HUTG vs. SMUP

Last updated Jun 24, 2026

HUTG (Leverage Shares 2X Long HUT Daily ETF) and SMUP (T-REX 2X Long SMR Daily Target ETF) are both Leveraged Equities funds. HUTG is passively managed, while SMUP is actively managed. A 0.64 correlation means they provide meaningful diversification when combined. HUTG charges 0.75%/yr vs 1.50%/yr for SMUP.

Performance

HUTG vs. SMUP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long HUT Daily ETF (HUTG) and T-REX 2X Long SMR Daily Target ETF (SMUP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HUTG

• 1D: -1.86%
• 1M: 20.04%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMUP

• 1D: -6.94%
• 1M: -18.02%
• YTD: -66.64%
• 6M: -74.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HUTG vs. SMUP - Yearly Performance Comparison

	2026 (YTD)
HUTG Leverage Shares 2X Long HUT Daily ETF	114.72%
SMUP T-REX 2X Long SMR Daily Target ETF	-81.91%

Correlation

The correlation between HUTG and SMUP is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.64

Return for Risk

HUTG vs. SMUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long HUT Daily ETF (HUTG) and T-REX 2X Long SMR Daily Target ETF (SMUP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

HUTG vs. SMUP - Drawdown Comparison

The maximum HUTG drawdown since its inception was -66.30%, smaller than the maximum SMUP drawdown of -98.91%. Use the drawdown chart below to compare losses from any high point for HUTG and SMUP.

Drawdown Indicators

	HUTG	SMUP	Difference
Max Drawdown Largest peak-to-trough decline	-66.30%	-98.91%	+32.61%
Current Drawdown Current decline from peak	-23.12%	-98.57%	+75.45%
Average Drawdown Average peak-to-trough decline	-26.46%	-79.92%	+53.46%

Volatility

Volatility by Period

	HUTG	SMUP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	215.34%	204.07%	+11.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	215.34%	204.07%	+11.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	215.34%	204.07%	+11.27%

HUTG vs. SMUP - Expense Ratio Comparison

HUTG has a 0.75% expense ratio, which is lower than SMUP's 1.50% expense ratio.

Dividends

HUTG vs. SMUP - Dividend Comparison

HUTG has not paid dividends to shareholders, while SMUP's dividend yield for the trailing twelve months is around 67.72%.

Position	TTM	2025
HUTG Leverage Shares 2X Long HUT Daily ETF	0.00%	0.00%
SMUP T-REX 2X Long SMR Daily Target ETF	67.72%	22.59%

Frequently Asked Questions

Can I hold both HUTG and SMUP in my portfolio?

HUTG and SMUP have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HUTG or SMUP?

On fees, HUTG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HUTG or SMUP?

HUTG is cheaper with a 0.75% expense ratio, compared with 1.50% for SMUP.

Which ETF pays a higher dividend yield, HUTG or SMUP?

SMUP has the higher dividend yield at 67.72%, compared with 0.00% for HUTG.

What is the main difference between HUTG and SMUP?

They also come from different issuers: Leverage Shares and T-Rex. Their fees differ too: 0.75% for HUTG and 1.50% for SMUP.