FCXG vs. STSM

Last updated Aug 1, 2026

FCXG (Leverage Shares 2X Long FCX Daily ETF) and STSM (Defiance Daily Target 2X Short TSM ETF) are both Leveraged Equities funds - FCXG tracks the Freeport-McMoRan Inc. (FCX) while STSM tracks the Taiwan Semiconductor Manufacturing Company Limited (TSM). Both are passively managed. Their -0.55 correlation means they have often moved in opposite directions in the past. FCXG charges 0.75%/yr vs 1.31%/yr for STSM.

Performance

FCXG vs. STSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long FCX Daily ETF (FCXG) and Defiance Daily Target 2X Short TSM ETF (STSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FCXG

• 1D: -2.84%
• 1M: 3.11%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

STSM

• 1D: -0.47%
• 1M: 8.78%
• 6M: -52.57%
• YTD: -61.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCXG Leverage Shares 2X Long FCX Daily ETF	$223.64K	$203.00K	$533.52K
STSM Defiance Daily Target 2X Short TSM ETF	$428.66K	$606.21K	$402.88K

FCXG vs. STSM - Yearly Performance Comparison

	2026 (YTD)
FCXG Leverage Shares 2X Long FCX Daily ETF	-14.53%
STSM Defiance Daily Target 2X Short TSM ETF	-41.73%

Correlation

The correlation between FCXG and STSM is -0.55, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026	-0.55

Return for Risk

FCXG vs. STSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long FCX Daily ETF (FCXG) and Defiance Daily Target 2X Short TSM ETF (STSM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

FCXG vs. STSM - Drawdown Comparison

The maximum FCXG drawdown since its inception was -44.55%, smaller than the maximum STSM drawdown of -76.23%. Use the drawdown chart below to compare losses from any high point for FCXG and STSM.

Drawdown Indicators

	FCXG	STSM	Difference
Max Drawdown Largest peak-to-trough decline	-44.55%	-76.23%	+31.68%
Current Drawdown Current decline from peak	-31.19%	-69.22%	+38.03%
Average Drawdown Average peak-to-trough decline	-23.43%	-47.42%	+23.99%

Volatility

Volatility by Period

	FCXG	STSM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	107.68%	85.61%	+22.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.68%	85.61%	+22.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.68%	85.61%	+22.07%

FCXG vs. STSM - Expense Ratio Comparison

FCXG has a 0.75% expense ratio, which is lower than STSM's 1.31% expense ratio.

Dividends

FCXG vs. STSM - Dividend Comparison

Neither FCXG nor STSM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FCXG and STSM in my portfolio?

FCXG and STSM have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCXG or STSM?

On fees, FCXG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCXG or STSM?

FCXG is cheaper with a 0.75% expense ratio, compared with 1.31% for STSM.

Which ETF pays a higher dividend yield, FCXG or STSM?

FCXG and STSM have nearly identical dividend yields, around 0.00%.

What is the main difference between FCXG and STSM?

FCXG tracks Freeport-McMoRan Inc. (FCX), while STSM tracks Taiwan Semiconductor Manufacturing Company Limited (TSM). They also come from different issuers: Leverage Shares and Defiance. Their fees differ too: 0.75% for FCXG and 1.31% for STSM.