SOFX vs. TSMG

Last updated Jun 4, 2026

SOFX (Defiance Daily Target 2X Long SOFI ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, SOFX returned -13.23% vs 297.71% for TSMG. At a 0.40 correlation, their price movements are largely independent. SOFX charges 1.29%/yr vs 0.75%/yr for TSMG.

Performance

SOFX vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SOFI ETF (SOFX) 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, SOFX achieves a -67.58% return, which is significantly lower than TSMG's 86.06% return.

SOFX

• 1D: -12.03%
• 1M: 1.43%
• YTD: -67.58%
• 6M: -74.61%
• 1Y: -13.23%
• 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)

SOFX vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
SOFX Defiance Daily Target 2X Long SOFI ETF	-67.58%	44.42%
TSMG Leverage Shares 2X Long TSM Daily ETF	86.06%	56.04%

Correlation

The correlation between SOFX and TSMG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025	0.40

The correlation between SOFX and TSMG shifts across timeframes, from 0.30 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SOFX vs. TSMG — Risk / Return Rank

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

SOFX

SOFX Risk / Return Rank: 10
SOFX Sharpe Ratio Rank: 8
SOFX Sortino Ratio Rank: 14
SOFX Omega Ratio Rank: 14
SOFX Calmar Ratio Rank: 8
SOFX Martin Ratio Rank: 8

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.

SOFX vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long SOFI ETF (SOFX) 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.

	SOFX	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.12	4.18	-4.30
Sortino ratio: Return per unit of downside risk	0.62	3.78	-3.16
Omega ratio: Gain probability vs. loss probability	1.07	1.46	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.16	8.50	-8.66
Martin ratio: Return relative to average drawdown	-0.28	27.74	-28.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOFX vs. TSMG - Sharpe Ratio Comparison

The current SOFX Sharpe Ratio is -0.12, which is lower than the TSMG Sharpe Ratio of 4.18. The chart below compares the historical Sharpe Ratios of SOFX and TSMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SOFX	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	4.18	-4.30
Sharpe Ratio (All Time) Calculated using the full available price history	-0.35	1.69	-2.04

Drawdowns

SOFX vs. TSMG - Drawdown Comparison

The maximum SOFX drawdown since its inception was -83.23%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for SOFX and TSMG.

Drawdown Indicators

	SOFX	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-83.23%	-63.67%	-19.56%
Max Drawdown (1Y) Largest decline over 1 year	-83.23%	-35.29%	-47.94%
Current Drawdown Current decline from peak	-80.35%	-4.26%	-76.09%
Average Drawdown Average peak-to-trough decline	-42.33%	-16.98%	-25.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.31%	10.79%	+36.52%

Volatility

SOFX vs. TSMG - Volatility Comparison

Defiance Daily Target 2X Long SOFI ETF (SOFX) has a higher volatility of 31.12% compared to Leverage Shares 2X Long TSM Daily ETF (TSMG) at 23.14%. This indicates that SOFX's price experiences larger fluctuations and is considered to be riskier than TSMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOFX	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.12%	23.14%	+7.98%
Volatility (6M) Calculated over the trailing 6-month period	77.48%	55.07%	+22.41%
Volatility (1Y) Calculated over the trailing 1-year period	111.80%	71.74%	+40.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	122.37%	81.06%	+41.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	122.37%	81.06%	+41.31%

SOFX vs. TSMG - Expense Ratio Comparison

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

Dividends

SOFX vs. TSMG - Dividend Comparison

SOFX's dividend yield for the trailing twelve months is around 39.07%, more than TSMG's 6.17% yield.

Position	TTM	2025
SOFX Defiance Daily Target 2X Long SOFI ETF	39.07%	12.67%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.17%	11.48%

Frequently Asked Questions

Can I hold both SOFX and TSMG in my portfolio?

SOFX and TSMG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOFX or TSMG?

SOFX has higher volatility (31.12%) compared to TSMG (23.14%). In terms of maximum drawdown, SOFX dropped -83.23% vs TSMG's -63.67%.

Which ETF is better, SOFX or TSMG?

On 1-year performance, TSMG leads with 297.71% vs -13.23% for SOFX. On fees, TSMG is cheaper at 0.75% per year. On volatility, TSMG has been the lower-risk option at 23.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOFX or TSMG?

Over the 1-year period, TSMG has performed better with a 297.71% return vs -13.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOFX or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 1.29% for SOFX.

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

SOFX has the higher dividend yield at 39.07%, compared with 6.17% for TSMG.

What is the main difference between SOFX and TSMG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.29% for SOFX and 0.75% for TSMG.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (4.18 vs -0.12), 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.