METU vs. TSMX

Last updated Jun 4, 2026

METU (Direxion Daily META Bull 2X ETF) and TSMX (Direxion Daily TSM Bull 2X Shares) are both Leveraged Equities funds from Direxion. Both are actively managed. Over the past year, METU returned -30.67% vs 295.18% for TSMX. At a 0.42 correlation, their price movements are largely independent. METU charges 1.07%/yr vs 1.05%/yr for TSMX.

Performance

METU vs. TSMX - Performance Comparison

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

Returns By Period

In the year-to-date period, METU achieves a -20.23% return, which is significantly lower than TSMX's 85.80% return.

METU

• 1D: 8.31%
• 1M: 2.33%
• YTD: -20.23%
• 6M: -15.96%
• 1Y: -30.67%
• 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)

METU vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
METU Direxion Daily META Bull 2X ETF	-20.23%	-1.01%	-3.16%
TSMX Direxion Daily TSM Bull 2X Shares	85.80%	81.48%	14.76%

Correlation

The correlation between METU and TSMX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	0.42

The correlation between METU and TSMX shifts across timeframes, from 0.31 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.

METU vs. TSMX - Sectors Allocation Comparison

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

Return for Risk

METU vs. TSMX — Risk / Return Rank

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

METU

METU Risk / Return Rank: 5
METU Sharpe Ratio Rank: 5
METU Sortino Ratio Rank: 6
METU Omega Ratio Rank: 6
METU Calmar Ratio Rank: 4
METU Martin Ratio Rank: 4

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.

METU vs. TSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily META Bull 2X ETF (METU) 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.

	METU	TSMX	Difference
Sharpe ratio Return per unit of total volatility	-0.44	4.15	-4.59
Sortino ratio Return per unit of downside risk	-0.24	3.78	-4.03
Omega ratio Gain probability vs. loss probability	0.97	1.45	-0.49
Calmar ratio Return relative to maximum drawdown	-0.50	8.51	-9.01
Martin ratio Return relative to average drawdown	-0.92	27.80	-28.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

METU vs. TSMX - Sharpe Ratio Comparison

The current METU Sharpe Ratio is -0.44, which is lower than the TSMX Sharpe Ratio of 4.15. The chart below compares the historical Sharpe Ratios of METU and TSMX, 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

	METU	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.44	4.15	-4.59
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	1.57	-1.58

Drawdowns

METU vs. TSMX - Drawdown Comparison

The maximum METU drawdown since its inception was -61.85%, roughly equal to the maximum TSMX drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for METU and TSMX.

Drawdown Indicators

	METU	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-61.85%	-63.80%	+1.95%
Max Drawdown (1Y) Largest decline over 1 year	-61.52%	-34.93%	-26.59%
Current Drawdown Current decline from peak	-49.01%	-4.27%	-44.74%
Average Drawdown Average peak-to-trough decline	-23.55%	-15.85%	-7.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.23%	10.68%	+22.55%

Volatility

METU vs. TSMX - Volatility Comparison

The current volatility for Direxion Daily META Bull 2X ETF (METU) is 17.56%, while Direxion Daily TSM Bull 2X Shares (TSMX) has a volatility of 22.91%. This indicates that METU 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

	METU	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.56%	22.91%	-5.35%
Volatility (6M) Calculated over the trailing 6-month period	53.29%	54.45%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	70.38%	71.63%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.35%	80.93%	-8.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.35%	80.93%	-8.58%

METU vs. TSMX - Expense Ratio Comparison

METU has a 1.07% expense ratio, which is higher than TSMX's 1.05% expense ratio.

Dividends

METU vs. TSMX - Dividend Comparison

METU's dividend yield for the trailing twelve months is around 3.87%, less than TSMX's 4.44% yield.

Position	TTM	2025	2024
METU Direxion Daily META Bull 2X ETF	3.87%	3.00%	1.40%
TSMX Direxion Daily TSM Bull 2X Shares	4.44%	8.01%	0.53%

Frequently Asked Questions

Can I hold both METU and TSMX in my portfolio?

METU and TSMX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, METU or TSMX?

TSMX has higher volatility (22.91%) compared to METU (17.56%). In terms of maximum drawdown, METU dropped -61.85% vs TSMX's -63.80%.

Which ETF is better, METU or TSMX?

On 1-year performance, TSMX leads with 295.18% vs -30.67% for METU. On fees, TSMX is cheaper at 1.05% per year. On volatility, METU has been the lower-risk option at 17.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, METU or TSMX?

Over the 1-year period, TSMX has performed better with a 295.18% return vs -30.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, METU or TSMX?

TSMX is cheaper with a 1.05% expense ratio, compared with 1.07% for METU.

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

TSMX has the higher dividend yield at 4.44%, compared with 3.87% for METU.

What is the main difference between METU and TSMX?

Their fees differ too: 1.07% for METU and 1.05% for TSMX.

Which has better risk-adjusted returns?

TSMX currently has the higher Sharpe Ratio (4.15 vs -0.44), 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.