Data as of .
TSMG vs TSMX: which held to its multiple?
Over the days both have traded, TSMG finished 1.7 points from its stated multiple and TSMX 1.4.
ETFIQ Decay Resistance Score: TSMG scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| TSMG | TSMX | TSMG | TSMX | TSMG | TSMX | |
| 1 month | +0.2% | +0.5% | +1.9% | +1.9% | −1.7 pts | −1.4 pts |
| 3 months | −3.2% | −3.2% | +4.4% | +4.4% | −7.6 pts | −7.6 pts |
| 6 months | +41.6% | +42.5% | +57.4% | +57.4% | −15.8 pts | −15.0 pts |
| 1 year | +116.2% | +117.6% | +138.3% | +138.3% | −22.1 pts | −20.7 pts |
| Since launch | +194.2% | +247.4% | not meaningful | not meaningful | not meaningful | not meaningful |
| TSMG Leverage Shares 2X Long TSM Daily ETF Aims to return twice the daily move of TSM | TSMX Direxion Daily TSM Bull 2X ETF Aims to return twice the daily move of TSM | |
|---|---|---|
| Issuer | Leverage Shares | Direxion |
| Sets out to return | +2x | +2x |
| On | TSM | TSM |
| Segment | company | company |
| Fund returned, 3 months | −3.2% | −3.2% |
| Underlying returned, 3 months | +2.2% | +2.2% |
| What the stated multiple implies, 3 months | +4.4% | +4.4% |
| Difference from stated, 3 months | −7.6 pts | −7.6 pts |
| Fund returned, 1 year or since launch | +116.2% | +117.6% |
| Difference from stated, over that window | −22.1 pts | −20.7 pts |
| Underlying volatility | 45% | 45% |
| Difference over the days both have traded | −1.7 pts | −1.4 pts |
| Expense ratio | 0.76% | 0.99% |
| Launched | Jan 14, 2025 | Oct 3, 2024 |
TSMG in plain words
Three months to Sep 11, 2026: TSMG returned −3.2% where its own daily promise gave −0.5%, 2.6 points short. Read the multiple against the whole window instead and +2 times TSM's 2.2% implies +4.4%, which makes TSMG look 7.6 points short. 4.9 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. TSMG aims to return +2 times TSM's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. TSM moved at 45% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
TSMX in plain words
Three months to Sep 11, 2026: TSMX returned −3.2% where its own daily promise gave −0.5%, 2.7 points short. Read the multiple against the whole window instead and +2 times TSM's 2.2% implies +4.4%, which makes TSMX look 7.6 points short. TSMX aims to return +2 times TSM's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, TSMG or TSMX?
- Over the window to Sep 11, 2026, TSMG finished 7.6 points from what its multiple implies and TSMX finished 7.6 points from its own, so TSMG came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are TSMG and TSMX levered on the same thing?
- Yes. Both are levered on TSM, TSMG at +2 times and TSMX at +2 times the daily move.
- Which one decays faster, TSMG or TSMX?
- Decay follows how much the underlying moves about. Over this window TSMG’s moved at 45% annualized and TSMX’s at 45%, so TSMG has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold TSMG or TSMX for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, TSMG or TSMX?
- TSMG charges 0.76% a year and TSMX charges 0.99%, so TSMG is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, TSMG against TSMX, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/TSMG-TSMX Free to use with attribution; the underlying files are at Open data.