MSFU vs. TSMX

Last updated Jun 3, 2026

MSFU (Direxion Daily MSFT Bull 2X Shares) and TSMX (Direxion Daily TSM Bull 2X Shares) are both Leveraged Equities funds from Direxion. MSFU is passively managed, while TSMX is actively managed. Over the past year, MSFU returned -21.45% vs 324.82% for TSMX. At a 0.37 correlation, their price movements are largely independent. MSFU charges 1.04%/yr vs 1.05%/yr for TSMX.

Performance

MSFU vs. TSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSFT Bull 2X Shares (MSFU) 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, MSFU achieves a -22.90% return, which is significantly lower than TSMX's 94.10% return.

MSFU

• 1D: -8.36%
• 1M: 12.13%
• YTD: -22.90%
• 6M: -25.88%
• 1Y: -21.45%
• 3Y*: 1.80%
• 5Y*: —
• 10Y*: —

TSMX

• 1D: 4.81%
• 1M: 23.50%
• YTD: 94.10%
• 6M: 108.35%
• 1Y: 324.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFU vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFU Direxion Daily MSFT Bull 2X Shares	-22.90%	13.36%	-0.85%
TSMX Direxion Daily TSM Bull 2X Shares	94.10%	81.48%	14.76%

Correlation

The correlation between MSFU and TSMX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	0.37

The correlation between MSFU and TSMX shifts across timeframes, from 0.25 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

MSFU vs. TSMX - Sectors Allocation Comparison

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

Return for Risk

MSFU vs. TSMX — Risk / Return Rank

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

MSFU

MSFU Risk / Return Rank: 5
MSFU Sharpe Ratio Rank: 5
MSFU Sortino Ratio Rank: 5
MSFU Omega Ratio Rank: 5
MSFU Calmar Ratio Rank: 5
MSFU Martin Ratio Rank: 5

TSMX

TSMX Risk / Return Rank: 91
TSMX Sharpe Ratio Rank: 97
TSMX Sortino Ratio Rank: 87
TSMX Omega Ratio Rank: 79
TSMX Calmar Ratio Rank: 96
TSMX Martin Ratio Rank: 95

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.

MSFU vs. TSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bull 2X Shares (MSFU) 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.

	MSFU	TSMX	Difference
Sharpe ratio Return per unit of total volatility	-0.43	4.58	-5.01
Sortino ratio Return per unit of downside risk	-0.30	3.97	-4.27
Omega ratio Gain probability vs. loss probability	0.96	1.48	-0.52
Calmar ratio Return relative to maximum drawdown	-0.35	9.49	-9.84
Martin ratio Return relative to average drawdown	-0.67	31.06	-31.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSFU vs. TSMX - Sharpe Ratio Comparison

The current MSFU Sharpe Ratio is -0.43, which is lower than the TSMX Sharpe Ratio of 4.58. The chart below compares the historical Sharpe Ratios of MSFU 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

	MSFU	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.43	4.58	-5.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.65	-1.42

Drawdowns

MSFU vs. TSMX - Drawdown Comparison

The maximum MSFU drawdown since its inception was -59.83%, smaller than the maximum TSMX drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for MSFU and TSMX.

Drawdown Indicators

	MSFU	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-59.83%	-63.80%	+3.97%
Max Drawdown (1Y) Largest decline over 1 year	-59.83%	-34.93%	-24.90%
Max Drawdown (3Y) Largest decline over 3 years	-59.83%	—	—
Current Drawdown Current decline from peak	-40.32%	0.00%	-40.32%
Average Drawdown Average peak-to-trough decline	-16.48%	-15.88%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.83%	10.67%	+20.16%

Volatility

MSFU vs. TSMX - Volatility Comparison

The current volatility for Direxion Daily MSFT Bull 2X Shares (MSFU) is 18.49%, while Direxion Daily TSM Bull 2X Shares (TSMX) has a volatility of 22.31%. This indicates that MSFU 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

	MSFU	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.49%	22.31%	-3.82%
Volatility (6M) Calculated over the trailing 6-month period	44.94%	54.31%	-9.37%
Volatility (1Y) Calculated over the trailing 1-year period	49.77%	71.46%	-21.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.23%	80.94%	-34.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.23%	80.94%	-34.71%

MSFU vs. TSMX - Expense Ratio Comparison

MSFU has a 1.04% expense ratio, which is lower than TSMX's 1.05% expense ratio.

Dividends

MSFU vs. TSMX - Dividend Comparison

MSFU's dividend yield for the trailing twelve months is around 10.26%, more than TSMX's 4.25% yield.

Position	TTM	2025	2024	2023	2022
MSFU Direxion Daily MSFT Bull 2X Shares	10.26%	8.15%	7.00%	2.11%	0.54%
TSMX Direxion Daily TSM Bull 2X Shares	4.25%	8.01%	0.53%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSFU and TSMX in my portfolio?

MSFU and TSMX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFU or TSMX?

TSMX has higher volatility (22.31%) compared to MSFU (18.49%). In terms of maximum drawdown, MSFU dropped -59.83% vs TSMX's -63.80%.

Which ETF is better, MSFU or TSMX?

On 1-year performance, TSMX leads with 324.82% vs -21.45% for MSFU. On fees, MSFU is cheaper at 1.04% per year. On volatility, MSFU has been the lower-risk option at 18.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFU or TSMX?

Over the 1-year period, TSMX has performed better with a 324.82% return vs -21.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFU or TSMX?

MSFU is cheaper with a 1.04% expense ratio, compared with 1.05% for TSMX.

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

MSFU has the higher dividend yield at 10.26%, compared with 4.25% for TSMX.

What is the main difference between MSFU and TSMX?

Their fees differ too: 1.04% for MSFU and 1.05% for TSMX.

Which has better risk-adjusted returns?

TSMX currently has the higher Sharpe Ratio (4.58 vs -0.43), 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.