CLDL vs. TSMX

Last updated Jun 4, 2026

CLDL (Direxion Daily Cloud Computing Bull 2X Shares) and TSMX (Direxion Daily TSM Bull 2X Shares) are both Leveraged Equities funds from Direxion. Both are actively managed. At a 0.33 correlation, their price movements are largely independent. CLDL charges 0.95%/yr vs 1.05%/yr for TSMX.

Performance

CLDL vs. TSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Cloud Computing Bull 2X Shares (CLDL) and Direxion Daily TSM Bull 2X Shares (TSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLDL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMX

• 1D: -4.27%
• 1M: 15.97%
• YTD: 85.80%
• 6M: 94.81%
• 1Y: 295.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLDL vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CLDL Direxion Daily Cloud Computing Bull 2X Shares	0.00%	3.74%	38.25%
TSMX Direxion Daily TSM Bull 2X Shares	85.80%	81.48%	14.76%

Correlation

The correlation between CLDL and TSMX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	0.33

Over the past year, the correlation between CLDL and TSMX has dropped to 0.04 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.

CLDL vs. TSMX - Sectors Allocation Comparison

Sectors	CLDL	TSMX
Technology	94.5%	100.0%
Healthcare	5.5%	-
Communication Services	1.1%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

CLDL vs. TSMX — Risk / Return Rank

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

TSMX

TSMX Risk / Return Rank: 89
TSMX Sharpe Ratio Rank: 96
TSMX Sortino Ratio Rank: 83
TSMX Omega Ratio Rank: 75
TSMX Calmar Ratio Rank: 95
TSMX 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.

CLDL vs. TSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Cloud Computing Bull 2X Shares (CLDL) and Direxion Daily TSM Bull 2X Shares (TSMX). 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

	CLDL	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.57	—

Drawdowns

Drawdown Indicators

	CLDL	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	—	-63.80%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-34.93%	—
Current Drawdown Current decline from peak	—	-4.27%	—
Average Drawdown Average peak-to-trough decline	—	-15.85%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.68%	—

Volatility

Volatility by Period

	CLDL	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	22.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	54.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	71.63%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	80.93%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	80.93%	—

CLDL vs. TSMX - Expense Ratio Comparison

CLDL has a 0.95% expense ratio, which is lower than TSMX's 1.05% expense ratio.

Dividends

CLDL vs. TSMX - Dividend Comparison

CLDL's dividend yield for the trailing twelve months is around 0.21%, less than TSMX's 4.44% yield.

Position	TTM	2025	2024	2023	2022	2021
CLDL Direxion Daily Cloud Computing Bull 2X Shares	0.21%	0.26%	0.00%	0.00%	0.00%	4.78%
TSMX Direxion Daily TSM Bull 2X Shares	4.44%	8.01%	0.53%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLDL and TSMX in my portfolio?

CLDL and TSMX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLDL or TSMX?

On fees, CLDL is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLDL or TSMX?

CLDL is cheaper with a 0.95% expense ratio, compared with 1.05% for TSMX.

Which ETF pays a higher dividend yield, CLDL or TSMX?

TSMX has the higher dividend yield at 4.44%, compared with 0.21% for CLDL.

What is the main difference between CLDL and TSMX?

Their fees differ too: 0.95% for CLDL and 1.05% for TSMX.