GRAG vs. TSMG

Last updated Jun 4, 2026

GRAG (Leverage Shares 2X Long GRAB Daily ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds from Leverage Shares. Both are actively managed. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

GRAG vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long GRAB Daily ETF (GRAG) 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, GRAG achieves a -58.07% return, which is significantly lower than TSMG's 86.06% return.

GRAG

• 1D: -9.91%
• 1M: -12.45%
• YTD: -58.07%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

GRAG vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
GRAG Leverage Shares 2X Long GRAB Daily ETF	-58.07%	-7.82%
TSMG Leverage Shares 2X Long TSM Daily ETF	86.06%	-1.35%

Correlation

The correlation between GRAG and TSMG is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.37

Return for Risk

GRAG vs. TSMG — Risk / Return Rank

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

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.

GRAG vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long GRAB Daily ETF (GRAG) 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.

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

Sharpe Ratios by Period

	GRAG	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.25	1.69	-2.94

Drawdowns

GRAG vs. TSMG - Drawdown Comparison

The maximum GRAG drawdown since its inception was -62.22%, roughly equal to the maximum TSMG drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for GRAG and TSMG.

Drawdown Indicators

	GRAG	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-62.22%	-63.67%	+1.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.29%	—
Current Drawdown Current decline from peak	-62.22%	-4.26%	-57.96%
Average Drawdown Average peak-to-trough decline	-39.65%	-16.98%	-22.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.79%	—

Volatility

Volatility by Period

	GRAG	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	23.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	55.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	69.83%	71.74%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.83%	81.06%	-11.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.83%	81.06%	-11.23%

GRAG vs. TSMG - Expense Ratio Comparison

Both GRAG and TSMG have an expense ratio of 0.75%.

Dividends

GRAG vs. TSMG - Dividend Comparison

GRAG has not paid dividends to shareholders, while TSMG's dividend yield for the trailing twelve months is around 6.17%.

Position	TTM	2025
GRAG Leverage Shares 2X Long GRAB Daily ETF	0.00%	0.00%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.17%	11.48%

Frequently Asked Questions

Can I hold both GRAG and TSMG in my portfolio?

GRAG and TSMG have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GRAG or TSMG?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GRAG or TSMG?

GRAG and TSMG have the same expense ratio: 0.75% per year.

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

TSMG has the higher dividend yield at 6.17%, compared with 0.00% for GRAG.