EVAV vs. TSMX

Last updated Jun 4, 2026

EVAV (Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares) and TSMX (Direxion Daily TSM Bull 2X Shares) are both Leveraged Equities funds from Direxion. EVAV is passively managed, while TSMX is actively managed. At a 0.32 correlation, their price movements are largely independent. EVAV charges 0.98%/yr vs 1.05%/yr for TSMX.

Performance

EVAV vs. TSMX - Performance Comparison

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

Returns By Period

EVAV

• 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)

EVAV vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.00%	33.87%	2.26%
TSMX Direxion Daily TSM Bull 2X Shares	85.80%	81.48%	14.76%

Correlation

The correlation between EVAV and TSMX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	0.32

EVAV vs. TSMX - Sectors Allocation Comparison

Sectors	EVAV	TSMX
Consumer Cyclical	22.3%	-
Technology	2.7%	100.0%
Industrials	2.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

EVAV 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.

EVAV vs. TSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) 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

	EVAV	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

	EVAV	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

	EVAV	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%	—

EVAV vs. TSMX - Expense Ratio Comparison

EVAV has a 0.98% expense ratio, which is lower than TSMX's 1.05% expense ratio.

Dividends

EVAV vs. TSMX - Dividend Comparison

EVAV's dividend yield for the trailing twelve months is around 0.81%, less than TSMX's 4.44% yield.

Position	TTM	2025	2024	2023	2022
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.81%	0.97%	2.52%	2.34%	0.51%
TSMX Direxion Daily TSM Bull 2X Shares	4.44%	8.01%	0.53%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVAV and TSMX in my portfolio?

EVAV and TSMX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVAV or TSMX?

On fees, EVAV is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVAV or TSMX?

EVAV is cheaper with a 0.98% expense ratio, compared with 1.05% for TSMX.

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

TSMX has the higher dividend yield at 4.44%, compared with 0.81% for EVAV.

What is the main difference between EVAV and TSMX?

Their fees differ too: 0.98% for EVAV and 1.05% for TSMX.