QCML vs. ASMG

Last updated Jul 12, 2026

QCML (GraniteShares 2x Long QCOM Daily ETF) and ASMG (Leverage Shares 2X Long ASML Daily ETF) are both Leveraged Equities funds. QCML is passively managed, while ASMG is actively managed. Over the past year, QCML returned 5.77% vs 266.88% for ASMG. A 0.52 correlation means they provide meaningful diversification when combined. QCML charges 1.50%/yr vs 0.75%/yr for ASMG.

Performance

QCML vs. ASMG - Performance Comparison

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

Returns By Period

In the year-to-date period, QCML achieves a -3.62% return, which is significantly lower than ASMG's 131.65% return.

QCML

• 1D: -2.33%
• 1M: -23.29%
• 6M: -10.47%
• YTD: -3.62%
• 1Y: 5.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASMG

• 1D: -0.98%
• 1M: -10.42%
• 6M: 66.50%
• YTD: 131.65%
• 1Y: 266.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCML vs. ASMG - Yearly Performance Comparison

	2026 (YTD)	2025
QCML GraniteShares 2x Long QCOM Daily ETF	-3.62%	-16.71%
ASMG Leverage Shares 2X Long ASML Daily ETF	131.65%	58.08%

Correlation

The correlation between QCML and ASMG is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.52

The correlation between QCML and ASMG has been stable across timeframes, ranging from 0.46 to 0.52 - a consistent structural relationship.

Return for Risk

QCML vs. ASMG — Risk / Return Rank

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

QCML

QCML Risk / Return Rank: 14
QCML Sharpe Ratio Rank: 10
QCML Sortino Ratio Rank: 19
QCML Omega Ratio Rank: 20
QCML Calmar Ratio Rank: 10
QCML Martin Ratio Rank: 10

ASMG

ASMG Risk / Return Rank: 89
ASMG Sharpe Ratio Rank: 95
ASMG Sortino Ratio Rank: 83
ASMG Omega Ratio Rank: 77
ASMG Calmar Ratio Rank: 96
ASMG Martin Ratio Rank: 93

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.

QCML vs. ASMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long QCOM Daily ETF (QCML) and Leverage Shares 2X Long ASML Daily ETF (ASMG). 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.

	QCML	ASMG	Difference
Sharpe ratio: Return per unit of total volatility	0.04	2.94	-2.90
Sortino ratio: Return per unit of downside risk	0.84	2.94	-2.10
Omega ratio: Gain probability vs. loss probability	1.11	1.36	-0.25
Calmar ratio: Return relative to maximum drawdown	0.07	7.74	-7.68
Martin ratio: Return relative to average drawdown	0.13	18.61	-18.48

QCML vs. ASMG - Sharpe Ratio Comparison

The current QCML Sharpe Ratio is 0.04, which is lower than the ASMG Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of QCML and ASMG, 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

QCML vs. ASMG - Drawdown Comparison

The maximum QCML drawdown since its inception was -59.13%, which is greater than ASMG's maximum drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for QCML and ASMG.

Drawdown Indicators

	QCML	ASMG	Difference
Max Drawdown Largest peak-to-trough decline	-59.13%	-43.95%	-15.18%
Max Drawdown (1Y) Largest decline over 1 year	-58.72%	-34.56%	-24.16%
Current Drawdown Current decline from peak	-47.72%	-19.75%	-27.97%
Average Drawdown Average peak-to-trough decline	-29.60%	-13.00%	-16.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.51%	14.35%	+16.16%

Volatility

QCML vs. ASMG - Volatility Comparison

GraniteShares 2x Long QCOM Daily ETF (QCML) and Leverage Shares 2X Long ASML Daily ETF (ASMG) have volatilities of 41.35% and 40.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCML	ASMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.35%	40.56%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	91.73%	73.36%	+18.37%
Volatility (1Y) Calculated over the trailing 1-year period	103.59%	90.98%	+12.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	100.33%	89.16%	+11.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	100.33%	89.16%	+11.17%

QCML vs. ASMG - Expense Ratio Comparison

QCML has a 1.50% expense ratio, which is higher than ASMG's 0.75% expense ratio.

Dividends

QCML vs. ASMG - Dividend Comparison

QCML has not paid dividends to shareholders, while ASMG's dividend yield for the trailing twelve months is around 4.84%.

Position	TTM	2025
ASMG Leverage Shares 2X Long ASML Daily ETF	4.84%	11.20%
QCML GraniteShares 2x Long QCOM Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both QCML and ASMG in my portfolio?

QCML and ASMG have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QCML or ASMG?

QCML has higher volatility (41.35%) compared to ASMG (40.56%). In terms of maximum drawdown, QCML dropped -59.13% vs ASMG's -43.95%.

Which ETF is better, QCML or ASMG?

On 1-year performance, ASMG leads with 266.88% vs 5.77% for QCML. On fees, ASMG is cheaper at 0.75% per year. On volatility, ASMG has been the lower-risk option at 40.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QCML or ASMG?

Over the 1-year period, ASMG has performed better with a 266.88% return vs 5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCML or ASMG?

ASMG is cheaper with a 0.75% expense ratio, compared with 1.50% for QCML.

Which ETF pays a higher dividend yield, QCML or ASMG?

ASMG has the higher dividend yield at 4.84%, compared with 0.00% for QCML.

What is the main difference between QCML and ASMG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for QCML and 0.75% for ASMG.

Which has better risk-adjusted returns?

ASMG currently has the higher Sharpe Ratio (2.94 vs 0.04), 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.