ARMG vs. TSMG

Last updated Jun 5, 2026

ARMG (Leverage Shares 2X Long ARM Daily ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds from Leverage Shares. Both are actively managed. Over the past year, ARMG returned 443.95% vs 292.24% for TSMG. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

ARMG vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ARM Daily ETF (ARMG) 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, ARMG achieves a 841.05% return, which is significantly higher than TSMG's 92.52% return.

ARMG

• 1D: -9.19%
• 1M: 211.14%
• YTD: 841.05%
• 6M: 460.44%
• 1Y: 443.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMG

• 1D: 3.47%
• 1M: 24.82%
• YTD: 92.52%
• 6M: 104.85%
• 1Y: 292.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ARMG vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	841.05%	-61.80%
TSMG Leverage Shares 2X Long TSM Daily ETF	92.52%	76.34%

Correlation

The correlation between ARMG and TSMG is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.54

The correlation between ARMG and TSMG has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.

Return for Risk

ARMG vs. TSMG — Risk / Return Rank

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

ARMG

ARMG Risk / Return Rank: 81
ARMG Sharpe Ratio Rank: 93
ARMG Sortino Ratio Rank: 78
ARMG Omega Ratio Rank: 74
ARMG Calmar Ratio Rank: 93
ARMG Martin Ratio Rank: 65

TSMG

TSMG Risk / Return Rank: 89
TSMG Sharpe Ratio Rank: 96
TSMG Sortino Ratio Rank: 84
TSMG Omega Ratio Rank: 78
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.

ARMG vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ARM Daily ETF (ARMG) 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.

	ARMG	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	3.43	4.11	-0.68
Sortino ratio: Return per unit of downside risk	3.45	3.75	-0.30
Omega ratio: Gain probability vs. loss probability	1.43	1.45	-0.02
Calmar ratio: Return relative to maximum drawdown	6.57	8.34	-1.77
Martin ratio: Return relative to average drawdown	11.59	27.23	-15.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARMG vs. TSMG - Sharpe Ratio Comparison

The current ARMG Sharpe Ratio is 3.43, which is comparable to the TSMG Sharpe Ratio of 4.11. The chart below compares the historical Sharpe Ratios of ARMG and TSMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARMG	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.43	4.11	-0.68
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	1.76	-0.66

Drawdowns

ARMG vs. TSMG - Drawdown Comparison

The maximum ARMG drawdown since its inception was -80.28%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for ARMG and TSMG.

Drawdown Indicators

	ARMG	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-80.28%	-63.67%	-16.61%
Max Drawdown (1Y) Largest decline over 1 year	-68.13%	-35.29%	-32.84%
Current Drawdown Current decline from peak	-9.19%	-0.93%	-8.26%
Average Drawdown Average peak-to-trough decline	-52.91%	-16.94%	-35.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.55%	10.79%	+27.76%

Volatility

ARMG vs. TSMG - Volatility Comparison

Leverage Shares 2X Long ARM Daily ETF (ARMG) has a higher volatility of 66.47% compared to Leverage Shares 2X Long TSM Daily ETF (TSMG) at 22.71%. This indicates that ARMG's price experiences larger fluctuations and is considered to be riskier than TSMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARMG	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	66.47%	22.71%	+43.76%
Volatility (6M) Calculated over the trailing 6-month period	104.49%	55.10%	+49.39%
Volatility (1Y) Calculated over the trailing 1-year period	130.67%	71.76%	+58.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	138.36%	80.99%	+57.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	138.36%	80.99%	+57.37%

ARMG vs. TSMG - Expense Ratio Comparison

Both ARMG and TSMG have an expense ratio of 0.75%.

Dividends

ARMG vs. TSMG - Dividend Comparison

ARMG's dividend yield for the trailing twelve months is around 0.52%, less than TSMG's 5.96% yield.

Position	TTM	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	0.52%	4.86%
TSMG Leverage Shares 2X Long TSM Daily ETF	5.96%	11.48%

Frequently Asked Questions

Can I hold both ARMG and TSMG in my portfolio?

ARMG and TSMG have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARMG or TSMG?

ARMG has higher volatility (66.47%) compared to TSMG (22.71%). In terms of maximum drawdown, ARMG dropped -80.28% vs TSMG's -63.67%.

Which ETF is better, ARMG or TSMG?

On 1-year performance, ARMG leads with 443.95% vs 292.24% for TSMG. Both ETFs have the same 0.75% expense ratio. On volatility, TSMG has been the lower-risk option at 22.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARMG or TSMG?

Over the 1-year period, ARMG has performed better with a 443.95% return vs 292.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARMG or TSMG?

ARMG and TSMG have the same expense ratio: 0.75% per year.

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

TSMG has the higher dividend yield at 5.96%, compared with 0.52% for ARMG.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (4.11 vs 3.43), 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.