USAX vs. USGG

Last updated Jun 24, 2026

USAX (Tradr 2X Long USAR Daily ETF) and USGG (Leverage Shares 2X Long USAR Daily ETF) are both Leveraged Equities funds tracking the USA Rare Earth, Inc. (USAR), from Tradr and Leverage Shares respectively. Both are passively managed. With a 0.99 correlation, they move nearly in lockstep. USAX charges 1.49%/yr vs 0.75%/yr for USGG.

Performance

USAX vs. USGG - 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 USAR Daily ETF (USGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USAX

• 1D: -10.51%
• 1M: -27.30%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USGG

• 1D: -10.14%
• 1M: -27.15%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USAX vs. USGG - Yearly Performance Comparison

	2026 (YTD)
USAX Tradr 2X Long USAR Daily ETF	-19.55%
USGG Leverage Shares 2X Long USAR Daily ETF	-5.41%

Correlation

The correlation between USAX and USGG is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.99

Return for Risk

USAX vs. USGG - 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 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.

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

USAX vs. USGG - Drawdown Comparison

The maximum USAX drawdown since its inception was -77.92%, roughly equal to the maximum USGG drawdown of -77.74%. Use the drawdown chart below to compare losses from any high point for USAX and USGG.

Drawdown Indicators

	USAX	USGG	Difference
Max Drawdown Largest peak-to-trough decline	-77.92%	-77.74%	-0.18%
Current Drawdown Current decline from peak	-58.23%	-58.39%	+0.16%
Average Drawdown Average peak-to-trough decline	-47.00%	-47.00%	0.00%

Volatility

Volatility by Period

	USAX	USGG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	225.50%	224.62%	+0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	225.50%	224.62%	+0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	225.50%	224.62%	+0.88%

USAX vs. USGG - Expense Ratio Comparison

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

Dividends

USAX vs. USGG - Dividend Comparison

Neither USAX nor USGG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both USAX and USGG in my portfolio?

With a correlation of 0.99, USAX and USGG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, USAX 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, USAX or USGG?

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

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

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

What is the main difference between USAX and USGG?

Both ETFs track USA Rare Earth, Inc. (USAR). They also come from different issuers: Tradr and Leverage Shares. Their fees differ too: 1.49% for USAX and 0.75% for USGG.