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TERG vs UNHG

Leverage Shares 2X Long TER Daily ETF

TERGBNasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

TERG −0.02pt a year

TERG0.75%UNHG0.77%

Avg volume · 30D

UNHG 17.4×the volume

TERG42.7KUNHG744K

TERG vs UNHG Performance

Dec 31, 2025 – Nov 9, 2026

−21.9%TERG+16.3%UNHG

Dec 31, 2025 to Nov 9, 2026. TERG −21.9%. UNHG +16.3%. Use the arrow keys to read each point.100%200%300%Dec 2025Jun 2026Nov 2026
Expense ratio
TERG 0.75%, better
UNHG 0.77%
Fund size
TERG $5M
UNHG $73M
1Y total return
TERG No data
UNHG +18.8%
Holdings
TERG 6
UNHG 6
Avg volume (30D)
TERG 42.7K sh
UNHG 744K sh, better
NAV per share
TERG $11.59
UNHG $19.20
52W range

ETF.net Grade

TERG: Cost 70, Risk 56, Mission 93, Tradability 62, Holdings not scored, Durability 50. UNHG: Cost 61, Risk 86, Mission 91, Tradability 91, Holdings not scored, Durability 67.
Pillar letters and Scores for TERG, UNHG, with each pillar’s weight
PillarTERGUNHG
Cost30% weightA70HigherB61
Mission25% weightA93HigherA91
Risk15% weightB56A86Higher
Tradability15% weightB62A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC50B67Higher

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. TERG 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 TERG 26th 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 26BMSFUDirexion Daily MSFT Bull 2X SharesScore 63
  4. Rank 26BTERGLeverage Shares 2X Long TER Daily ETFScore 63
  5. Rank 26BTSMXDirexion Daily TSM Bull 2X ETFScore 63

Our read on each fund

ETF.net Research

TERGBLeverage Shares 2X Long TER Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

TERG Two times Teradyne's daily move in one ticker. TERG prices at 0.75%, under the norm for single-stock leverage, and it resets exposure every day, which makes it a short-horizon instrument by design.

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

TERG The fund seeks daily investment results equal to 200% of the daily performance of Teradyne, Inc. stock, 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

  • TERG 0.75% a year, versus the roughly 1% that is typical across 2x single-stock ETFs. Cost is one of the few variables you actually control inside a leveraged wrapper.leverageshares.com
  • Stated goal is clean and measurable: 200% of Teradyne's daily performance before fees. On delivering that mandate it sits in the top slice of a crowded 2x single-stock field.leverageshares.com
  • A registered 1940 Act ETF, so the leverage arrives in an ordinary brokerage ticket. No margin agreement, no options chain, no positions to roll.leverageshares.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

  • TERG The 2x target applies to a single trading day. Over longer stretches, daily resets and volatility can pull results well away from twice Teradyne's move.
  • One company, doubled. An earnings surprise or guidance cut at Teradyne lands twice as hard, and there is nothing else inside the fund to cushion it.
  • Launched in November 2025, so the record is short, and trading is moderate rather than heavy, which can mean wider spreads than the biggest 2x single-stock names.
  • 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 TERG profile⁠

Full UNHG profile⁠

TERG 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.

TERG vs UNHG Cost

Overpaying UNHG vs TERG

$347

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

  • TERG 0.75%

    $14,482

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • TERG 0.75%
  • 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$15K051015202530UNHG $14,829TERG $14,482

Year by year

YearTERGUNHGOverpaying
10$1,336$1,371$35
20$5,078$5,205$127
30$14,482$14,829$347

Expense ratio

  • 0.75%TERG, cheaper
  • 0.77%UNHG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TERG 87th cheapest of 312 funds

UNHG 135th cheapest of 312 funds

TERG vs UNHG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

TERGAll TERG 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

TERG vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TERG No dataUNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
TERG No dataUNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
TERG No dataUNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
TERG 1.10UNHG 5.19

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