AALG vs. TSMG

Last updated Jun 4, 2026

AALG (Leverage Shares 2X Long AAL Daily ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds from Leverage Shares. Both are actively managed. At a 0.28 correlation, their price movements are largely independent. AALG charges 0.78%/yr vs 0.75%/yr for TSMG.

Performance

AALG vs. TSMG - 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 TSM Daily ETF (TSMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AALG achieves a -32.60% return, which is significantly lower than TSMG's 86.06% return.

AALG

• 1D: -4.84%
• 1M: 28.23%
• YTD: -32.60%
• 6M: -26.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMG

• 1D: -4.26%
• 1M: 15.77%
• YTD: 86.06%
• 6M: 95.35%
• 1Y: 297.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AALG vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
AALG Leverage Shares 2X Long AAL Daily ETF	-32.60%	34.84%
TSMG Leverage Shares 2X Long TSM Daily ETF	86.06%	58.75%

Correlation

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

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	0.28

Return for Risk

AALG vs. TSMG — Risk / Return Rank

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

TSMG

TSMG Risk / Return Rank: 89
TSMG Sharpe Ratio Rank: 96
TSMG Sortino Ratio Rank: 83
TSMG Omega Ratio Rank: 76
TSMG Calmar Ratio Rank: 95
TSMG Martin Ratio Rank: 94

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. TSMG - 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 TSM Daily ETF (TSMG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AALG	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	1.69	-1.80

Drawdowns

AALG vs. TSMG - Drawdown Comparison

The maximum AALG drawdown since its inception was -64.19%, roughly equal to the maximum TSMG drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for AALG and TSMG.

Drawdown Indicators

	AALG	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-64.19%	-63.67%	-0.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.29%	—
Current Drawdown Current decline from peak	-40.39%	-4.26%	-36.13%
Average Drawdown Average peak-to-trough decline	-25.40%	-16.98%	-8.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.79%	—

Volatility

Volatility by Period

	AALG	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	23.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	55.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	95.00%	71.74%	+23.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.00%	81.06%	+13.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.00%	81.06%	+13.94%

AALG vs. TSMG - Expense Ratio Comparison

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

Dividends

AALG vs. TSMG - Dividend Comparison

AALG's dividend yield for the trailing twelve months is around 2.31%, less than TSMG's 6.17% yield.

Position	TTM	2025
AALG Leverage Shares 2X Long AAL Daily ETF	2.31%	1.56%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.17%	11.48%

Frequently Asked Questions

Can I hold both AALG and TSMG in my portfolio?

AALG and TSMG 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 ETF is better, AALG or TSMG?

On fees, TSMG 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, AALG or TSMG?

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

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

TSMG has the higher dividend yield at 6.17%, compared with 2.31% for AALG.

What is the main difference between AALG and TSMG?

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