SMUP vs. ASMG

Last updated Aug 1, 2026

SMUP (T-REX 2X Long SMR Daily Target ETF) and ASMG (Leverage Shares 2X Long ASML Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, SMUP returned -98.90% vs 307.23% for ASMG. Their 0.38 correlation means their historical movements had little consistent relationship. SMUP charges 1.50%/yr vs 0.75%/yr for ASMG.

Performance

SMUP vs. ASMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long SMR Daily Target ETF (SMUP) 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, SMUP achieves a -81.65% return, which is significantly lower than ASMG's 86.81% return.

SMUP

• 1D: -4.68%
• 1M: -31.41%
• 6M: -86.68%
• YTD: -81.65%
• 1Y: -98.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -99.09%

ASMG

• 1D: -2.63%
• 1M: -17.29%
• 6M: 9.24%
• YTD: 86.81%
• 1Y: 307.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 105.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASMG Leverage Shares 2X Long ASML Daily ETF	$3.03M	$5.30M	$5.99M
SMUP T-REX 2X Long SMR Daily Target ETF	$628.22K	$794.08K	$1.84M

SMUP vs. ASMG - Yearly Performance Comparison

	2026 (YTD)	2025
SMUP T-REX 2X Long SMR Daily Target ETF	-81.65%	-95.38%
ASMG Leverage Shares 2X Long ASML Daily ETF	86.81%	97.29%

Correlation

The correlation between SMUP and ASMG is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.38

Return for Risk

SMUP vs. ASMG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMUP

SMUP Risk / Return Rank: 2
SMUP Sharpe Ratio Rank: 5
SMUP Sortino Ratio Rank: 1
SMUP Omega Ratio Rank: 1
SMUP Calmar Ratio Rank: 0
SMUP Martin Ratio Rank: 3

ASMG

ASMG Risk / Return Rank: 93
ASMG Sharpe Ratio Rank: 97
ASMG Sortino Ratio Rank: 90
ASMG Omega Ratio Rank: 86
ASMG Calmar Ratio Rank: 97
ASMG Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMUP vs. ASMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long SMR Daily Target ETF (SMUP) 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.

	SMUP	ASMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.49	3.29	-3.78
Sortino ratio: Return per unit of downside risk	-1.95	3.13	-5.08
Omega ratio: Gain probability vs. loss probability	0.80	1.38	-0.57
Calmar ratio: Return relative to maximum drawdown	-1.00	7.35	-8.35
Martin ratio: Return relative to average drawdown	-1.19	22.78	-23.96

SMUP vs. ASMG - Sharpe Ratio Comparison

The current SMUP Sharpe Ratio is -0.49, which is lower than the ASMG Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of SMUP 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

SMUP vs. ASMG - Drawdown Comparison

The maximum SMUP drawdown since its inception was -99.35%, which is greater than ASMG's maximum drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for SMUP and ASMG.

Drawdown Indicators

	SMUP	ASMG	Difference
Max Drawdown Largest peak-to-trough decline	-99.35%	-43.95%	-55.40%
Max Drawdown (1Y) Largest decline over 1 year	-99.23%	-41.10%	-58.13%
Current Drawdown Current decline from peak	-99.21%	-35.29%	-63.92%
Average Drawdown Average peak-to-trough decline	-81.94%	-13.54%	-68.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	85.24%	13.24%	+72.00%

Volatility

SMUP vs. ASMG - Volatility Comparison

T-REX 2X Long SMR Daily Target ETF (SMUP) has a higher volatility of 52.80% compared to Leverage Shares 2X Long ASML Daily ETF (ASMG) at 29.36%. This indicates that SMUP's price experiences larger fluctuations and is considered to be riskier than ASMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMUP	ASMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	52.80%	29.36%	+23.44%
Volatility (6M) Calculated over the trailing 6-month period	133.94%	74.68%	+59.26%
Volatility (1Y) Calculated over the trailing 1-year period	201.28%	92.16%	+109.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	200.19%	89.81%	+110.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	200.19%	89.81%	+110.38%

SMUP vs. ASMG - Expense Ratio Comparison

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

Dividends

SMUP vs. ASMG - Dividend Comparison

SMUP's dividend yield for the trailing twelve months is around 123.10%, more than ASMG's 6.00% yield.

Position	TTM	2025
ASMG Leverage Shares 2X Long ASML Daily ETF	6.00%	11.20%
SMUP T-REX 2X Long SMR Daily Target ETF	123.10%	22.59%

Frequently Asked Questions

Can I hold both SMUP and ASMG in my portfolio?

SMUP and ASMG have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMUP or ASMG?

SMUP has higher volatility (52.80%) compared to ASMG (29.36%). In terms of maximum drawdown, SMUP dropped -99.35% vs ASMG's -43.95%.

Which ETF is better, SMUP or ASMG?

On 1-year performance, ASMG leads with 307.23% vs -98.90% for SMUP. On fees, ASMG is cheaper at 0.75% per year. On volatility, ASMG has been the lower-risk option at 29.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMUP or ASMG?

Over the 1-year period, ASMG has performed better with a 307.23% return vs -98.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMUP or ASMG?

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

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

SMUP has the higher dividend yield at 123.10%, compared with 6.00% for ASMG.

What is the main difference between SMUP and ASMG?

They also come from different issuers: T-Rex and Leverage Shares. Their fees differ too: 1.50% for SMUP and 0.75% for ASMG.

Which has better risk-adjusted returns?

ASMG currently has the higher Sharpe Ratio (3.29 vs -0.49), 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.