FNGG vs. TSMX

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) and Direxion Daily TSM Bull 2X Shares (TSMX).

FNGG and TSMX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNGG is a passively managed fund by Direxion that tracks the performance of the NYSE FANG+ Index (2x Leveraged). It was launched on Sep 30, 2021. TSMX is an actively managed fund by Direxion. It was launched on Oct 3, 2024.

Performance

FNGG vs. TSMX - Performance Comparison

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

FNGG vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	-25.51%	27.21%	29.72%
TSMX Direxion Daily TSM Bull 2X Shares	16.15%	81.48%	14.76%

Returns By Period

In the year-to-date period, FNGG achieves a -25.51% return, which is significantly lower than TSMX's 16.15% return.

FNGG

• 1D: 9.29%
• 1M: -9.53%
• YTD: -25.51%
• 6M: -30.33%
• 1Y: 27.54%
• 3Y*: 50.64%
• 5Y*: —
• 10Y*: —

TSMX

• 1D: 13.81%
• 1M: -20.58%
• YTD: 16.15%
• 6M: 30.27%
• 1Y: 227.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNGG vs. TSMX - Expense Ratio Comparison

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

TSMX

Direxion Daily TSM Bull 2X Shares

FNGG

Direxion Daily NYSE FANG+ Bull 2X Shares

Return for Risk

FNGG vs. TSMX — Risk / Return Rank

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

FNGG

FNGG Risk / Return Rank: 33
FNGG Sharpe Ratio Rank: 30
FNGG Sortino Ratio Rank: 43
FNGG Omega Ratio Rank: 39
FNGG Calmar Ratio Rank: 28
FNGG Martin Ratio Rank: 25

TSMX

TSMX Risk / Return Rank: 96
TSMX Sharpe Ratio Rank: 97
TSMX Sortino Ratio Rank: 95
TSMX Omega Ratio Rank: 91
TSMX Calmar Ratio Rank: 98
TSMX Martin Ratio Rank: 97

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.

FNGG vs. TSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) 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.

	FNGG	TSMX	Difference
Sharpe ratio Return per unit of total volatility	0.51	2.95	-2.44
Sortino ratio Return per unit of downside risk	1.13	3.08	-1.96
Omega ratio Gain probability vs. loss probability	1.15	1.39	-0.24
Calmar ratio Return relative to maximum drawdown	0.61	6.59	-5.98
Martin ratio Return relative to average drawdown	1.73	20.50	-18.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNGG vs. TSMX - Sharpe Ratio Comparison

The current FNGG Sharpe Ratio is 0.51, which is lower than the TSMX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of FNGG and TSMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FNGG	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	2.95	-2.44
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	1.01	-1.12

Correlation

The correlation between FNGG and TSMX is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FNGG vs. TSMX - Dividend Comparison

FNGG's dividend yield for the trailing twelve months is around 15.91%, more than TSMX's 7.11% yield.

	TTM	2025	2024	2023	2022	2021
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares	15.91%	11.89%	0.79%	0.88%	0.00%	4.99%
TSMX Direxion Daily TSM Bull 2X Shares	7.11%	8.01%	0.53%	0.00%	0.00%	0.00%

Drawdowns

FNGG vs. TSMX - Drawdown Comparison

The maximum FNGG drawdown since its inception was -91.33%, which is greater than TSMX's maximum drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for FNGG and TSMX.

Drawdown Indicators

	FNGG	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-91.33%	-63.80%	-27.53%
Max Drawdown (1Y) Largest decline over 1 year	-43.01%	-34.93%	-8.08%
Current Drawdown Current decline from peak	-44.91%	-25.94%	-18.97%
Average Drawdown Average peak-to-trough decline	-57.36%	-16.74%	-40.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.04%	11.22%	+3.82%

Volatility

FNGG vs. TSMX - Volatility Comparison

The current volatility for Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) is 15.75%, while Direxion Daily TSM Bull 2X Shares (TSMX) has a volatility of 29.06%. This indicates that FNGG experiences smaller price fluctuations and is considered to be less risky than TSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGG	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.75%	29.06%	-13.31%
Volatility (6M) Calculated over the trailing 6-month period	30.35%	54.61%	-24.26%
Volatility (1Y) Calculated over the trailing 1-year period	54.10%	77.49%	-23.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.41%	81.26%	-12.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.41%	81.26%	-12.85%