CRMG vs. TSMX

Last updated Jun 6, 2026

CRMG (Leverage Shares 2X Long CRM Daily ETF) and TSMX (Direxion Daily TSM Bull 2X Shares) are both Leveraged Equities funds. Both are actively managed. Over the past year, CRMG returned -62.88% vs 234.63% for TSMX. At a 0.06 correlation, their price movements are largely independent. CRMG charges 0.75%/yr vs 1.05%/yr for TSMX.

Performance

CRMG vs. TSMX - Performance Comparison

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

Returns By Period

In the year-to-date period, CRMG achieves a -57.62% return, which is significantly lower than TSMX's 66.04% return.

CRMG

• 1D: -3.49%
• 1M: 0.69%
• YTD: -57.62%
• 6M: -56.45%
• 1Y: -62.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMX

• 1D: -13.63%
• 1M: -4.57%
• YTD: 66.04%
• 6M: 75.51%
• 1Y: 234.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CRMG vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025
CRMG Leverage Shares 2X Long CRM Daily ETF	-57.62%	3.69%
TSMX Direxion Daily TSM Bull 2X Shares	66.04%	265.23%

Correlation

The correlation between CRMG and TSMX is -0.03, 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	-0.03
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	0.06

Return for Risk

CRMG vs. TSMX — Risk / Return Rank

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

CRMG

CRMG Risk / Return Rank: 2
CRMG Sharpe Ratio Rank: 3
CRMG Sortino Ratio Rank: 2
CRMG Omega Ratio Rank: 2
CRMG Calmar Ratio Rank: 1
CRMG Martin Ratio Rank: 1

TSMX

TSMX Risk / Return Rank: 84
TSMX Sharpe Ratio Rank: 93
TSMX Sortino Ratio Rank: 76
TSMX Omega Ratio Rank: 69
TSMX Calmar Ratio Rank: 94
TSMX Martin Ratio Rank: 92

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.

CRMG vs. TSMX - Risk-Adjusted Trends Comparison

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

	CRMG	TSMX	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	3.24	-4.08
Sortino ratio: Return per unit of downside risk	-1.25	3.26	-4.51
Omega ratio: Gain probability vs. loss probability	0.85	1.40	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.89	6.76	-7.65
Martin ratio: Return relative to average drawdown	-1.52	22.01	-23.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRMG vs. TSMX - Sharpe Ratio Comparison

The current CRMG Sharpe Ratio is -0.84, which is lower than the TSMX Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of CRMG and TSMX, 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

	CRMG	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.84	3.24	-4.08
Sharpe Ratio (All Time) Calculated using the full available price history	-0.67	1.37	-2.04

Drawdowns

CRMG vs. TSMX - Drawdown Comparison

The maximum CRMG drawdown since its inception was -74.38%, which is greater than TSMX's maximum drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for CRMG and TSMX.

Drawdown Indicators

	CRMG	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-74.38%	-63.80%	-10.58%
Max Drawdown (1Y) Largest decline over 1 year	-70.91%	-34.93%	-35.98%
Current Drawdown Current decline from peak	-68.99%	-14.46%	-54.53%
Average Drawdown Average peak-to-trough decline	-37.92%	-15.81%	-22.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.28%	10.71%	+30.57%

Volatility

CRMG vs. TSMX - Volatility Comparison

Leverage Shares 2X Long CRM Daily ETF (CRMG) has a higher volatility of 33.63% compared to Direxion Daily TSM Bull 2X Shares (TSMX) at 24.62%. This indicates that CRMG's price experiences larger fluctuations and is considered to be riskier than TSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRMG	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.63%	24.62%	+9.01%
Volatility (6M) Calculated over the trailing 6-month period	63.83%	56.53%	+7.30%
Volatility (1Y) Calculated over the trailing 1-year period	75.38%	72.94%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.55%	81.51%	-5.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.55%	81.51%	-5.96%

CRMG vs. TSMX - Expense Ratio Comparison

CRMG has a 0.75% expense ratio, which is lower than TSMX's 1.05% expense ratio.

Dividends

CRMG vs. TSMX - Dividend Comparison

CRMG has not paid dividends to shareholders, while TSMX's dividend yield for the trailing twelve months is around 4.97%.

Position	TTM	2025	2024
CRMG Leverage Shares 2X Long CRM Daily ETF	0.00%	0.00%	0.00%
TSMX Direxion Daily TSM Bull 2X Shares	4.97%	8.01%	0.53%

Frequently Asked Questions

Can I hold both CRMG and TSMX in my portfolio?

CRMG and TSMX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRMG or TSMX?

CRMG has higher volatility (33.63%) compared to TSMX (24.62%). In terms of maximum drawdown, CRMG dropped -74.38% vs TSMX's -63.80%.

Which ETF is better, CRMG or TSMX?

On 1-year performance, TSMX leads with 234.63% vs -62.88% for CRMG. On fees, CRMG is cheaper at 0.75% per year. On volatility, TSMX has been the lower-risk option at 24.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRMG or TSMX?

Over the 1-year period, TSMX has performed better with a 234.63% return vs -62.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRMG or TSMX?

CRMG is cheaper with a 0.75% expense ratio, compared with 1.05% for TSMX.

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

TSMX has the higher dividend yield at 4.97%, compared with 0.00% for CRMG.

What is the main difference between CRMG and TSMX?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for CRMG and 1.05% for TSMX.

Which has better risk-adjusted returns?

TSMX currently has the higher Sharpe Ratio (3.24 vs -0.84), 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.