MSFL vs. TSMG

Last updated Apr 1, 2026

Compare and contrast key facts about GraniteShares 2x Long MSFT Daily ETF (MSFL) and Leverage Shares 2X Long TSM Daily ETF (TSMG).

MSFL and TSMG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSFL is an actively managed fund by GraniteShares. It was launched on Mar 15, 2024. TSMG is an actively managed fund by Leverage Shares. It was launched on Jan 14, 2025.

Performance

MSFL vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MSFT Daily ETF (MSFL) and Leverage Shares 2X Long TSM Daily ETF (TSMG). The values are adjusted to include any dividend payments, if applicable.

MSFL vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
MSFL GraniteShares 2x Long MSFT Daily ETF	-43.95%	20.51%
TSMG Leverage Shares 2X Long TSM Daily ETF	16.19%	76.34%

Returns By Period

In the year-to-date period, MSFL achieves a -43.95% return, which is significantly lower than TSMG's 16.19% return.

MSFL

• 1D: 6.35%
• 1M: -12.11%
• YTD: -43.95%
• 6M: -52.20%
• 1Y: -14.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMG

• 1D: 13.90%
• 1M: -20.55%
• YTD: 16.19%
• 6M: 30.36%
• 1Y: 227.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFL vs. TSMG - Expense Ratio Comparison

MSFL has a 1.15% expense ratio, which is higher than TSMG's 0.75% expense ratio.

MSFL

GraniteShares 2x Long MSFT Daily ETF

TSMG

Leverage Shares 2X Long TSM Daily ETF

Return for Risk

MSFL vs. TSMG — Risk / Return Rank

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

MSFL

MSFL Risk / Return Rank: 8
MSFL Sharpe Ratio Rank: 7
MSFL Sortino Ratio Rank: 9
MSFL Omega Ratio Rank: 9
MSFL Calmar Ratio Rank: 8
MSFL Martin Ratio Rank: 7

TSMG

TSMG Risk / Return Rank: 96
TSMG Sharpe Ratio Rank: 97
TSMG Sortino Ratio Rank: 95
TSMG Omega Ratio Rank: 91
TSMG Calmar Ratio Rank: 98
TSMG 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.

MSFL vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSFT Daily ETF (MSFL) 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.

	MSFL	TSMG	Difference
Sharpe ratio Return per unit of total volatility	-0.27	2.98	-3.25
Sortino ratio Return per unit of downside risk	-0.04	3.08	-3.12
Omega ratio Gain probability vs. loss probability	0.99	1.39	-0.39
Calmar ratio Return relative to maximum drawdown	-0.27	6.44	-6.71
Martin ratio Return relative to average drawdown	-0.69	20.11	-20.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSFL vs. TSMG - Sharpe Ratio Comparison

The current MSFL Sharpe Ratio is -0.27, which is lower than the TSMG Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of MSFL and TSMG, 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

	MSFL	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.27	2.98	-3.25
Sharpe Ratio (All Time) Calculated using the full available price history	-0.47	1.00	-1.48

Correlation

The correlation between MSFL and TSMG is 0.43, 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

MSFL vs. TSMG - Dividend Comparison

MSFL has not paid dividends to shareholders, while TSMG's dividend yield for the trailing twelve months is around 9.88%.

	TTM	2025
MSFL GraniteShares 2x Long MSFT Daily ETF	0.00%	0.00%
TSMG Leverage Shares 2X Long TSM Daily ETF	9.88%	11.48%

Drawdowns

MSFL vs. TSMG - Drawdown Comparison

The maximum MSFL drawdown since its inception was -59.39%, smaller than the maximum TSMG drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for MSFL and TSMG.

Drawdown Indicators

	MSFL	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-59.39%	-63.67%	+4.28%
Max Drawdown (1Y) Largest decline over 1 year	-59.39%	-35.29%	-24.10%
Current Drawdown Current decline from peak	-56.32%	-26.30%	-30.02%
Average Drawdown Average peak-to-trough decline	-19.41%	-18.22%	-1.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.60%	11.30%	+12.30%

Volatility

MSFL vs. TSMG - Volatility Comparison

The current volatility for GraniteShares 2x Long MSFT Daily ETF (MSFL) is 13.12%, while Leverage Shares 2X Long TSM Daily ETF (TSMG) has a volatility of 29.05%. This indicates that MSFL experiences smaller price fluctuations and is considered to be less risky than TSMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFL	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.12%	29.05%	-15.93%
Volatility (6M) Calculated over the trailing 6-month period	39.15%	54.76%	-15.61%
Volatility (1Y) Calculated over the trailing 1-year period	52.83%	77.02%	-24.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.91%	81.35%	-33.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.91%	81.35%	-33.44%