AALG vs. ASMG

Last updated Jul 17, 2026

AALG (Leverage Shares 2X Long AAL Daily ETF) and ASMG (Leverage Shares 2X Long ASML Daily ETF) are both Leveraged Equities funds from Leverage Shares. Both are actively managed. Over the past year, AALG returned 14.54% vs 310.91% for ASMG. At a 0.28 correlation, their price movements are largely independent. AALG charges 0.78%/yr vs 0.75%/yr for ASMG.

Performance

AALG vs. ASMG - Performance Comparison

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

Returns By Period

In the year-to-date period, AALG achieves a -14.63% return, which is significantly lower than ASMG's 126.91% return.

AALG

• 1D: -0.42%
• 1M: -3.68%
• 6M: -17.57%
• YTD: -14.63%
• 1Y: 14.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASMG

• 1D: -4.38%
• 1M: -6.55%
• 6M: 50.06%
• YTD: 126.91%
• 1Y: 310.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AALG vs. ASMG - Yearly Performance Comparison

	2026 (YTD)	2025
AALG Leverage Shares 2X Long AAL Daily ETF	-14.63%	29.58%
ASMG Leverage Shares 2X Long ASML Daily ETF	126.91%	57.88%

Correlation

The correlation between AALG and ASMG is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jul 11, 2025	0.28

Return for Risk

AALG vs. ASMG — Risk / Return Rank

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

AALG

AALG Risk / Return Rank: 15
AALG Sharpe Ratio Rank: 12
AALG Sortino Ratio Rank: 21
AALG Omega Ratio Rank: 19
AALG Calmar Ratio Rank: 12
AALG Martin Ratio Rank: 12

ASMG

ASMG Risk / Return Rank: 92
ASMG Sharpe Ratio Rank: 97
ASMG Sortino Ratio Rank: 87
ASMG Omega Ratio Rank: 82
ASMG Calmar Ratio Rank: 97
ASMG Martin Ratio Rank: 96

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.

AALG vs. ASMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long AAL Daily ETF (AALG) and Leverage Shares 2X Long ASML Daily ETF (ASMG). 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.

	AALG	ASMG	Difference
Sharpe ratio: Return per unit of total volatility	0.15	3.48	-3.33
Sortino ratio: Return per unit of downside risk	0.95	3.22	-2.28
Omega ratio: Gain probability vs. loss probability	1.11	1.39	-0.28
Calmar ratio: Return relative to maximum drawdown	0.23	9.06	-8.84
Martin ratio: Return relative to average drawdown	0.47	26.10	-25.64

AALG vs. ASMG - Sharpe Ratio Comparison

The current AALG Sharpe Ratio is 0.15, which is lower than the ASMG Sharpe Ratio of 3.48. The chart below compares the historical Sharpe Ratios of AALG and ASMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AALG vs. ASMG - Drawdown Comparison

The maximum AALG drawdown since its inception was -64.19%, which is greater than ASMG's maximum drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for AALG and ASMG.

Drawdown Indicators

	AALG	ASMG	Difference
Max Drawdown Largest peak-to-trough decline	-64.19%	-43.95%	-20.24%
Max Drawdown (1Y) Largest decline over 1 year	-64.19%	-34.56%	-29.63%
Current Drawdown Current decline from peak	-27.08%	-21.39%	-5.69%
Average Drawdown Average peak-to-trough decline	-24.63%	-13.09%	-11.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.31%	12.11%	+19.20%

Volatility

AALG vs. ASMG - Volatility Comparison

The current volatility for Leverage Shares 2X Long AAL Daily ETF (AALG) is 25.61%, while Leverage Shares 2X Long ASML Daily ETF (ASMG) has a volatility of 37.83%. This indicates that AALG experiences smaller price fluctuations and is considered to be less risky than ASMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AALG	ASMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.61%	37.83%	-12.22%
Volatility (6M) Calculated over the trailing 6-month period	72.09%	73.15%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	96.14%	91.70%	+4.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.75%	89.23%	+6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.75%	89.23%	+6.52%

AALG vs. ASMG - Expense Ratio Comparison

AALG has a 0.78% expense ratio, which is higher than ASMG's 0.75% expense ratio.

Dividends

AALG vs. ASMG - Dividend Comparison

AALG's dividend yield for the trailing twelve months is around 1.82%, less than ASMG's 4.94% yield.

Position	TTM	2025
AALG Leverage Shares 2X Long AAL Daily ETF	1.82%	1.56%
ASMG Leverage Shares 2X Long ASML Daily ETF	4.94%	11.20%

Frequently Asked Questions

Can I hold both AALG and ASMG in my portfolio?

AALG and ASMG have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AALG or ASMG?

ASMG has higher volatility (37.83%) compared to AALG (25.61%). In terms of maximum drawdown, AALG dropped -64.19% vs ASMG's -43.95%.

Which ETF is better, AALG or ASMG?

On 1-year performance, ASMG leads with 310.91% vs 14.54% for AALG. On fees, ASMG is cheaper at 0.75% per year. On volatility, AALG has been the lower-risk option at 25.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AALG or ASMG?

Over the 1-year period, ASMG has performed better with a 310.91% return vs 14.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AALG or ASMG?

ASMG is cheaper with a 0.75% expense ratio, compared with 0.78% for AALG.

Which ETF pays a higher dividend yield, AALG or ASMG?

ASMG has the higher dividend yield at 4.94%, compared with 1.82% for AALG.

What is the main difference between AALG and ASMG?

Their fees differ too: 0.78% for AALG and 0.75% for ASMG.

Which has better risk-adjusted returns?

ASMG currently has the higher Sharpe Ratio (3.48 vs 0.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.