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UNHG vs USAX

Leverage Shares 2x Long UNH Daily ETF

UNHGANasdaq

Tradr 2X Long USAR Daily ETF

USAXDCboe

Overlap

Expense ratio

UNHG −0.72pt a year

UNHG0.77%USAX1.49%

Avg volume · 30D

UNHG 4.9×the volume

UNHG726KUSAX149K

UNHG vs USAX Performance

Jul 31, 2026 – Nov 2, 2026

−11.0%UNHG−71.4%USAX

Jul 31, 2026 to Nov 2, 2026. UNHG −11.0%. USAX −71.4%. Use the arrow keys to read each point.−50%25%50%75%Jul 2026Sep 2026Nov 2026
Expense ratio
UNHG 0.77%, better
USAX 1.49%
Fund size
UNHG $63M
USAX $5M
1Y total return
UNHG +8.4%
USAX No data
Holdings
UNHG 5
USAX 1
Avg volume (30D)
UNHG 726K sh, better
USAX 149K sh
NAV per share
UNHG $20.57
USAX $2.44
52W range

ETF.net Grade

UNHG: Cost 60, Risk 83, Mission 90, Tradability 90, Holdings not scored, Durability 66. USAX: Cost 11, Risk 29, Mission 92, Tradability 47, Holdings not scored, Durability 51.
Pillar letters and Scores for UNHG, USAX, with each pillar’s weight
PillarUNHGUSAX
Cost30% weightB60HigherF11
Mission25% weightA90A92Higher
Risk15% weightA83HigherD29
Tradability15% weightA90HigherC47
Holdings10% weightNot scoredNot scored
Durability5% weightB66HigherC51

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. UNHG and USAX 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 USAX 291st 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 291DRIOXDaily Target 2X Long RIOT ETFScore 26
  5. Rank 291DUSAXTradr 2X Long USAR Daily ETFScore 26
  6. Rank 295DCIFUT-REX 2X Long CIFR Daily Target ETFScore 25

Our read on each fund

ETF.net Research

UNHGALeverage Shares 2x Long UNH Daily ETF

USAXDTradr 2X Long USAR Daily ETF

In short

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%.

USAX Two times the daily move of USA Rare Earth (USAR) in a single ticker. It resets every day, so it is built for one trading session, not for holding the rare earth story long term.

Stated mandate

UNHG The fund seeks daily investment results equal to twice the daily performance of UnitedHealth Group Incorporated stock, before fees and expenses.

USAX The Fund seeks daily results equal to twice the daily performance of USA Rare Earth, Inc. common shares, before fees and expenses. It is intended for a holding period of one trading day.

Why people hold it

  • 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
  • USAX One ticker gets you 2x daily exposure to a single stock, no margin account or options approval involved.tradretfs.com
  • It has tracked its stated two-times daily target closely, which is the whole job of a daily leveraged fund.
  • Rare exposure: no other fund in its leveraged single-stock peer set is built on USA Rare Earth shares.

Worth knowing

  • 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.
  • USAX At 1.49% a year, it costs more than established 2x single-stock funds like GGLL (0.96%) or AMDG (0.75%).
  • Daily reset math: hold past one session and compounding can push results well away from 2x the stock's move over that stretch.
  • A small, young fund (launched 2026) with moderate trading, so spreads can be wider than the giants of the category.

Full UNHG profile⁠

Full USAX profile⁠

UNHG vs USAX 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.

UNHG vs USAX Cost

Overpaying USAX vs UNHG

$11,312

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

  • UNHG 0.77%

    $14,829

  • USAX 1.49%

    $26,141

$10,000
30 years

Cost over time

  • UNHG 0.77%
  • USAX 1.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530USAX $26,141UNHG $14,829

Year by year

YearUNHGUSAXOverpaying
10$1,371$2,574$1,203
20$5,205$9,464$4,259
30$14,829$26,141$11,312

Expense ratio

  • 0.77%UNHG, cheaper
  • 1.49%USAX
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

UNHG 135th cheapest of 315 funds

USAX 263rd cheapest of 315 funds

UNHG vs USAX Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

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
USAXAll USAX payments⁠

No distribution history available.

UNHG vs USAX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
UNHG 98.1%since Aug 2025USAX No data
Return per unit of riskSharpe ratio, 3 years
UNHG 0.90since Aug 2025USAX No data
Worst fallMax drawdown, 5 years
UNHG −57.1%since Jul 2025USAX No data
Market sensitivityBeta, 5 years
UNHG 5.19USAX 0.00

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