QPUX vs. TSMG

Last updated Apr 2, 2026

Compare and contrast key facts about Defiance 2X Daily Long Pure Quantum ETF (QPUX) and Leverage Shares 2X Long TSM Daily ETF (TSMG).

QPUX and TSMG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QPUX is an actively managed fund by Defiance. It was launched on Aug 6, 2025. TSMG is an actively managed fund by Leverage Shares. It was launched on Jan 14, 2025.

Performance

QPUX vs. TSMG - Performance Comparison

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

QPUX vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
QPUX Defiance 2X Daily Long Pure Quantum ETF	-70.94%	-15.90%
TSMG Leverage Shares 2X Long TSM Daily ETF	18.85%	46.56%

Returns By Period

In the year-to-date period, QPUX achieves a -70.94% return, which is significantly lower than TSMG's 18.85% return.

QPUX

• 1D: -7.04%
• 1M: -46.61%
• YTD: -70.94%
• 6M: -88.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMG

• 1D: 2.29%
• 1M: -16.16%
• YTD: 18.85%
• 6M: 24.81%
• 1Y: 225.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QPUX vs. TSMG - Expense Ratio Comparison

QPUX has a 1.29% expense ratio, which is higher than TSMG's 0.75% expense ratio.

QPUX

Defiance 2X Daily Long Pure Quantum ETF

TSMG

Leverage Shares 2X Long TSM Daily ETF

Return for Risk

QPUX 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: 95
TSMG Sharpe Ratio Rank: 97
TSMG Sortino Ratio Rank: 94
TSMG Omega Ratio Rank: 89
TSMG Calmar Ratio Rank: 98
TSMG Martin Ratio Rank: 97

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.

QPUX vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance 2X Daily Long Pure Quantum ETF (QPUX) 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

	QPUX	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.94	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	1.04	-1.52

Correlation

The correlation between QPUX and TSMG is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

QPUX vs. TSMG - Dividend Comparison

QPUX has not paid dividends to shareholders, while TSMG's dividend yield for the trailing twelve months is around 9.66%.

	TTM	2025
QPUX Defiance 2X Daily Long Pure Quantum ETF	0.00%	0.00%
TSMG Leverage Shares 2X Long TSM Daily ETF	9.66%	11.48%

Drawdowns

QPUX vs. TSMG - Drawdown Comparison

The maximum QPUX drawdown since its inception was -94.73%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for QPUX and TSMG.

Drawdown Indicators

	QPUX	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-94.73%	-63.67%	-31.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.29%	—
Current Drawdown Current decline from peak	-94.24%	-24.61%	-69.63%
Average Drawdown Average peak-to-trough decline	-57.15%	-18.24%	-38.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.41%	—

Volatility

Volatility by Period

	QPUX	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	28.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	54.68%	—
Volatility (1Y) Calculated over the trailing 1-year period	186.00%	77.04%	+108.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	186.00%	81.23%	+104.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	186.00%	81.23%	+104.77%