D

UNHG 7.6×the volume

SOUX97.7KUNHG744K

SOUX vs UNHG Performance

Nov 7, 2025 – Nov 9, 2026

−96.5%SOUX+18.8%UNHG

Nov 7, 2025 to Nov 9, 2026. SOUX −96.5%. UNHG +18.8%. Use the arrow keys to read each point.−75%−50%−25%0%50%Nov 2025May 2026Nov 2026
Expense ratio
SOUX 1.32%
UNHG 0.77%, better
Fund size
SOUX $4M
UNHG $73M
1Y total return
SOUX −96.5%
UNHG +18.8%, better
Holdings
SOUX 10
UNHG 6
Avg volume (30D)
SOUX 97.7K sh
UNHG 744K sh, better
NAV per share
SOUX $3.57
UNHG $19.20
52W range

ETF.net Grade

SOUX: Cost 26, Risk 24, Mission 96, Tradability 37, Holdings not scored, Durability 59. UNHG: Cost 61, Risk 86, Mission 91, Tradability 91, Holdings not scored, Durability 67.
Pillar letters and Scores for SOUX, UNHG, with each pillar’s weight
PillarSOUXUNHG
Cost30% weightD26B61Higher
Mission25% weightA96HigherA91
Risk15% weightF24A86Higher
Tradability15% weightD37A91Higher
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. SOUX 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 SOUX 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 284DRIOXDaily Target 2X Long RIOT ETFScore 30
  4. Rank 284DSOUXDaily Target 2X Long SOUN ETFScore 30
  5. Rank 288DMSTPGraniteShares 2x Long MSTR Daily ETFScore 29

Our read on each fund

ETF.net Research

SOUXDDaily Target 2X Long SOUN ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

SOUX SoundHound AI at double volume, one day at a time. Defiance got to this trade first: 2x daily SOUN exposure through swaps, no margin account needed. The leverage resets each day, and it charges 1.32% a year.

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

SOUX The Fund seeks daily investment results equal to twice the daily percentage change in SoundHound AI, Inc.'s share price, 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

  • SOUX First out of the gate on SoundHound AI (June 2025 launch): 2x daily exposure that sits in a plain brokerage account, no margin agreement required.etfgi.com
  • Since launch it has stayed close to its stated target of 200% of SOUN's daily move, before fees.
  • One ticker, one job: double the day's move in a single stock, built with swaps inside a 1940 Act fund rather than a note.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

  • SOUX At 1.32% it costs more than the cheapest 2x single-stock funds (TSMG 0.76%, OKTG 0.75%, neither waived) and above the category median.
  • The daily reset is the whole mechanism: over longer stretches, compounding can push returns away from 2x the stock's move, especially in choppy markets.defianceetfs.com
  • Still a small, moderately traded fund, so spreads and liquidity are part of the cost of doing business.
  • 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 SOUX profile⁠

Full UNHG profile⁠

SOUX 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.

SOUX vs UNHG Cost

Overpaying SOUX vs UNHG

$8,839

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

  • SOUX 1.32%

    $23,668

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • SOUX 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$25K051015202530SOUX $23,668UNHG $14,829

Year by year

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

Expense ratio

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

UNHG 135th cheapest of 312 funds

SOUX 243rd cheapest of 312 funds

SOUX vs UNHG Dividends

Last 12 months to Nov 9, 2026
Last payment
SOUX $8.84
UNHG $1.90
Ex-dividend
SOUX Dec 30, 2025
UNHG Dec 30, 2025
Paid on
SOUX Dec 31, 2025
UNHG Jan 2, 2026
Frequency
SOUX Irregular
UNHG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

SOUXIrregular · 1 paymentAll SOUX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $8.84. Use the arrow keys to read each point.$0$102026YTD
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$102026YTD

SOUX vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SOUX 119.6%since Jul 2025UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
SOUX −1.15since Jul 2025UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
SOUX −98.6%since Jun 2025UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
SOUX 6.94UNHG 5.19

Popular comparisons

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    Daily Target 2X Long SOUN ETF · Leverage Shares 2x Long TSM Daily ETF

    Expense ratio
    1.32% · 0.76%
    Category
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  • UNHGAvsTSMGA

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    Expense ratio
    0.77% · 0.76%
    Category
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  • SOUXDvsCOTGA

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  • UNHGAvsCOTGA

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    Expense ratio
    0.77% · 0.77%
    Category
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  • SOUXDvsOKTGA

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    Expense ratio
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    Category
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  • UNHGAvsOKTGA

    Leverage Shares 2x Long UNH Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    0.77% · 0.75%
    Category
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