TSMG vs. TSLT

Last updated Aug 4, 2026

TSMG (Leverage Shares 2X Long TSM Daily ETF) and TSLT (T-Rex 2X Long Tesla Daily Target ETF) are both Leveraged Equities funds. TSMG is actively managed, while TSLT is passively managed. Over the past year, TSMG returned 130.51% vs -22.07% for TSLT. Their 0.45 correlation means their historical movements had little consistent relationship. TSMG charges 0.75%/yr vs 1.05%/yr for TSLT.

Performance

TSMG vs. TSLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long TSM Daily ETF (TSMG) and T-Rex 2X Long Tesla Daily Target ETF (TSLT). 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 TSLT's -59.15% return.

TSMG

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

TSLT

• 1D: 6.96%
• 1M: -36.57%
• 6M: -52.40%
• YTD: -59.15%
• 1Y: -22.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -21.90%

*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)
TSLT T-Rex 2X Long Tesla Daily Target ETF	$37.77M	$37.80M	$53.70M
TSMG Leverage Shares 2X Long TSM Daily ETF	$3.54M	$4.48M	$4.36M

TSMG vs. TSLT - Yearly Performance Comparison

	2026 (YTD)	2025
TSMG Leverage Shares 2X Long TSM Daily ETF	50.02%	71.03%
TSLT T-Rex 2X Long Tesla Daily Target ETF	-59.15%	-27.85%

Correlation

The correlation between TSMG and TSLT is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.45

Return for Risk

TSMG vs. TSLT — 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

TSLT

TSLT Risk / Return Rank: 10
TSLT Sharpe Ratio Rank: 8
TSLT Sortino Ratio Rank: 14
TSLT Omega Ratio Rank: 13
TSLT Calmar Ratio Rank: 7
TSLT Martin Ratio Rank: 6

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. TSLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSM Daily ETF (TSMG) and T-Rex 2X Long Tesla Daily Target ETF (TSLT). 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	TSLT	Difference
Sharpe ratio: Return per unit of total volatility	1.60	-0.24	+1.84
Sortino ratio: Return per unit of downside risk	2.22	0.28	+1.94
Omega ratio: Gain probability vs. loss probability	1.27	1.03	+0.23
Calmar ratio: Return relative to maximum drawdown	3.25	-0.31	+3.57
Martin ratio: Return relative to average drawdown	9.77	-0.68	+10.45

TSMG vs. TSLT - Sharpe Ratio Comparison

The current TSMG Sharpe Ratio is 1.60, which is higher than the TSLT Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of TSMG and TSLT, 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. TSLT - Drawdown Comparison

The maximum TSMG drawdown since its inception was -63.67%, smaller than the maximum TSLT drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for TSMG and TSLT.

Drawdown Indicators

	TSMG	TSLT	Difference
Max Drawdown Largest peak-to-trough decline	-63.67%	-83.16%	+19.49%
Max Drawdown (1Y) Largest decline over 1 year	-40.36%	-70.65%	+30.29%
Current Drawdown Current decline from peak	-30.07%	-80.16%	+50.09%
Average Drawdown Average peak-to-trough decline	-17.05%	-51.49%	+34.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.41%	32.28%	-18.87%

Volatility

TSMG vs. TSLT - Volatility Comparison

The current volatility for Leverage Shares 2X Long TSM Daily ETF (TSMG) is 28.04%, while T-Rex 2X Long Tesla Daily Target ETF (TSLT) has a volatility of 42.36%. This indicates that TSMG experiences smaller price fluctuations and is considered to be less risky than TSLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMG	TSLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.04%	42.36%	-14.32%
Volatility (6M) Calculated over the trailing 6-month period	66.92%	70.73%	-3.81%
Volatility (1Y) Calculated over the trailing 1-year period	82.33%	92.57%	-10.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.02%	117.69%	-32.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	85.02%	117.69%	-32.67%

TSMG vs. TSLT - Expense Ratio Comparison

TSMG has a 0.75% expense ratio, which is lower than TSLT's 1.05% expense ratio.

Dividends

TSMG vs. TSLT - Dividend Comparison

TSMG's dividend yield for the trailing twelve months is around 7.65%, while TSLT has not paid dividends to shareholders.

Position	TTM	2025
TSLT T-Rex 2X Long Tesla Daily Target ETF	0.00%	0.00%
TSMG Leverage Shares 2X Long TSM Daily ETF	7.65%	11.48%

Frequently Asked Questions

Can I hold both TSMG and TSLT in my portfolio?

TSMG and TSLT have a correlation of 0.48, 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 TSLT?

TSLT has higher volatility (42.36%) compared to TSMG (28.04%). In terms of maximum drawdown, TSMG dropped -63.67% vs TSLT's -83.16%.

Which ETF is better, TSMG or TSLT?

On 1-year performance, TSMG leads with 130.51% vs -22.07% for TSLT. On fees, TSMG is cheaper at 0.75% per year. On volatility, TSMG has been the lower-risk option at 28.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMG or TSLT?

Over the 1-year period, TSMG has performed better with a 130.51% return vs -22.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMG or TSLT?

TSMG is cheaper with a 0.75% expense ratio, compared with 1.05% for TSLT.

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

TSMG has the higher dividend yield at 7.65%, compared with 0.00% for TSLT.

What is the main difference between TSMG and TSLT?

They also come from different issuers: Leverage Shares and T-Rex. Their fees differ too: 0.75% for TSMG and 1.05% for TSLT.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (1.60 vs -0.24), 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.