AFRU vs. TSMG

Last updated Jun 4, 2026

AFRU (T-REX 2X Long AFRM Daily Target ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.25 correlation, their price movements are largely independent. AFRU charges 1.50%/yr vs 0.75%/yr for TSMG.

Performance

AFRU vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long AFRM Daily Target ETF (AFRU) 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, AFRU achieves a -38.11% return, which is significantly lower than TSMG's 86.06% return.

AFRU

• 1D: -13.32%
• 1M: -6.56%
• YTD: -38.11%
• 6M: -32.41%
• 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)

AFRU vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
AFRU T-REX 2X Long AFRM Daily Target ETF	-38.11%	-42.30%
TSMG Leverage Shares 2X Long TSM Daily ETF	86.06%	26.27%

Correlation

The correlation between AFRU and TSMG is 0.25, 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 Sep 17, 2025	0.25

Return for Risk

AFRU 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.

AFRU vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long AFRM Daily Target ETF (AFRU) 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

	AFRU	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	-0.63	1.69	-2.33

Drawdowns

AFRU vs. TSMG - Drawdown Comparison

The maximum AFRU drawdown since its inception was -84.44%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for AFRU and TSMG.

Drawdown Indicators

	AFRU	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-84.44%	-63.67%	-20.77%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.29%	—
Current Drawdown Current decline from peak	-65.60%	-4.26%	-61.34%
Average Drawdown Average peak-to-trough decline	-56.01%	-16.98%	-39.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.79%	—

Volatility

Volatility by Period

	AFRU	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	121.30%	71.74%	+49.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	121.30%	81.06%	+40.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.30%	81.06%	+40.24%

AFRU vs. TSMG - Expense Ratio Comparison

AFRU has a 1.50% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

AFRU vs. TSMG - Dividend Comparison

AFRU has not paid dividends to shareholders, while TSMG's dividend yield for the trailing twelve months is around 6.17%.

Position	TTM	2025
AFRU T-REX 2X Long AFRM Daily Target ETF	0.00%	0.00%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.17%	11.48%

Frequently Asked Questions

Can I hold both AFRU and TSMG in my portfolio?

AFRU and TSMG have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AFRU 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, AFRU or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 1.50% for AFRU.

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

TSMG has the higher dividend yield at 6.17%, compared with 0.00% for AFRU.

What is the main difference between AFRU and TSMG?

They also come from different issuers: T-Rex and Leverage Shares. Their fees differ too: 1.50% for AFRU and 0.75% for TSMG.