TSMG vs. TSM

Last updated Aug 2, 2026

TSMG (Leverage Shares 2X Long TSM Daily ETF) is Leveraged Equities fund actively managed by Leverage Shares, while TSM (Taiwan Semiconductor Manufacturing Company Limited) is a stock. Over the past year, TSMG returned 127.86% vs 73.74% for TSM. Their 0.99 correlation means they have historically moved very closely together.

Performance

TSMG vs. TSM - Performance Comparison

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

Returns By Period

In the year-to-date period, TSMG achieves a 48.29% return, which is significantly higher than TSM's 33.71% return.

TSMG

• 1D: -0.01%
• 1M: -15.99%
• 6M: 27.89%
• YTD: 48.29%
• 1Y: 127.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 82.91%

TSM

• 1D: 0.23%
• 1M: -6.89%
• 6M: 22.92%
• YTD: 33.71%
• 1Y: 73.74%
• 3Y*: 62.43%
• 5Y*: 30.32%
• 10Y*: 33.46%
• ALL TIME*: 16.20%

*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)
TSM Taiwan Semiconductor Manufacturing Company Limited	$6.03B	$6.30B	$6.05B
TSMG Leverage Shares 2X Long TSM Daily ETF	$3.62M	$4.60M	$4.37M

TSMG vs. TSM - Yearly Performance Comparison

	2026 (YTD)	2025
TSMG Leverage Shares 2X Long TSM Daily ETF	48.29%	71.03%
TSM Taiwan Semiconductor Manufacturing Company Limited	33.71%	52.91%

Correlation

The correlation between TSMG and TSM is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.99

The correlation between TSMG and TSM has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

TSMG vs. TSM — Risk / Return Rank

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

TSMG

TSMG Risk / Return Rank: 66
TSMG Sharpe Ratio Rank: 60
TSMG Sortino Ratio Rank: 63
TSMG Omega Ratio Rank: 57
TSMG Calmar Ratio Rank: 80
TSMG Martin Ratio Rank: 72

TSM

TSM Risk / Return Rank: 87
TSM Sharpe Ratio Rank: 88
TSM Sortino Ratio Rank: 85
TSM Omega Ratio Rank: 82
TSM Calmar Ratio Rank: 88
TSM Martin Ratio Rank: 92

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. TSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSM Daily ETF (TSMG) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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	TSM	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.71	-0.29
Sortino ratio: Return per unit of downside risk	2.09	2.33	-0.24
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	2.89	3.23	-0.34
Martin ratio: Return relative to average drawdown	8.76	10.80	-2.04

TSMG vs. TSM - Sharpe Ratio Comparison

The current TSMG Sharpe Ratio is 1.41, which is comparable to the TSM Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of TSMG and TSM, 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. TSM - Drawdown Comparison

The maximum TSMG drawdown since its inception was -63.67%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for TSMG and TSM.

Drawdown Indicators

	TSMG	TSM	Difference
Max Drawdown Largest peak-to-trough decline	-63.67%	-89.08%	+25.41%
Max Drawdown (1Y) Largest decline over 1 year	-40.36%	-21.55%	-18.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-36.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-56.47%	—
Current Drawdown Current decline from peak	-30.88%	-15.35%	-15.53%
Average Drawdown Average peak-to-trough decline	-17.02%	-42.69%	+25.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.29%	6.43%	+6.86%

Volatility

TSMG vs. TSM - Volatility Comparison

Leverage Shares 2X Long TSM Daily ETF (TSMG) has a higher volatility of 28.22% compared to Taiwan Semiconductor Manufacturing Company Limited (TSM) at 13.76%. This indicates that TSMG's price experiences larger fluctuations and is considered to be riskier than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMG	TSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.22%	13.76%	+14.46%
Volatility (6M) Calculated over the trailing 6-month period	67.16%	33.07%	+34.09%
Volatility (1Y) Calculated over the trailing 1-year period	82.37%	40.75%	+41.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.13%	38.35%	+46.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	85.13%	34.75%	+50.38%

Dividends

TSMG vs. TSM - Dividend Comparison

TSMG's dividend yield for the trailing twelve months is around 7.74%, more than TSM's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSM Taiwan Semiconductor Manufacturing Company Limited	0.87%	1.00%	1.18%	1.78%	2.49%	1.57%	1.56%	3.46%	3.64%	2.32%	2.61%	2.54%
TSMG Leverage Shares 2X Long TSM Daily ETF	7.74%	11.48%	0.00%	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 TSM in my portfolio?

With a correlation of 1.00, TSMG and TSM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TSMG or TSM?

TSMG has higher volatility (28.22%) compared to TSM (13.76%). In terms of maximum drawdown, TSMG dropped -63.67% vs TSM's -89.08%.

Which has better risk-adjusted returns?

TSM currently has the higher Sharpe Ratio (1.71 vs 1.41), 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.