TSMG vs. SOXL

Last updated Jun 24, 2026

TSMG (Leverage Shares 2X Long TSM Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. TSMG is actively managed, while SOXL is passively managed. Over the past year, TSMG returned 241.80% vs 976.09% for SOXL. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

TSMG vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long TSM Daily ETF (TSMG) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSMG achieves a 80.39% return, which is significantly lower than SOXL's 450.61% return.

TSMG

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

SOXL

• 1D: -23.06%
• 1M: 21.44%
• YTD: 450.61%
• 6M: 429.57%
• 1Y: 976.09%
• 3Y*: 120.84%
• 5Y*: 42.16%
• 10Y*: 64.56%

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

TSMG vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
TSMG Leverage Shares 2X Long TSM Daily ETF	80.39%	71.03%
SOXL Direxion Daily Semiconductor Bull 3X ETF	450.61%	51.91%

Correlation

The correlation between TSMG and SOXL is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.70

The correlation between TSMG and SOXL has been stable across timeframes, ranging from 0.68 to 0.70 - a consistent structural relationship.

Return for Risk

TSMG vs. SOXL — Risk / Return Rank

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

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

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 90
SOXL Omega Ratio Rank: 92
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

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.

TSMG vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSM Daily ETF (TSMG) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	3.17	8.45	-5.27
Sortino ratio: Return per unit of downside risk	3.15	4.03	-0.88
Omega ratio: Gain probability vs. loss probability	1.39	1.58	-0.19
Calmar ratio: Return relative to maximum drawdown	6.90	22.69	-15.79
Martin ratio: Return relative to average drawdown	22.04	72.83	-50.79

TSMG vs. SOXL - Sharpe Ratio Comparison

The current TSMG Sharpe Ratio is 3.17, which is lower than the SOXL Sharpe Ratio of 8.45. The chart below compares the historical Sharpe Ratios of TSMG and SOXL, 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. SOXL - Drawdown Comparison

The maximum TSMG drawdown since its inception was -63.67%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for TSMG and SOXL.

Drawdown Indicators

	TSMG	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-63.67%	-90.46%	+26.79%
Max Drawdown (1Y) Largest decline over 1 year	-35.29%	-43.47%	+8.18%
Max Drawdown (3Y) Largest decline over 3 years	—	-87.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	-13.49%	-23.06%	+9.57%
Average Drawdown Average peak-to-trough decline	-16.65%	-34.95%	+18.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.03%	13.52%	-2.49%

Volatility

TSMG vs. SOXL - Volatility Comparison

The current volatility for Leverage Shares 2X Long TSM Daily ETF (TSMG) is 33.00%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that TSMG experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMG	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.00%	68.39%	-35.39%
Volatility (6M) Calculated over the trailing 6-month period	60.76%	99.84%	-39.08%
Volatility (1Y) Calculated over the trailing 1-year period	76.78%	116.79%	-40.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.21%	110.35%	-27.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.21%	100.62%	-17.41%

TSMG vs. SOXL - Expense Ratio Comparison

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

Dividends

TSMG vs. SOXL - Dividend Comparison

TSMG's dividend yield for the trailing twelve months is around 6.37%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.03%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%
TSMG Leverage Shares 2X Long TSM Daily ETF	6.37%	11.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSMG and SOXL in my portfolio?

TSMG and SOXL have a correlation of 0.68, 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 SOXL?

SOXL has higher volatility (68.39%) compared to TSMG (33.00%). In terms of maximum drawdown, TSMG dropped -63.67% vs SOXL's -90.46%.

Which ETF is better, TSMG or SOXL?

On 1-year performance, SOXL leads with 976.09% vs 241.80% for TSMG. Both ETFs have the same 0.75% expense ratio. 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, TSMG or SOXL?

Over the 1-year period, SOXL has performed better with a 976.09% return vs 241.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMG or SOXL?

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

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

TSMG has the higher dividend yield at 6.37%, compared with 0.03% for SOXL.

What is the main difference between TSMG and SOXL?

They also come from different issuers: Leverage Shares and Direxion.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.45 vs 3.17), 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.