USAX vs. BOEG

Last updated Jun 23, 2026

USAX (Tradr 2X Long USAR Daily ETF) and BOEG (Leverage Shares 2X Long BA Daily ETF) are both Leveraged Equities funds. USAX is passively managed, while BOEG is actively managed. At a 0.27 correlation, their price movements are largely independent. USAX charges 1.49%/yr vs 0.75%/yr for BOEG.

Performance

USAX vs. BOEG - Performance Comparison

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

Returns By Period

USAX

• 1D: -4.34%
• 1M: -18.76%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BOEG

• 1D: -2.30%
• 1M: -0.32%
• YTD: -7.07%
• 6M: -7.05%
• 1Y: -0.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USAX vs. BOEG - Yearly Performance Comparison

	2026 (YTD)
USAX Tradr 2X Long USAR Daily ETF	-10.11%
BOEG Leverage Shares 2X Long BA Daily ETF	-23.11%

Correlation

The correlation between USAX and BOEG is 0.27, 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 13, 2026	0.27

Return for Risk

USAX vs. BOEG — Risk / Return Rank

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

USAX

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

BOEG

BOEG Risk / Return Rank: 10
BOEG Sharpe Ratio Rank: 9
BOEG Sortino Ratio Rank: 11
BOEG Omega Ratio Rank: 11
BOEG Calmar Ratio Rank: 8
BOEG Martin Ratio Rank: 8

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.

USAX vs. BOEG - Risk-Adjusted Trends Comparison

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

	USAX	BOEG	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.01	—
Sortino ratio: Return per unit of downside risk	—	0.47	—
Omega ratio: Gain probability vs. loss probability	—	1.05	—
Calmar ratio: Return relative to maximum drawdown	—	-0.01	—
Martin ratio: Return relative to average drawdown	—	-0.02	—

Drawdowns

USAX vs. BOEG - Drawdown Comparison

The maximum USAX drawdown since its inception was -77.92%, which is greater than BOEG's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for USAX and BOEG.

Drawdown Indicators

	USAX	BOEG	Difference
Max Drawdown Largest peak-to-trough decline	-77.92%	-46.47%	-31.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-46.47%	—
Current Drawdown Current decline from peak	-53.33%	-30.23%	-23.10%
Average Drawdown Average peak-to-trough decline	-46.89%	-19.52%	-27.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	23.39%	—

Volatility

Volatility by Period

	USAX	BOEG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	21.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	47.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	225.87%	64.38%	+161.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	225.87%	64.07%	+161.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	225.87%	64.07%	+161.80%

USAX vs. BOEG - Expense Ratio Comparison

USAX has a 1.49% expense ratio, which is higher than BOEG's 0.75% expense ratio.

Dividends

USAX vs. BOEG - Dividend Comparison

Neither USAX nor BOEG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both USAX and BOEG in my portfolio?

USAX and BOEG have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USAX or BOEG?

On fees, BOEG 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, USAX or BOEG?

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

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

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

What is the main difference between USAX and BOEG?

They also come from different issuers: Tradr and Leverage Shares. Their fees differ too: 1.49% for USAX and 0.75% for BOEG.