CLIP vs. TSMG

Last updated Jun 23, 2026

CLIP (Global X 1-3 Month T-Bill ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both exchange-traded funds - CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD, while TSMG is a Leveraged Equities fund actively managed by Leverage Shares. CLIP is passively managed, while TSMG is actively managed. Over the past year, CLIP returned 3.97% vs 295.67% for TSMG. At a correlation of -0.15, they often move in opposite directions. CLIP charges 0.07%/yr vs 0.75%/yr for TSMG.

Performance

CLIP vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X 1-3 Month T-Bill ETF (CLIP) 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, CLIP achieves a 1.71% return, which is significantly lower than TSMG's 108.52% return.

CLIP

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.71%
• 6M: 1.82%
• 1Y: 3.97%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

TSMG

• 1D: 2.19%
• 1M: 30.51%
• YTD: 108.52%
• 6M: 123.61%
• 1Y: 295.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLIP vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
CLIP Global X 1-3 Month T-Bill ETF	1.71%	4.12%
TSMG Leverage Shares 2X Long TSM Daily ETF	108.52%	71.03%

Correlation

The correlation between CLIP and TSMG is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	-0.15

Return for Risk

CLIP vs. TSMG — Risk / Return Rank

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

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

TSMG

TSMG Risk / Return Rank: 90
TSMG Sharpe Ratio Rank: 96
TSMG Sortino Ratio Rank: 84
TSMG Omega Ratio Rank: 77
TSMG Calmar Ratio Rank: 96
TSMG Martin Ratio Rank: 95

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.

CLIP vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X 1-3 Month T-Bill ETF (CLIP) 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.

	CLIP	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	17.97	3.95	+14.03
Sortino ratio: Return per unit of downside risk	81.28	3.58	+77.70
Omega ratio: Gain probability vs. loss probability	26.48	1.44	+25.04
Calmar ratio: Return relative to maximum drawdown	142.41	8.44	+133.97
Martin ratio: Return relative to average drawdown	1,288.03	27.04	+1,260.99

CLIP vs. TSMG - Sharpe Ratio Comparison

The current CLIP Sharpe Ratio is 17.97, which is higher than the TSMG Sharpe Ratio of 3.95. The chart below compares the historical Sharpe Ratios of CLIP 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

CLIP vs. TSMG - Drawdown Comparison

The maximum CLIP drawdown since its inception was -0.08%, smaller than the maximum TSMG drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for CLIP and TSMG.

Drawdown Indicators

	CLIP	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-63.67%	+63.59%
Max Drawdown (1Y) Largest decline over 1 year	-0.03%	-35.29%	+35.26%
Max Drawdown (3Y) Largest decline over 3 years	-0.08%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-16.65%	+16.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	10.99%	-10.99%

Volatility

CLIP vs. TSMG - Volatility Comparison

The current volatility for Global X 1-3 Month T-Bill ETF (CLIP) is 0.07%, while Leverage Shares 2X Long TSM Daily ETF (TSMG) has a volatility of 29.04%. This indicates that CLIP 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

	CLIP	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	29.04%	-28.97%
Volatility (6M) Calculated over the trailing 6-month period	0.15%	59.04%	-58.89%
Volatility (1Y) Calculated over the trailing 1-year period	0.22%	75.62%	-75.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.44%	82.51%	-82.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.44%	82.51%	-82.07%

CLIP vs. TSMG - Expense Ratio Comparison

CLIP has a 0.07% expense ratio, which is lower than TSMG's 0.75% expense ratio.

Dividends

CLIP vs. TSMG - Dividend Comparison

CLIP's dividend yield for the trailing twelve months is around 3.90%, less than TSMG's 5.51% yield.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.90%	4.14%	5.11%	2.75%
TSMG Leverage Shares 2X Long TSM Daily ETF	5.51%	11.48%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLIP and TSMG in my portfolio?

CLIP and TSMG have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLIP or TSMG?

TSMG has higher volatility (29.04%) compared to CLIP (0.07%). In terms of maximum drawdown, CLIP dropped -0.08% vs TSMG's -63.67%.

Which ETF is better, CLIP or TSMG?

On 1-year performance, TSMG leads with 295.67% vs 3.97% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLIP or TSMG?

Over the 1-year period, TSMG has performed better with a 295.67% return vs 3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLIP or TSMG?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.75% for TSMG.

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

TSMG has the higher dividend yield at 5.51%, compared with 3.90% for CLIP.

What is the main difference between CLIP and TSMG?

CLIP is categorized as Ultrashort Bond, while TSMG is Leveraged Equities. They also come from different issuers: Global X and Leverage Shares. Their fees differ too: 0.07% for CLIP and 0.75% for TSMG.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.97 vs 3.95), 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.