LUNL vs. USGG

Last updated Jun 4, 2026

LUNL (Defiance Daily Target 2X Long LUNR ETF) and USGG (Leverage Shares 2X Long USAR Daily ETF) are both Leveraged Equities funds - LUNL tracks the Intuitive Machines, Inc. (LUNR) while USGG tracks the USA Rare Earth, Inc. (USAR). Both are passively managed. At a 0.44 correlation, their price movements are largely independent. LUNL charges 1.31%/yr vs 0.75%/yr for USGG.

Performance

LUNL vs. USGG - Performance Comparison

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

Returns By Period

LUNL

• 1D: -29.16%
• 1M: 44.32%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USGG

• 1D: -17.96%
• 1M: 7.54%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LUNL vs. USGG - Yearly Performance Comparison

	2026 (YTD)
LUNL Defiance Daily Target 2X Long LUNR ETF	70.39%
USGG Leverage Shares 2X Long USAR Daily ETF	64.11%

Correlation

The correlation between LUNL and USGG is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.44

Return for Risk

LUNL vs. USGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long LUNR ETF (LUNL) and Leverage Shares 2X Long USAR Daily ETF (USGG). 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.

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

Sharpe Ratios by Period

	LUNL	USGG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	1.17	-0.01

Drawdowns

LUNL vs. USGG - Drawdown Comparison

The maximum LUNL drawdown since its inception was -64.22%, smaller than the maximum USGG drawdown of -77.74%. Use the drawdown chart below to compare losses from any high point for LUNL and USGG.

Drawdown Indicators

	LUNL	USGG	Difference
Max Drawdown Largest peak-to-trough decline	-64.22%	-77.74%	+13.52%
Current Drawdown Current decline from peak	-48.02%	-32.40%	-15.62%
Average Drawdown Average peak-to-trough decline	-32.14%	-46.06%	+13.92%

Volatility

Volatility by Period

	LUNL	USGG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	258.78%	225.33%	+33.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	258.78%	225.33%	+33.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	258.78%	225.33%	+33.45%

LUNL vs. USGG - Expense Ratio Comparison

LUNL has a 1.31% expense ratio, which is higher than USGG's 0.75% expense ratio.

Dividends

LUNL vs. USGG - Dividend Comparison

Neither LUNL nor USGG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LUNL and USGG in my portfolio?

LUNL and USGG have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LUNL or USGG?

On fees, USGG 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, LUNL or USGG?

USGG is cheaper with a 0.75% expense ratio, compared with 1.31% for LUNL.

Which ETF pays a higher dividend yield, LUNL or USGG?

LUNL and USGG have nearly identical dividend yields, around 0.00%.

What is the main difference between LUNL and USGG?

LUNL tracks Intuitive Machines, Inc. (LUNR), while USGG tracks USA Rare Earth, Inc. (USAR). They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.31% for LUNL and 0.75% for USGG.