HUTG vs. USAX

Last updated Aug 1, 2026

HUTG (Leverage Shares 2X Long HUT Daily ETF) and USAX (Tradr 2X Long USAR Daily ETF) are both Leveraged Equities funds - HUTG tracks the Hut 8 Corp. (HUT) while USAX tracks the USA Rare Earth, Inc. (USAR). Both are passively managed. Their 0.54 correlation means they have sometimes moved together and sometimes differently. HUTG charges 0.75%/yr vs 1.49%/yr for USAX.

Performance

HUTG vs. USAX - Performance Comparison

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

Returns By Period

HUTG

• 1D: -1.07%
• 1M: 7.07%
• 6M: 90.12%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

USAX

• 1D: 4.61%
• 1M: -43.31%
• 6M: -76.33%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HUTG Leverage Shares 2X Long HUT Daily ETF	$2.52M	$1.92M	$2.12M
USAX Tradr 2X Long USAR Daily ETF	$757.62K	$934.11K	$3.07M

HUTG vs. USAX - Yearly Performance Comparison

	2026 (YTD)
HUTG Leverage Shares 2X Long HUT Daily ETF	46.51%
USAX Tradr 2X Long USAR Daily ETF	-68.67%

Correlation

The correlation between HUTG and USAX is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.54

Return for Risk

HUTG vs. USAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long HUT Daily ETF (HUTG) and Tradr 2X Long USAR Daily ETF (USAX). 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. USAX - Drawdown Comparison

The maximum HUTG drawdown since its inception was -66.30%, smaller than the maximum USAX drawdown of -87.42%. Use the drawdown chart below to compare losses from any high point for HUTG and USAX.

Drawdown Indicators

	HUTG	USAX	Difference
Max Drawdown Largest peak-to-trough decline	-66.30%	-87.42%	+21.12%
Current Drawdown Current decline from peak	-47.54%	-83.73%	+36.19%
Average Drawdown Average peak-to-trough decline	-29.83%	-52.72%	+22.89%

Volatility

Volatility by Period

	HUTG	USAX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	220.42%	215.51%	+4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	220.42%	215.51%	+4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	220.42%	215.51%	+4.91%

HUTG vs. USAX - Expense Ratio Comparison

HUTG has a 0.75% expense ratio, which is lower than USAX's 1.49% expense ratio.

Dividends

HUTG vs. USAX - Dividend Comparison

Neither HUTG nor USAX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HUTG and USAX in my portfolio?

HUTG and USAX have a correlation of 0.54, 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 USAX?

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 USAX?

HUTG is cheaper with a 0.75% expense ratio, compared with 1.49% for USAX.

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

HUTG and USAX have nearly identical dividend yields, around 0.00%.

What is the main difference between HUTG and USAX?

HUTG tracks Hut 8 Corp. (HUT), while USAX tracks USA Rare Earth, Inc. (USAR). They also come from different issuers: Leverage Shares and Tradr. Their fees differ too: 0.75% for HUTG and 1.49% for USAX.