SHPU vs. TSMG

Last updated Jun 6, 2026

SHPU (Direxion Daily SHOP Bull 2X ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.43 correlation, their price movements are largely independent. SHPU charges 1.09%/yr vs 0.75%/yr for TSMG.

Performance

SHPU vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily SHOP Bull 2X ETF (SHPU) 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, SHPU achieves a -63.82% return, which is significantly lower than TSMG's 65.60% return.

SHPU

• 1D: -11.54%
• 1M: 3.30%
• YTD: -63.82%
• 6M: -63.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMG

• 1D: -13.98%
• 1M: -4.93%
• YTD: 65.60%
• 6M: 74.89%
• 1Y: 233.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHPU vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
SHPU Direxion Daily SHOP Bull 2X ETF	-63.82%	-2.39%
TSMG Leverage Shares 2X Long TSM Daily ETF	65.60%	59.50%

Correlation

The correlation between SHPU and TSMG is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 7, 2025	0.43

Return for Risk

SHPU 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: 84
TSMG Sharpe Ratio Rank: 93
TSMG Sortino Ratio Rank: 75
TSMG Omega Ratio Rank: 69
TSMG Calmar Ratio Rank: 93
TSMG Martin Ratio Rank: 92

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.

SHPU vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily SHOP Bull 2X ETF (SHPU) 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

	SHPU	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.65	1.43	-2.08

Drawdowns

SHPU vs. TSMG - Drawdown Comparison

The maximum SHPU drawdown since its inception was -77.97%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for SHPU and TSMG.

Drawdown Indicators

	SHPU	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-77.97%	-63.67%	-14.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.29%	—
Current Drawdown Current decline from peak	-71.86%	-14.78%	-57.08%
Average Drawdown Average peak-to-trough decline	-37.03%	-16.93%	-20.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.83%	—

Volatility

Volatility by Period

	SHPU	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	24.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	57.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	110.47%	73.11%	+37.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	110.47%	81.80%	+28.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.47%	81.80%	+28.67%

SHPU vs. TSMG - Expense Ratio Comparison

SHPU has a 1.09% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

SHPU vs. TSMG - Dividend Comparison

SHPU's dividend yield for the trailing twelve months is around 56.43%, more than TSMG's 6.93% yield.

Position	TTM	2025
SHPU Direxion Daily SHOP Bull 2X ETF	56.43%	20.05%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.93%	11.48%

Frequently Asked Questions

Can I hold both SHPU and TSMG in my portfolio?

SHPU and TSMG have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SHPU 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, SHPU or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 1.09% for SHPU.

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

SHPU has the higher dividend yield at 56.43%, compared with 6.93% for TSMG.

What is the main difference between SHPU and TSMG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.09% for SHPU and 0.75% for TSMG.