SOLT vs. TSMG

Last updated Jun 24, 2026

SOLT (2x Solana ETF) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both exchange-traded funds - SOLT is a Blockchain fund actively managed by Volatility Shares, while TSMG is a Leveraged Equities fund actively managed by Leverage Shares. Both are actively managed. Over the past year, SOLT returned -89.02% vs 241.80% for TSMG. At a 0.34 correlation, their price movements are largely independent. SOLT charges 1.85%/yr vs 0.75%/yr for TSMG.

Performance

SOLT vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 2x Solana ETF (SOLT) 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, SOLT achieves a -77.47% return, which is significantly lower than TSMG's 80.39% return.

SOLT

• 1D: -10.71%
• 1M: -37.12%
• YTD: -77.47%
• 6M: -77.71%
• 1Y: -89.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMG

• 1D: -13.49%
• 1M: 12.90%
• YTD: 80.39%
• 6M: 88.25%
• 1Y: 241.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOLT vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
SOLT 2x Solana ETF	-77.47%	-55.52%
TSMG Leverage Shares 2X Long TSM Daily ETF	80.39%	154.42%

Correlation

The correlation between SOLT and TSMG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Mar 20, 2025	0.34

Return for Risk

SOLT vs. TSMG — Risk / Return Rank

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

SOLT

SOLT Risk / Return Rank: 3
SOLT Sharpe Ratio Rank: 4
SOLT Sortino Ratio Rank: 3
SOLT Omega Ratio Rank: 3
SOLT Calmar Ratio Rank: 1
SOLT Martin Ratio Rank: 3

TSMG

TSMG Risk / Return Rank: 85
TSMG Sharpe Ratio Rank: 93
TSMG Sortino Ratio Rank: 75
TSMG Omega Ratio Rank: 70
TSMG Calmar Ratio Rank: 94
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.

SOLT vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 2x Solana ETF (SOLT) 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.

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.

	SOLT	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	3.17	-3.77
Sortino ratio: Return per unit of downside risk	-1.04	3.15	-4.19
Omega ratio: Gain probability vs. loss probability	0.89	1.39	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.93	6.90	-7.82
Martin ratio: Return relative to average drawdown	-1.26	22.04	-23.30

SOLT vs. TSMG - Sharpe Ratio Comparison

The current SOLT Sharpe Ratio is -0.60, which is lower than the TSMG Sharpe Ratio of 3.17. The chart below compares the historical Sharpe Ratios of SOLT 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.

Drawdowns

SOLT vs. TSMG - Drawdown Comparison

The maximum SOLT drawdown since its inception was -96.28%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for SOLT and TSMG.

Drawdown Indicators

	SOLT	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-96.28%	-63.67%	-32.61%
Max Drawdown (1Y) Largest decline over 1 year	-96.28%	-35.29%	-60.99%
Current Drawdown Current decline from peak	-95.74%	-13.49%	-82.25%
Average Drawdown Average peak-to-trough decline	-54.92%	-16.65%	-38.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	70.78%	11.03%	+59.75%

Volatility

SOLT vs. TSMG - Volatility Comparison

2x Solana ETF (SOLT) has a higher volatility of 43.69% compared to Leverage Shares 2X Long TSM Daily ETF (TSMG) at 33.00%. This indicates that SOLT'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

	SOLT	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.69%	33.00%	+10.69%
Volatility (6M) Calculated over the trailing 6-month period	104.76%	60.76%	+44.00%
Volatility (1Y) Calculated over the trailing 1-year period	148.24%	76.78%	+71.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	151.89%	83.21%	+68.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	151.89%	83.21%	+68.68%

SOLT vs. TSMG - Expense Ratio Comparison

SOLT has a 1.85% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

SOLT vs. TSMG - Dividend Comparison

SOLT's dividend yield for the trailing twelve months is around 6.91%, more than TSMG's 6.37% yield.

Position	TTM	2025
SOLT 2x Solana ETF	6.91%	1.22%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.37%	11.48%

Frequently Asked Questions

Can I hold both SOLT and TSMG in my portfolio?

SOLT and TSMG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOLT or TSMG?

SOLT has higher volatility (43.69%) compared to TSMG (33.00%). In terms of maximum drawdown, SOLT dropped -96.28% vs TSMG's -63.67%.

Which ETF is better, SOLT or TSMG?

On 1-year performance, TSMG leads with 241.80% vs -89.02% for SOLT. On fees, TSMG is cheaper at 0.75% per year. On volatility, TSMG has been the lower-risk option at 33.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOLT or TSMG?

Over the 1-year period, TSMG has performed better with a 241.80% return vs -89.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOLT or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 1.85% for SOLT.

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

SOLT has the higher dividend yield at 6.91%, compared with 6.37% for TSMG.

What is the main difference between SOLT and TSMG?

SOLT is categorized as Blockchain, while TSMG is Leveraged Equities. They also come from different issuers: Volatility Shares and Leverage Shares. Their fees differ too: 1.85% for SOLT and 0.75% for TSMG.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (3.17 vs -0.60), 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.