NIOG vs. UNHW

Last updated Jun 4, 2026

NIOG (Leverage Shares 2X Long NIO Daily ETF) and UNHW (Roundhill UNH WeeklyPay ETF) are both Leveraged Equities funds. NIOG is passively managed, while UNHW is actively managed. At a 0.11 correlation, their price movements are largely independent. NIOG charges 0.75%/yr vs 0.99%/yr for UNHW.

Performance

NIOG vs. UNHW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long NIO Daily ETF (NIOG) and Roundhill UNH WeeklyPay ETF (UNHW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NIOG achieves a 5.09% return, which is significantly lower than UNHW's 15.08% return.

NIOG

• 1D: -8.37%
• 1M: -14.00%
• YTD: 5.09%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UNHW

• 1D: 0.06%
• 1M: 2.06%
• YTD: 15.08%
• 6M: 11.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NIOG vs. UNHW - Yearly Performance Comparison

	2026 (YTD)	2025
NIOG Leverage Shares 2X Long NIO Daily ETF	5.09%	5.33%
UNHW Roundhill UNH WeeklyPay ETF	15.08%	0.66%

Correlation

The correlation between NIOG and UNHW is 0.11, 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 Dec 19, 2025	0.11

Return for Risk

NIOG vs. UNHW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long NIO Daily ETF (NIOG) and Roundhill UNH WeeklyPay ETF (UNHW). 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

	NIOG	UNHW	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.50	-0.29

Drawdowns

NIOG vs. UNHW - Drawdown Comparison

The maximum NIOG drawdown since its inception was -45.19%, which is greater than UNHW's maximum drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for NIOG and UNHW.

Drawdown Indicators

	NIOG	UNHW	Difference
Max Drawdown Largest peak-to-trough decline	-45.19%	-32.28%	-12.91%
Current Drawdown Current decline from peak	-34.15%	-7.06%	-27.09%
Average Drawdown Average peak-to-trough decline	-19.65%	-12.48%	-7.17%

Volatility

Volatility by Period

	NIOG	UNHW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	120.05%	49.81%	+70.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	120.05%	49.81%	+70.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.05%	49.81%	+70.24%

NIOG vs. UNHW - Expense Ratio Comparison

NIOG has a 0.75% expense ratio, which is lower than UNHW's 0.99% expense ratio.

Dividends

NIOG vs. UNHW - Dividend Comparison

NIOG has not paid dividends to shareholders, while UNHW's dividend yield for the trailing twelve months is around 17.33%.

Position	TTM	2025
NIOG Leverage Shares 2X Long NIO Daily ETF	0.00%	0.00%
UNHW Roundhill UNH WeeklyPay ETF	17.33%	2.81%

Frequently Asked Questions

Can I hold both NIOG and UNHW in my portfolio?

NIOG and UNHW have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NIOG or UNHW?

On fees, NIOG 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, NIOG or UNHW?

NIOG is cheaper with a 0.75% expense ratio, compared with 0.99% for UNHW.

Which ETF pays a higher dividend yield, NIOG or UNHW?

UNHW has the higher dividend yield at 17.33%, compared with 0.00% for NIOG.

What is the main difference between NIOG and UNHW?

They also come from different issuers: Leverage Shares and Roundhill Investments. Their fees differ too: 0.75% for NIOG and 0.99% for UNHW.