AVGG vs. TSMG

Last updated Jun 4, 2026

AVGG (Leverage Shares 2X Long AVGO 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, AVGG returned 161.88% vs 297.71% for TSMG. A 0.55 correlation means they provide meaningful diversification when combined. AVGG charges 0.76%/yr vs 0.75%/yr for TSMG.

Performance

AVGG vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long AVGO Daily ETF (AVGG) 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, AVGG achieves a 71.17% return, which is significantly lower than TSMG's 86.06% return.

AVGG

• 1D: -0.88%
• 1M: 29.67%
• YTD: 71.17%
• 6M: 37.06%
• 1Y: 161.88%
• 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)

AVGG vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
AVGG Leverage Shares 2X Long AVGO Daily ETF	71.17%	91.29%
TSMG Leverage Shares 2X Long TSM Daily ETF	86.06%	119.42%

Correlation

The correlation between AVGG and TSMG is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (All Time) Calculated using the full available price history since May 19, 2025	0.55

The correlation between AVGG and TSMG has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.

Return for Risk

AVGG vs. TSMG — Risk / Return Rank

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

AVGG

AVGG Risk / Return Rank: 53
AVGG Sharpe Ratio Rank: 57
AVGG Sortino Ratio Rank: 52
AVGG Omega Ratio Rank: 51
AVGG Calmar Ratio Rank: 62
AVGG Martin Ratio Rank: 43

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.

AVGG vs. TSMG - Risk-Adjusted Trends Comparison

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

	AVGG	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	1.90	4.18	-2.29
Sortino ratio: Return per unit of downside risk	2.49	3.78	-1.29
Omega ratio: Gain probability vs. loss probability	1.31	1.46	-0.15
Calmar ratio: Return relative to maximum drawdown	3.03	8.50	-5.47
Martin ratio: Return relative to average drawdown	6.75	27.74	-20.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVGG vs. TSMG - Sharpe Ratio Comparison

The current AVGG Sharpe Ratio is 1.90, which is lower than the TSMG Sharpe Ratio of 4.18. The chart below compares the historical Sharpe Ratios of AVGG 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

	AVGG	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	4.18	-2.29
Sharpe Ratio (All Time) Calculated using the full available price history	2.52	1.69	+0.82

Drawdowns

AVGG vs. TSMG - Drawdown Comparison

The maximum AVGG drawdown since its inception was -53.77%, smaller than the maximum TSMG drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for AVGG and TSMG.

Drawdown Indicators

	AVGG	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-53.77%	-63.67%	+9.90%
Max Drawdown (1Y) Largest decline over 1 year	-53.77%	-35.29%	-18.48%
Current Drawdown Current decline from peak	-0.88%	-4.26%	+3.38%
Average Drawdown Average peak-to-trough decline	-17.71%	-16.98%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.09%	10.79%	+13.30%

Volatility

AVGG vs. TSMG - Volatility Comparison

Leverage Shares 2X Long AVGO Daily ETF (AVGG) and Leverage Shares 2X Long TSM Daily ETF (TSMG) have volatilities of 23.84% and 23.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVGG	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.84%	23.14%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	61.82%	55.07%	+6.75%
Volatility (1Y) Calculated over the trailing 1-year period	86.10%	71.74%	+14.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.79%	81.06%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.79%	81.06%	+3.73%

AVGG vs. TSMG - Expense Ratio Comparison

AVGG has a 0.76% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

AVGG vs. TSMG - Dividend Comparison

AVGG's dividend yield for the trailing twelve months is around 1.32%, less than TSMG's 6.17% yield.

Position	TTM	2025
AVGG Leverage Shares 2X Long AVGO Daily ETF	1.32%	2.26%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.17%	11.48%

Frequently Asked Questions

Can I hold both AVGG and TSMG in my portfolio?

AVGG and TSMG have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVGG or TSMG?

AVGG has higher volatility (23.84%) compared to TSMG (23.14%). In terms of maximum drawdown, AVGG dropped -53.77% vs TSMG's -63.67%.

Which ETF is better, AVGG or TSMG?

On 1-year performance, TSMG leads with 297.71% vs 161.88% for AVGG. On fees, TSMG is cheaper at 0.75% per year. On volatility, TSMG has been the lower-risk option at 23.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVGG or TSMG?

Over the 1-year period, TSMG has performed better with a 297.71% return vs 161.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVGG or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 0.76% for AVGG.

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

TSMG has the higher dividend yield at 6.17%, compared with 1.32% for AVGG.

What is the main difference between AVGG and TSMG?

Their fees differ too: 0.76% for AVGG and 0.75% for TSMG.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (4.18 vs 1.90), 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.