TSMG vs. SKRE

Last updated Aug 4, 2026

TSMG (Leverage Shares 2X Long TSM Daily ETF) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both exchange-traded funds - TSMG is a Leveraged Equities fund actively managed by Leverage Shares, while SKRE is a Inverse Equities fund tracking the S&P Regional Banks Select Industry. TSMG is actively managed, while SKRE is passively managed. Over the past year, TSMG returned 130.51% vs -50.55% for SKRE. Their -0.22 correlation means they have often moved in opposite directions in the past. Both charge a 0.75% expense ratio.

Performance

TSMG vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long TSM Daily ETF (TSMG) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSMG achieves a 50.02% return, which is significantly higher than SKRE's -35.15% return.

TSMG

• 1D: 1.17%
• 1M: -15.01%
• 6M: 21.20%
• YTD: 50.02%
• 1Y: 130.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 83.69%

SKRE

• 1D: -2.27%
• 1M: -5.74%
• 6M: -23.25%
• YTD: -35.15%
• 1Y: -50.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -41.81%

*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)
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	$121.93K	$143.27K	$245.32K
TSMG Leverage Shares 2X Long TSM Daily ETF	$3.54M	$4.48M	$4.36M

TSMG vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025
TSMG Leverage Shares 2X Long TSM Daily ETF	50.02%	71.03%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-35.15%	-34.07%

Correlation

The correlation between TSMG and SKRE is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.11
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	-0.22

The correlation between TSMG and SKRE shifts across timeframes, from -0.22 (all time) to -0.11 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TSMG vs. SKRE — Risk / Return Rank

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

TSMG

TSMG Risk / Return Rank: 70
TSMG Sharpe Ratio Rank: 67
TSMG Sortino Ratio Rank: 65
TSMG Omega Ratio Rank: 60
TSMG Calmar Ratio Rank: 84
TSMG Martin Ratio Rank: 75

SKRE

SKRE Risk / Return Rank: 1
SKRE Sharpe Ratio Rank: 1
SKRE Sortino Ratio Rank: 1
SKRE Omega Ratio Rank: 1
SKRE Calmar Ratio Rank: 0
SKRE Martin Ratio Rank: 0

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.

TSMG vs. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSM Daily ETF (TSMG) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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.

	TSMG	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	1.60	-1.11	+2.71
Sortino ratio: Return per unit of downside risk	2.22	-1.79	+4.01
Omega ratio: Gain probability vs. loss probability	1.27	0.80	+0.47
Calmar ratio: Return relative to maximum drawdown	3.25	-0.99	+4.24
Martin ratio: Return relative to average drawdown	9.77	-1.65	+11.41

TSMG vs. SKRE - Sharpe Ratio Comparison

The current TSMG Sharpe Ratio is 1.60, which is higher than the SKRE Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of TSMG and SKRE, 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

TSMG vs. SKRE - Drawdown Comparison

The maximum TSMG drawdown since its inception was -63.67%, smaller than the maximum SKRE drawdown of -79.33%. Use the drawdown chart below to compare losses from any high point for TSMG and SKRE.

Drawdown Indicators

	TSMG	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-63.67%	-79.33%	+15.66%
Max Drawdown (1Y) Largest decline over 1 year	-40.36%	-51.44%	+11.08%
Current Drawdown Current decline from peak	-30.07%	-78.96%	+48.89%
Average Drawdown Average peak-to-trough decline	-17.05%	-49.09%	+32.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.41%	30.75%	-17.34%

Volatility

TSMG vs. SKRE - Volatility Comparison

Leverage Shares 2X Long TSM Daily ETF (TSMG) has a higher volatility of 28.04% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 10.82%. This indicates that TSMG's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMG	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.04%	10.82%	+17.22%
Volatility (6M) Calculated over the trailing 6-month period	66.92%	30.42%	+36.50%
Volatility (1Y) Calculated over the trailing 1-year period	82.33%	45.86%	+36.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.02%	54.75%	+30.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	85.02%	54.75%	+30.27%

TSMG vs. SKRE - Expense Ratio Comparison

Both TSMG and SKRE have an expense ratio of 0.75%.

Dividends

TSMG vs. SKRE - Dividend Comparison

TSMG's dividend yield for the trailing twelve months is around 7.65%, more than SKRE's 0.39% yield.

Position	TTM	2025	2024
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.39%	0.26%	3.16%
TSMG Leverage Shares 2X Long TSM Daily ETF	7.65%	11.48%	0.00%

Frequently Asked Questions

Can I hold both TSMG and SKRE in my portfolio?

TSMG and SKRE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSMG or SKRE?

TSMG has higher volatility (28.04%) compared to SKRE (10.82%). In terms of maximum drawdown, TSMG dropped -63.67% vs SKRE's -79.33%.

Which ETF is better, TSMG or SKRE?

On 1-year performance, TSMG leads with 130.51% vs -50.55% for SKRE. Both ETFs have the same 0.75% expense ratio. On volatility, SKRE has been the lower-risk option at 10.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMG or SKRE?

Over the 1-year period, TSMG has performed better with a 130.51% return vs -50.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMG or SKRE?

TSMG and SKRE have the same expense ratio: 0.75% per year.

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

TSMG has the higher dividend yield at 7.65%, compared with 0.39% for SKRE.

What is the main difference between TSMG and SKRE?

TSMG is categorized as Leveraged Equities, while SKRE is Inverse Equities. They also come from different issuers: Leverage Shares and Tuttle.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (1.60 vs -1.11), 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.