AVGU vs. TSMG

Last updated Aug 4, 2026

AVGU (GraniteShares 2x Long AVGO Daily ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, AVGU returned 34.11% vs 130.51% for TSMG. Their 0.61 correlation means they have sometimes moved together and sometimes differently. AVGU charges 1.50%/yr vs 0.75%/yr for TSMG.

Performance

AVGU vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long AVGO Daily ETF (AVGU) 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, AVGU achieves a 6.01% return, which is significantly lower than TSMG's 50.02% return.

AVGU

• 1D: 1.04%
• 1M: 15.33%
• 6M: 17.74%
• YTD: 6.01%
• 1Y: 34.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 39.51%

TSMG

• 1D: 1.17%
• 1M: -15.01%
• 6M: 21.20%
• YTD: 50.02%
• 1Y: 130.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 83.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AVGU GraniteShares 2x Long AVGO Daily ETF	$2.09M	$2.95M	$5.92M
TSMG Leverage Shares 2X Long TSM Daily ETF	$3.54M	$4.48M	$4.36M

AVGU vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
AVGU GraniteShares 2x Long AVGO Daily ETF	6.01%	33.87%
TSMG Leverage Shares 2X Long TSM Daily ETF	50.02%	59.80%

Correlation

The correlation between AVGU and TSMG is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.61

The correlation between AVGU and TSMG has been stable across timeframes, ranging from 0.61 to 0.61 - a consistent structural relationship.

Return for Risk

AVGU vs. TSMG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AVGU

AVGU Risk / Return Rank: 23
AVGU Sharpe Ratio Rank: 18
AVGU Sortino Ratio Rank: 29
AVGU Omega Ratio Rank: 29
AVGU Calmar Ratio Rank: 21
AVGU Martin Ratio Rank: 19

TSMG

TSMG Risk / Return Rank: 70
TSMG Sharpe Ratio Rank: 67
TSMG Sortino Ratio Rank: 65
TSMG Omega Ratio Rank: 60
TSMG Calmar Ratio Rank: 84
TSMG Martin Ratio Rank: 75

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AVGU vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AVGO Daily ETF (AVGU) 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.

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.

	AVGU	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	0.36	1.60	-1.24
Sortino ratio: Return per unit of downside risk	1.17	2.22	-1.05
Omega ratio: Gain probability vs. loss probability	1.15	1.27	-0.12
Calmar ratio: Return relative to maximum drawdown	0.64	3.25	-2.61
Martin ratio: Return relative to average drawdown	1.19	9.77	-8.58

AVGU vs. TSMG - Sharpe Ratio Comparison

The current AVGU Sharpe Ratio is 0.36, which is lower than the TSMG Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of AVGU 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.

Drawdowns

AVGU vs. TSMG - Drawdown Comparison

The maximum AVGU drawdown since its inception was -53.30%, smaller than the maximum TSMG drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for AVGU and TSMG.

Drawdown Indicators

	AVGU	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-53.30%	-63.67%	+10.37%
Max Drawdown (1Y) Largest decline over 1 year	-53.30%	-40.36%	-12.94%
Current Drawdown Current decline from peak	-39.17%	-30.07%	-9.10%
Average Drawdown Average peak-to-trough decline	-22.90%	-17.05%	-5.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.67%	13.41%	+15.26%

Volatility

AVGU vs. TSMG - Volatility Comparison

The current volatility for GraniteShares 2x Long AVGO Daily ETF (AVGU) is 24.87%, while Leverage Shares 2X Long TSM Daily ETF (TSMG) has a volatility of 28.04%. This indicates that AVGU experiences smaller price fluctuations and is considered to be less risky than TSMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVGU	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.87%	28.04%	-3.17%
Volatility (6M) Calculated over the trailing 6-month period	70.09%	66.92%	+3.17%
Volatility (1Y) Calculated over the trailing 1-year period	95.06%	82.33%	+12.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	93.37%	85.02%	+8.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.37%	85.02%	+8.35%

AVGU vs. TSMG - Expense Ratio Comparison

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

Dividends

AVGU vs. TSMG - Dividend Comparison

AVGU has not paid dividends to shareholders, while TSMG's dividend yield for the trailing twelve months is around 7.65%.

Position	TTM	2025
AVGU GraniteShares 2x Long AVGO Daily ETF	0.00%	0.00%
TSMG Leverage Shares 2X Long TSM Daily ETF	7.65%	11.48%

Frequently Asked Questions

Can I hold both AVGU and TSMG in my portfolio?

AVGU and TSMG have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVGU or TSMG?

TSMG has higher volatility (28.04%) compared to AVGU (24.87%). In terms of maximum drawdown, AVGU dropped -53.30% vs TSMG's -63.67%.

Which ETF is better, AVGU or TSMG?

On 1-year performance, TSMG leads with 130.51% vs 34.11% for AVGU. On fees, TSMG is cheaper at 0.75% per year. On volatility, AVGU has been the lower-risk option at 24.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVGU or TSMG?

Over the 1-year period, TSMG has performed better with a 130.51% return vs 34.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVGU or TSMG?

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

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

TSMG has the higher dividend yield at 7.65%, compared with 0.00% for AVGU.

What is the main difference between AVGU and TSMG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for AVGU and 0.75% for TSMG.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (1.60 vs 0.36), 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.