MSOX vs. TSMG

Last updated Jun 23, 2026

MSOX (Advisorshares Msos 2x Daily ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, MSOX returned 28.79% vs 295.67% for TSMG. At a 0.23 correlation, their price movements are largely independent. MSOX charges 0.95%/yr vs 0.75%/yr for TSMG.

Performance

MSOX vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Advisorshares Msos 2x Daily ETF (MSOX) 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, MSOX achieves a -34.60% return, which is significantly lower than TSMG's 108.52% return.

MSOX

• 1D: -10.94%
• 1M: 6.55%
• YTD: -34.60%
• 6M: -28.54%
• 1Y: 28.79%
• 3Y*: -64.41%
• 5Y*: —
• 10Y*: —

TSMG

• 1D: 2.19%
• 1M: 30.51%
• YTD: 108.52%
• 6M: 123.61%
• 1Y: 295.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSOX vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
MSOX Advisorshares Msos 2x Daily ETF	-34.60%	-43.07%
TSMG Leverage Shares 2X Long TSM Daily ETF	108.52%	71.03%

Correlation

The correlation between MSOX and TSMG is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.23

Return for Risk

MSOX vs. TSMG — Risk / Return Rank

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

MSOX

MSOX Risk / Return Rank: 22
MSOX Sharpe Ratio Rank: 10
MSOX Sortino Ratio Rank: 40
MSOX Omega Ratio Rank: 36
MSOX Calmar Ratio Rank: 12
MSOX Martin Ratio Rank: 11

TSMG

TSMG Risk / Return Rank: 90
TSMG Sharpe Ratio Rank: 96
TSMG Sortino Ratio Rank: 84
TSMG Omega Ratio Rank: 77
TSMG Calmar Ratio Rank: 96
TSMG 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.

MSOX vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Advisorshares Msos 2x Daily ETF (MSOX) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MSOX	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	0.13	3.95	-3.82
Sortino ratio: Return per unit of downside risk	2.01	3.58	-1.57
Omega ratio: Gain probability vs. loss probability	1.23	1.44	-0.21
Calmar ratio: Return relative to maximum drawdown	0.34	8.44	-8.10
Martin ratio: Return relative to average drawdown	0.51	27.04	-26.53

MSOX vs. TSMG - Sharpe Ratio Comparison

The current MSOX Sharpe Ratio is 0.13, which is lower than the TSMG Sharpe Ratio of 3.95. The chart below compares the historical Sharpe Ratios of MSOX and TSMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MSOX vs. TSMG - Drawdown Comparison

The maximum MSOX drawdown since its inception was -99.75%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for MSOX and TSMG.

Drawdown Indicators

	MSOX	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-99.75%	-63.67%	-36.08%
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	-35.29%	-49.60%
Max Drawdown (3Y) Largest decline over 3 years	-98.83%	—	—
Current Drawdown Current decline from peak	-99.57%	0.00%	-99.57%
Average Drawdown Average peak-to-trough decline	-88.89%	-16.65%	-72.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.94%	10.99%	+45.95%

Volatility

MSOX vs. TSMG - Volatility Comparison

Advisorshares Msos 2x Daily ETF (MSOX) has a higher volatility of 41.52% compared to Leverage Shares 2X Long TSM Daily ETF (TSMG) at 29.04%. This indicates that MSOX's price experiences larger fluctuations and is considered to be riskier than TSMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSOX	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.52%	29.04%	+12.48%
Volatility (6M) Calculated over the trailing 6-month period	132.97%	59.04%	+73.93%
Volatility (1Y) Calculated over the trailing 1-year period	220.88%	75.62%	+145.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	168.12%	82.51%	+85.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	168.12%	82.51%	+85.61%

MSOX vs. TSMG - Expense Ratio Comparison

MSOX has a 0.95% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

MSOX vs. TSMG - Dividend Comparison

MSOX has not paid dividends to shareholders, while TSMG's dividend yield for the trailing twelve months is around 5.51%.

Position	TTM	2025
MSOX Advisorshares Msos 2x Daily ETF	0.00%	0.00%
TSMG Leverage Shares 2X Long TSM Daily ETF	5.51%	11.48%

Frequently Asked Questions

Can I hold both MSOX and TSMG in my portfolio?

MSOX and TSMG have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSOX or TSMG?

MSOX has higher volatility (41.52%) compared to TSMG (29.04%). In terms of maximum drawdown, MSOX dropped -99.75% vs TSMG's -63.67%.

Which ETF is better, MSOX or TSMG?

On 1-year performance, TSMG leads with 295.67% vs 28.79% for MSOX. On fees, TSMG is cheaper at 0.75% per year. On volatility, TSMG has been the lower-risk option at 29.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSOX or TSMG?

Over the 1-year period, TSMG has performed better with a 295.67% return vs 28.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSOX or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 0.95% for MSOX.

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

TSMG has the higher dividend yield at 5.51%, compared with 0.00% for MSOX.

What is the main difference between MSOX and TSMG?

They also come from different issuers: AdvisorShares and Leverage Shares. Their fees differ too: 0.95% for MSOX and 0.75% for TSMG.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (3.95 vs 0.13), 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.