# TSMG (Leverage Shares 2X Long TSM Daily ETF)

Leverage Shares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: TSMG returned −0.5% where its own daily promise gave +3.0%, 3.5 points short.

## Key facts

- TSMG, what TSM did: +3.0%, as of Sep 30, 2026.
- TSMG, what 2 times a day gives: +3.0%, as of Sep 30, 2026.
- TSMG, what the fund returned: −0.5%, as of Sep 30, 2026.
- TSMG, the fund itself cost: −3.5 pts, as of Sep 30, 2026.
- TSMG, net assets: $31m (SEC N-PORT, whole fund, as filed for Jul 31, 2026).
- TSMG, expense ratio: 0.76% (485BPOS XBRL, Feb 27, 2026).

## TSMG over each window to Sep 30, 2026

| Window | Fund | TSM | +2x the move | Difference | TSM moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +19.1% | +10.1% | +20.3% | −1.1 pts | 25% |
| 3 months | −0.5% | +3.0% | +5.9% | −6.4 pts | 34% |
| 6 months | +54.8% | +34.3% | +68.5% | −13.7 pts | 42% |
| 1 year | +106.5% | +65.0% | +130.1% | −23.6 pts | 40% |
| Since launch | +224.5% | +131.2% | not meaningful over this window | not meaningful over this window | 41% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of TSM, reset daily | ETFIQ |
| Multiple a holder actually got over the window | TSM moved +3.0% over this window, too little to read a multiple from | ETFIQ |
| Underlying | TSM | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $31m | SEC N-PORT, whole fund, as filed for Jul 31, 2026 |
| Expense ratio | 0.76% | 485BPOS XBRL, Feb 27, 2026 |
| Launched | Jan 14, 2025 | ETFIQ |
| Underlying volatility over the window | 34% annualized | ETFIQ |

## Questions

### Did TSMG return +2 times TSM?

Over the window to Sep 30, 2026, TSM moved +3.0% and TSMG returned −0.5%. 2 times that move is +5.9%, so the fund came out 6.4 points short of it.

### Why does TSMG not return +2 times over a year?

Because it resets daily. TSMG aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x TSM ETF tracked its stated multiple most closely?

4 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the figure itself.


## Cite this page

ETFIQ, TSMG, data as of Sep 30, 2026. https://etfiq.com/funds/tsmg
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/tsmg  ·  JSON: https://etfiq.com/funds/tsmg.json