NVDO vs. TSMG

Last updated Jun 4, 2026

NVDO (Leverage Shares 2x Capped Accelerated NVDA Monthly ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both exchange-traded funds - NVDO is a Defined Outcome fund actively managed by Leverage Shares, while TSMG is a Leveraged Equities fund actively managed by Leverage Shares. Both are actively managed. A 0.54 correlation means they provide meaningful diversification when combined. NVDO charges 0.77%/yr vs 0.75%/yr for TSMG.

Performance

NVDO vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO) 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, NVDO achieves a 18.85% return, which is significantly lower than TSMG's 86.06% return.

NVDO

• 1D: -2.46%
• 1M: 14.15%
• YTD: 18.85%
• 6M: 29.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMG

• 1D: -4.26%
• 1M: 15.77%
• YTD: 86.06%
• 6M: 95.35%
• 1Y: 297.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDO vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	18.85%	11.12%
TSMG Leverage Shares 2X Long TSM Daily ETF	86.06%	46.96%

Correlation

The correlation between NVDO and TSMG is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 14, 2025	0.54

Return for Risk

NVDO vs. TSMG — Risk / Return Rank

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

TSMG

TSMG Risk / Return Rank: 89
TSMG Sharpe Ratio Rank: 96
TSMG Sortino Ratio Rank: 83
TSMG Omega Ratio Rank: 76
TSMG Calmar Ratio Rank: 95
TSMG 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.

NVDO vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Capped Accelerated NVDA Monthly ETF (NVDO) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	NVDO	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	1.69	-0.39

Drawdowns

NVDO vs. TSMG - Drawdown Comparison

The maximum NVDO drawdown since its inception was -16.25%, smaller than the maximum TSMG drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for NVDO and TSMG.

Drawdown Indicators

	NVDO	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-16.25%	-63.67%	+47.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.29%	—
Current Drawdown Current decline from peak	-2.68%	-4.26%	+1.58%
Average Drawdown Average peak-to-trough decline	-4.99%	-16.98%	+11.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.79%	—

Volatility

Volatility by Period

	NVDO	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	23.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	55.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	31.93%	71.74%	-39.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.93%	81.06%	-49.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.93%	81.06%	-49.13%

NVDO vs. TSMG - Expense Ratio Comparison

NVDO has a 0.77% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

NVDO vs. TSMG - Dividend Comparison

NVDO's dividend yield for the trailing twelve months is around 14.02%, more than TSMG's 6.17% yield.

Position	TTM	2025
NVDO Leverage Shares 2x Capped Accelerated NVDA Monthly ETF	14.02%	16.66%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.17%	11.48%

Frequently Asked Questions

Can I hold both NVDO and TSMG in my portfolio?

NVDO and TSMG have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVDO or TSMG?

On fees, TSMG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVDO or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 0.77% for NVDO.

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

NVDO has the higher dividend yield at 14.02%, compared with 6.17% for TSMG.

What is the main difference between NVDO and TSMG?

NVDO is categorized as Defined Outcome, while TSMG is Leveraged Equities. Their fees differ too: 0.77% for NVDO and 0.75% for TSMG.