DIG vs. TSMG

Last updated Jun 24, 2026

DIG (ProShares Ultra Oil & Gas) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. DIG is passively managed, while TSMG is actively managed. Over the past year, DIG returned 53.89% vs 241.80% for TSMG. At a 0.02 correlation, their price movements are largely independent. DIG charges 0.95%/yr vs 0.75%/yr for TSMG.

Performance

DIG vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Oil & Gas (DIG) 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, DIG achieves a 44.39% return, which is significantly lower than TSMG's 80.39% return.

DIG

• 1D: 1.37%
• 1M: -15.65%
• YTD: 44.39%
• 6M: 45.60%
• 1Y: 53.89%
• 3Y*: 19.73%
• 5Y*: 24.80%
• 10Y*: 3.76%

TSMG

• 1D: -13.49%
• 1M: 12.90%
• YTD: 80.39%
• 6M: 88.25%
• 1Y: 241.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIG vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
DIG ProShares Ultra Oil & Gas	44.39%	-7.25%
TSMG Leverage Shares 2X Long TSM Daily ETF	80.39%	71.03%

Correlation

The correlation between DIG and TSMG is -0.12, 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	-0.12
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.02

The correlation between DIG and TSMG shifts across timeframes, from -0.12 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DIG vs. TSMG — Risk / Return Rank

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

DIG

DIG Risk / Return Rank: 37
DIG Sharpe Ratio Rank: 38
DIG Sortino Ratio Rank: 35
DIG Omega Ratio Rank: 34
DIG Calmar Ratio Rank: 40
DIG Martin Ratio Rank: 38

TSMG

TSMG Risk / Return Rank: 85
TSMG Sharpe Ratio Rank: 93
TSMG Sortino Ratio Rank: 75
TSMG Omega Ratio Rank: 70
TSMG Calmar Ratio Rank: 94
TSMG 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.

DIG vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) 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.

	DIG	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	1.31	3.17	-1.86
Sortino ratio: Return per unit of downside risk	1.79	3.15	-1.37
Omega ratio: Gain probability vs. loss probability	1.22	1.39	-0.17
Calmar ratio: Return relative to maximum drawdown	1.92	6.90	-4.98
Martin ratio: Return relative to average drawdown	5.59	22.04	-16.45

DIG vs. TSMG - Sharpe Ratio Comparison

The current DIG Sharpe Ratio is 1.31, which is lower than the TSMG Sharpe Ratio of 3.17. The chart below compares the historical Sharpe Ratios of DIG 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

DIG vs. TSMG - Drawdown Comparison

The maximum DIG drawdown since its inception was -97.04%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for DIG and TSMG.

Drawdown Indicators

	DIG	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-97.04%	-63.67%	-33.37%
Max Drawdown (1Y) Largest decline over 1 year	-28.23%	-35.29%	+7.06%
Max Drawdown (3Y) Largest decline over 3 years	-42.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-46.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-92.53%	—	—
Current Drawdown Current decline from peak	-57.70%	-13.49%	-44.21%
Average Drawdown Average peak-to-trough decline	-64.33%	-16.65%	-47.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.68%	11.03%	-1.35%

Volatility

DIG vs. TSMG - Volatility Comparison

The current volatility for ProShares Ultra Oil & Gas (DIG) is 14.13%, while Leverage Shares 2X Long TSM Daily ETF (TSMG) has a volatility of 33.00%. This indicates that DIG 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

	DIG	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.13%	33.00%	-18.87%
Volatility (6M) Calculated over the trailing 6-month period	33.67%	60.76%	-27.09%
Volatility (1Y) Calculated over the trailing 1-year period	41.74%	76.78%	-35.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.53%	83.21%	-31.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.83%	83.21%	-25.38%

DIG vs. TSMG - Expense Ratio Comparison

DIG has a 0.95% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

DIG vs. TSMG - Dividend Comparison

DIG's dividend yield for the trailing twelve months is around 1.72%, less than TSMG's 6.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIG ProShares Ultra Oil & Gas	1.72%	2.62%	3.13%	0.61%	1.33%	2.24%	3.18%	2.72%	2.30%	1.76%	1.09%	1.56%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.37%	11.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIG and TSMG in my portfolio?

DIG and TSMG have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIG or TSMG?

TSMG has higher volatility (33.00%) compared to DIG (14.13%). In terms of maximum drawdown, DIG dropped -97.04% vs TSMG's -63.67%.

Which ETF is better, DIG or TSMG?

On 1-year performance, TSMG leads with 241.80% vs 53.89% for DIG. On fees, TSMG is cheaper at 0.75% per year. On volatility, DIG has been the lower-risk option at 14.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIG or TSMG?

Over the 1-year period, TSMG has performed better with a 241.80% return vs 53.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIG or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 0.95% for DIG.

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

TSMG has the higher dividend yield at 6.37%, compared with 1.72% for DIG.

What is the main difference between DIG and TSMG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for DIG and 0.75% for TSMG.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (3.17 vs 1.31), 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.