BKNU vs. TSMG

Last updated Jun 5, 2026

BKNU (T-Rex 2X Long BKNG Daily Target ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.13 correlation, their price movements are largely independent. BKNU charges 1.50%/yr vs 0.75%/yr for TSMG.

Performance

BKNU vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long BKNG Daily Target ETF (BKNU) and Leverage Shares 2X Long TSM Daily ETF (TSMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BKNU

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 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)

BKNU vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
BKNU T-Rex 2X Long BKNG Daily Target ETF	-39.53%	-14.43%
TSMG Leverage Shares 2X Long TSM Daily ETF	92.52%	25.83%

Correlation

The correlation between BKNU and TSMG is 0.13, 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 18, 2025	0.13

Return for Risk

BKNU 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: 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.

BKNU vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long BKNG Daily Target ETF (BKNU) 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

	BKNU	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.76	—

Drawdowns

Drawdown Indicators

	BKNU	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	—	-63.67%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-35.29%	—
Current Drawdown Current decline from peak	—	-0.93%	—
Average Drawdown Average peak-to-trough decline	—	-16.94%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.79%	—

Volatility

Volatility by Period

	BKNU	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	22.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	55.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	71.76%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	80.99%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	80.99%	—

BKNU vs. TSMG - Expense Ratio Comparison

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

Dividends

BKNU vs. TSMG - Dividend Comparison

BKNU has not paid dividends to shareholders, while TSMG's dividend yield for the trailing twelve months is around 5.96%.

Position	TTM	2025
BKNU T-Rex 2X Long BKNG Daily Target ETF	0.00%	0.00%
TSMG Leverage Shares 2X Long TSM Daily ETF	5.96%	11.48%

Frequently Asked Questions

Can I hold both BKNU and TSMG in my portfolio?

BKNU and TSMG have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BKNU 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, BKNU or TSMG?

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

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

TSMG has the higher dividend yield at 5.96%, compared with 0.00% for BKNU.

What is the main difference between BKNU and TSMG?

They also come from different issuers: Tuttle Capital Management and Leverage Shares. Their fees differ too: 1.50% for BKNU and 0.75% for TSMG.