UBRL vs. NEMG

Last updated Jun 24, 2026

UBRL (GraniteShares 2x Long UBER Daily ETF) and NEMG (Leverage Shares 2x Long NEM Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.03 correlation, their price movements are largely independent. UBRL charges 1.15%/yr vs 0.75%/yr for NEMG.

Performance

UBRL vs. NEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long UBER Daily ETF (UBRL) and Leverage Shares 2x Long NEM Daily ETF (NEMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UBRL achieves a -33.50% return, which is significantly lower than NEMG's -20.44% return.

UBRL

• 1D: -4.91%
• 1M: -7.71%
• YTD: -33.50%
• 6M: -32.37%
• 1Y: -44.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NEMG

• 1D: -7.98%
• 1M: -20.02%
• YTD: -20.44%
• 6M: -28.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UBRL vs. NEMG - Yearly Performance Comparison

	2026 (YTD)	2025
UBRL GraniteShares 2x Long UBER Daily ETF	-33.50%	-22.40%
NEMG Leverage Shares 2x Long NEM Daily ETF	-20.44%	22.87%

Correlation

The correlation between UBRL and NEMG is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.03

Return for Risk

UBRL vs. NEMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UBRL

UBRL Risk / Return Rank: 3
UBRL Sharpe Ratio Rank: 4
UBRL Sortino Ratio Rank: 4
UBRL Omega Ratio Rank: 4
UBRL Calmar Ratio Rank: 2
UBRL Martin Ratio Rank: 3

NEMG

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UBRL vs. NEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long UBER Daily ETF (UBRL) and Leverage Shares 2x Long NEM Daily ETF (NEMG). 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.

	UBRL	NEMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	—	—
Sortino ratio: Return per unit of downside risk	-0.81	—	—
Omega ratio: Gain probability vs. loss probability	0.91	—	—
Calmar ratio: Return relative to maximum drawdown	-0.76	—	—
Martin ratio: Return relative to average drawdown	-1.25	—	—

Drawdowns

UBRL vs. NEMG - Drawdown Comparison

The maximum UBRL drawdown since its inception was -58.45%, roughly equal to the maximum NEMG drawdown of -57.56%. Use the drawdown chart below to compare losses from any high point for UBRL and NEMG.

Drawdown Indicators

	UBRL	NEMG	Difference
Max Drawdown Largest peak-to-trough decline	-58.45%	-57.56%	-0.89%
Max Drawdown (1Y) Largest decline over 1 year	-58.45%	—	—
Current Drawdown Current decline from peak	-57.57%	-53.44%	-4.13%
Average Drawdown Average peak-to-trough decline	-29.07%	-23.21%	-5.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.60%	—	—

Volatility

Volatility by Period

	UBRL	NEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	47.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	66.32%	102.63%	-36.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.77%	102.63%	-26.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.77%	102.63%	-26.86%

UBRL vs. NEMG - Expense Ratio Comparison

UBRL has a 1.15% expense ratio, which is higher than NEMG's 0.75% expense ratio.

Dividends

UBRL vs. NEMG - Dividend Comparison

UBRL's dividend yield for the trailing twelve months is around 15.70%, while NEMG has not paid dividends to shareholders.

Position	TTM	2025
NEMG Leverage Shares 2x Long NEM Daily ETF	0.00%	0.00%
UBRL GraniteShares 2x Long UBER Daily ETF	15.70%	10.44%

Frequently Asked Questions

Can I hold both UBRL and NEMG in my portfolio?

UBRL and NEMG have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UBRL or NEMG?

On fees, NEMG 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, UBRL or NEMG?

NEMG is cheaper with a 0.75% expense ratio, compared with 1.15% for UBRL.

Which ETF pays a higher dividend yield, UBRL or NEMG?

UBRL has the higher dividend yield at 15.70%, compared with 0.00% for NEMG.

What is the main difference between UBRL and NEMG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.15% for UBRL and 0.75% for NEMG.