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TSMG vs UNHG

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Overlap

Expense ratio

TSMG −0.01pt a year

TSMG0.76%UNHG0.77%

Avg volume · 30D

UNHG 10.5×the volume

TSMG69KUNHG726K

TSMG vs UNHG Performance

Oct 31, 2025 – Oct 30, 2026

+40.8%TSMG+11.9%UNHG

Oct 31, 2025 to Oct 30, 2026. TSMG +40.8%. UNHG +11.9%. Use the arrow keys to read each point.−50%−25%75%100%Oct 2025May 2026Oct 2026
Expense ratio
TSMG 0.76%, better
UNHG 0.77%
Fund size
TSMG $28M
UNHG $63M
1Y total return
TSMG +40.8%, better
UNHG +11.9%
Holdings
TSMG 5
UNHG 5
Avg volume (30D)
TSMG 69K sh
UNHG 726K sh, better
NAV per share
TSMG $33.77
UNHG $20.57
52W range

ETF.net Grade

TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67. UNHG: Cost 60, Risk 83, Mission 90, Tradability 91, Holdings not scored, Durability 66.
Pillar letters and Scores for TSMG, UNHG, with each pillar’s weight
PillarTSMGUNHG
Cost30% weightA70HigherB60
Mission25% weightA79A90Higher
Risk15% weightA84HigherA83
Tradability15% weightA74A91Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB67HigherB66

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. TSMG 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 ›

TSMG ranks 1st and UNHG 2nd 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

Our read on each fund

ETF.net Research

TSMGALeverage Shares 2x Long TSM Daily ETF

UNHGALeverage Shares 2x Long UNH Daily ETF

In short

TSMG Two times TSM, one day at a time. TSMG aims for 200% of Taiwan Semiconductor's daily move, no margin account required, at 0.75% a year, below what most leveraged single-stock funds charge.

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

TSMG The fund seeks daily investment results equal to 200% of the daily performance of Taiwan Semiconductor Manufacturing Company Ltd 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

  • TSMG Charges 0.75% a year, undercutting the 0.96% on Direxion's 2x single-stock funds such as AAPU and GGLL.leverageshares.com
  • The milder gear on the leveraged shelf: it targets double TSM's daily move, not triple.leverageshares.com
  • Leverage arrives inside a regular 1940 Act ETF. No margin agreement, no lender, and your exposure is capped at what you put in.leverageshares.com
  • Hits its stated daily target tightly, and rates among the stronger builds in a crowded field of 2x and 3x single-stock funds.
  • 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

  • TSMG The leverage resets every day. Hold longer and compounding takes over, so multi-day results can drift well away from twice TSM's move, especially in choppy markets.leverageshares.com
  • One stock, one industry. Everything rides on Taiwan Semiconductor, doubled, so company-specific news lands twice as hard.
  • Young and small: launched in January 2025, and it sits among the smaller, less heavily traded names on the leveraged shelf, which can widen spreads.
  • 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 TSMG profile⁠

Full UNHG profile⁠

TSMG 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.

TSMG vs UNHG Cost

Overpaying UNHG vs TSMG

$173

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

  • TSMG 0.76%

    $14,656

  • UNHG 0.77%

    $14,829

$10,000
30 years

Cost over time

  • TSMG 0.76%
  • 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 $14,829TSMG $14,656

Year by year

YearTSMGUNHGOverpaying
10$1,353$1,371$18
20$5,142$5,205$63
30$14,656$14,829$173

Expense ratio

  • 0.76%TSMG, cheaper
  • 0.77%UNHG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

UNHG 135th cheapest of 315 funds

TSMG vs UNHG Dividends

Last 12 months to Oct 30, 2026
Last payment
TSMG $2.73
UNHG $1.90
Ex-dividend
TSMG Dec 30, 2025
UNHG Dec 30, 2025
Paid on
TSMG Jan 2, 2026
UNHG Jan 2, 2026
Frequency
TSMG Irregular
UNHG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

TSMGIrregular · 1 paymentAll TSMG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $2.73. Use the arrow keys to read each point.$0$2.502026YTD
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$2.502026YTD

TSMG vs UNHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TSMG 77.9%since Feb 2025UNHG 98.1%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
TSMG 0.97since Feb 2025UNHG 0.90since Aug 2025
Worst fallMax drawdown, 5 years
TSMG −63.7%since Jan 2025UNHG −57.1%since Jul 2025
Market sensitivityBeta, 5 years
TSMG 3.81UNHG 5.53

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