DPST vs. TSMG

Last updated Jun 4, 2026

DPST (Direxion Daily Regional Banks Bull 3X Shares) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. DPST is passively managed, while TSMG is actively managed. Over the past year, DPST returned 37.91% vs 297.71% for TSMG. At a 0.27 correlation, their price movements are largely independent. DPST charges 0.99%/yr vs 0.75%/yr for TSMG.

Performance

DPST vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Regional Banks Bull 3X Shares (DPST) 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, DPST achieves a 4.97% return, which is significantly lower than TSMG's 86.06% return.

DPST

• 1D: -7.03%
• 1M: -6.52%
• YTD: 4.97%
• 6M: 6.73%
• 1Y: 37.91%
• 3Y*: 23.22%
• 5Y*: -26.61%
• 10Y*: -14.98%

TSMG

• 1D: -4.26%
• 1M: 15.77%
• YTD: 86.06%
• 6M: 95.35%
• 1Y: 297.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DPST vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
DPST Direxion Daily Regional Banks Bull 3X Shares	4.97%	-8.42%
TSMG Leverage Shares 2X Long TSM Daily ETF	86.06%	76.34%

Correlation

The correlation between DPST and TSMG is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.27

The correlation between DPST and TSMG shifts across timeframes, from 0.15 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DPST vs. TSMG — Risk / Return Rank

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

DPST

DPST Risk / Return Rank: 20
DPST Sharpe Ratio Rank: 17
DPST Sortino Ratio Rank: 22
DPST Omega Ratio Rank: 23
DPST Calmar Ratio Rank: 21
DPST Martin Ratio Rank: 19

TSMG

TSMG Risk / Return Rank: 89
TSMG Sharpe Ratio Rank: 96
TSMG Sortino Ratio Rank: 83
TSMG Omega Ratio Rank: 76
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.

DPST vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Regional Banks Bull 3X Shares (DPST) 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.

	DPST	TSMG	Difference
Sharpe ratio Return per unit of total volatility	0.55	4.18	-3.63
Sortino ratio Return per unit of downside risk	1.18	3.78	-2.60
Omega ratio Gain probability vs. loss probability	1.15	1.46	-0.30
Calmar ratio Return relative to maximum drawdown	0.94	8.50	-7.56
Martin ratio Return relative to average drawdown	2.11	27.74	-25.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DPST vs. TSMG - Sharpe Ratio Comparison

The current DPST Sharpe Ratio is 0.55, which is lower than the TSMG Sharpe Ratio of 4.18. The chart below compares the historical Sharpe Ratios of DPST 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.

Sharpe Ratios by Period

	DPST	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	4.18	-3.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.30	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	1.69	-1.86

Drawdowns

DPST vs. TSMG - Drawdown Comparison

The maximum DPST drawdown since its inception was -97.73%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for DPST and TSMG.

Drawdown Indicators

	DPST	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-97.73%	-63.67%	-34.06%
Max Drawdown (1Y) Largest decline over 1 year	-40.44%	-35.29%	-5.15%
Max Drawdown (3Y) Largest decline over 3 years	-68.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-93.99%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-97.73%	—	—
Current Drawdown Current decline from peak	-93.57%	-4.26%	-89.31%
Average Drawdown Average peak-to-trough decline	-64.12%	-16.98%	-47.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.04%	10.79%	+7.25%

Volatility

DPST vs. TSMG - Volatility Comparison

The current volatility for Direxion Daily Regional Banks Bull 3X Shares (DPST) is 17.99%, while Leverage Shares 2X Long TSM Daily ETF (TSMG) has a volatility of 23.14%. This indicates that DPST 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

	DPST	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.99%	23.14%	-5.15%
Volatility (6M) Calculated over the trailing 6-month period	47.46%	55.07%	-7.61%
Volatility (1Y) Calculated over the trailing 1-year period	69.35%	71.74%	-2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.36%	81.06%	+8.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.57%	81.06%	+13.51%

DPST vs. TSMG - Expense Ratio Comparison

DPST has a 0.99% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

DPST vs. TSMG - Dividend Comparison

DPST's dividend yield for the trailing twelve months is around 2.01%, less than TSMG's 6.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DPST Direxion Daily Regional Banks Bull 3X Shares	2.01%	2.18%	1.55%	1.78%	1.51%	0.58%	0.90%	1.29%	2.18%	0.30%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.17%	11.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DPST and TSMG in my portfolio?

DPST and TSMG have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DPST or TSMG?

TSMG has higher volatility (23.14%) compared to DPST (17.99%). In terms of maximum drawdown, DPST dropped -97.73% vs TSMG's -63.67%.

Which ETF is better, DPST or TSMG?

On 1-year performance, TSMG leads with 297.71% vs 37.91% for DPST. On fees, TSMG is cheaper at 0.75% per year. On volatility, DPST has been the lower-risk option at 17.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DPST or TSMG?

Over the 1-year period, TSMG has performed better with a 297.71% return vs 37.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DPST or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 0.99% for DPST.

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

TSMG has the higher dividend yield at 6.17%, compared with 2.01% for DPST.

What is the main difference between DPST and TSMG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.99% for DPST and 0.75% for TSMG.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (4.18 vs 0.55), 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.