{"url":"https://etfiq.com/compare/leverage/tsmg-vs-tsmz","section":"compare","title":"TSMG vs TSMZ: which held to its multiple? | ETFIQ","description":"TSMG sets out to return +2 times TSM each day and TSMZ -1 times. Over the three months to Sep 30, 2026 they finished \u22126.4 pts and \u22121.2 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, TSMG or TSMZ?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, TSMG finished 6.4 points from what its multiple implies and TSMZ finished 1.2 points from its own, so TSMZ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are TSMG and TSMZ levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Taiwan Semiconductor Manufacturing, TSMG at +2 times and TSMZ at -1 times the daily move."}},{"@type":"Question","name":"Which one decays faster, TSMG or TSMZ?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window TSMG\u2019s moved at 34% annualized and TSMZ\u2019s at 34%, so TSMG has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold TSMG or TSMZ for a year?","acceptedAnswer":{"@type":"Answer","text":"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\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, TSMG or TSMZ?","acceptedAnswer":{"@type":"Answer","text":"TSMG charges 0.76% a year and TSMZ charges 1.01%, so TSMG is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"TSMG vs TSMZ","item":"https://etfiq.com/compare/leverage/tsmg-vs-tsmz"}]},{"@type":"WebPage","name":"TSMG vs TSMZ: which held to its multiple?","description":"TSMG sets out to return +2 times TSM each day and TSMZ -1 times. Over the three months to Sep 30, 2026 they finished \u22126.4 pts and \u22121.2 pts away.","url":"https://etfiq.com/compare/leverage/tsmg-vs-tsmz","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, TSMG finished 3.5 points short and TSMZ 1.5 points over.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of TSMG and TSMZ","description":"TSMG sets out to return +2 times TSM each day and TSMZ -1 times. Over the three months to Sep 30, 2026 they finished \u22126.4 pts and \u22121.2 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/tsmg-vs-tsmz","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":7203,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / TSMG vs TSMZ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n TSMG vs TSMZ: which held to its multiple?\n\n Over three months against its own daily promise, TSMG finished 3.5 points short and TSMZ 1.5 points over.\n Copy this for sharing \n \n Leverage Shares 2X Long TSM Daily ETF and Direxion Daily TSM Bear 1X ETF.\n\n Download as PDF \n\n \u22120.5% TSMG returned, 3 months \n \u22124.2% TSMZ returned, 3 months \n \u22126.4 pts TSMG from its stated multiple \n \u22121.2 pts TSMZ from its stated multiple \n\n ETFIQ Decay Resistance Score: TSMZ scores higher\n Did it","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/tsmg-vs-tsmz","a":{"ticker":"TSMG","name":"Leverage Shares 2X Long TSM Daily ETF","issuer":"Leverage Shares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: TSMG returned \u22120.5% where its own daily promise gave +3.0%, 3.5 points short.","url":"https://etfiq.com/funds/tsmg","key_facts":[{"label":"What TSM did","value":"+3.0%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+3.0%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u22120.5%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22123.5 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$31m","as_of":"2026-09-30","source":"SEC N-PORT, whole fund, as filed for Jul 31, 2026"},{"label":"Expense ratio","value":"0.76%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 27, 2026"}]},"b":{"ticker":"TSMZ","name":"Direxion Daily TSM Bear 1X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: TSMZ returned \u22124.2% where its own daily promise gave \u22125.7%, 1.5 points over.","url":"https://etfiq.com/funds/tsmz","key_facts":[{"label":"What TSM did","value":"+3.0%","as_of":"2026-09-30","source":null},{"label":"What \u22121 times a day gives","value":"\u22125.7%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u22124.2%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.5 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$3m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.01%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/tsmg-vs-tsmz"}