MVV vs. TSMG

Last updated Apr 3, 2026

Compare and contrast key facts about ProShares Ultra Midcap 400 (MVV) and Leverage Shares 2X Long TSM Daily ETF (TSMG).

MVV and TSMG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MVV is a passively managed fund by ProShares that tracks the performance of the S&P MidCap 400 Index (200%). It was launched on Jun 21, 2006. TSMG is an actively managed fund by Leverage Shares. It was launched on Jan 14, 2025.

Performance

MVV vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Midcap 400 (MVV) and Leverage Shares 2X Long TSM Daily ETF (TSMG). The values are adjusted to include any dividend payments, if applicable.

MVV vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
MVV ProShares Ultra Midcap 400	4.75%	1.01%
TSMG Leverage Shares 2X Long TSM Daily ETF	16.16%	76.34%

Returns By Period

In the year-to-date period, MVV achieves a 4.75% return, which is significantly lower than TSMG's 16.16% return.

MVV

• 1D: 0.00%
• 1M: -7.88%
• YTD: 4.75%
• 6M: 5.02%
• 1Y: 20.74%
• 3Y*: 14.21%
• 5Y*: 3.91%
• 10Y*: 12.52%

TSMG

• 1D: -2.27%
• 1M: -10.54%
• YTD: 16.16%
• 6M: 22.55%
• 1Y: 210.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVV vs. TSMG - Expense Ratio Comparison

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

MVV

ProShares Ultra Midcap 400

TSMG

Leverage Shares 2X Long TSM Daily ETF

Return for Risk

MVV vs. TSMG — Risk / Return Rank

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

MVV

MVV Risk / Return Rank: 29
MVV Sharpe Ratio Rank: 25
MVV Sortino Ratio Rank: 31
MVV Omega Ratio Rank: 30
MVV Calmar Ratio Rank: 30
MVV Martin Ratio Rank: 32

TSMG

TSMG Risk / Return Rank: 94
TSMG Sharpe Ratio Rank: 96
TSMG Sortino Ratio Rank: 93
TSMG Omega Ratio Rank: 87
TSMG Calmar Ratio Rank: 98
TSMG Martin Ratio Rank: 96

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.

MVV vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Midcap 400 (MVV) 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.

	MVV	TSMG	Difference
Sharpe ratio Return per unit of total volatility	0.48	2.75	-2.27
Sortino ratio Return per unit of downside risk	0.98	2.96	-1.98
Omega ratio Gain probability vs. loss probability	1.13	1.37	-0.24
Calmar ratio Return relative to maximum drawdown	0.92	6.17	-5.26
Martin ratio Return relative to average drawdown	3.51	18.89	-15.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVV vs. TSMG - Sharpe Ratio Comparison

The current MVV Sharpe Ratio is 0.48, which is lower than the TSMG Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of MVV 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

	MVV	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	2.75	-2.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.00	-0.76

Correlation

The correlation between MVV and TSMG is 0.53, 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

MVV vs. TSMG - Dividend Comparison

MVV's dividend yield for the trailing twelve months is around 0.81%, less than TSMG's 9.89% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MVV ProShares Ultra Midcap 400	0.81%	0.77%	0.39%	0.77%	0.93%	0.16%	0.29%	0.62%	0.62%	0.21%	0.43%	0.17%
TSMG Leverage Shares 2X Long TSM Daily ETF	9.89%	11.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

MVV vs. TSMG - Drawdown Comparison

The maximum MVV drawdown since its inception was -85.54%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for MVV and TSMG.

Drawdown Indicators

	MVV	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-85.54%	-63.67%	-21.87%
Max Drawdown (1Y) Largest decline over 1 year	-17.68%	-35.29%	+17.61%
Max Drawdown (5Y) Largest decline over 5 years	-45.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.19%	—	—
Current Drawdown Current decline from peak	-11.34%	-26.32%	+14.98%
Average Drawdown Average peak-to-trough decline	-20.70%	-18.27%	-2.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.00%	11.53%	-4.53%

Volatility

MVV vs. TSMG - Volatility Comparison

The current volatility for ProShares Ultra Midcap 400 (MVV) is 12.98%, while Leverage Shares 2X Long TSM Daily ETF (TSMG) has a volatility of 27.87%. This indicates that MVV 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

	MVV	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.98%	27.87%	-14.89%
Volatility (6M) Calculated over the trailing 6-month period	24.01%	54.35%	-30.34%
Volatility (1Y) Calculated over the trailing 1-year period	43.29%	77.05%	-33.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.64%	81.13%	-41.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.31%	81.13%	-38.82%