TSMG vs. TSMY

Last updated Jun 23, 2026

TSMG (Leverage Shares 2X Long TSM Daily ETF) and TSMY (YieldMax TSM Option Income Strategy ETF) are both exchange-traded funds - TSMG is a Leveraged Equities fund actively managed by Leverage Shares, while TSMY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, TSMG returned 295.67% vs 94.14% for TSMY. With a 0.98 correlation, they move nearly in lockstep. TSMG charges 0.75%/yr vs 0.99%/yr for TSMY.

Performance

TSMG vs. TSMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long TSM Daily ETF (TSMG) and YieldMax TSM Option Income Strategy ETF (TSMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSMG achieves a 108.52% return, which is significantly higher than TSMY's 44.41% return.

TSMG

• 1D: 2.19%
• 1M: 30.51%
• YTD: 108.52%
• 6M: 123.61%
• 1Y: 295.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMY

• 1D: 0.91%
• 1M: 12.57%
• YTD: 44.41%
• 6M: 48.65%
• 1Y: 94.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSMG vs. TSMY - Yearly Performance Comparison

	2026 (YTD)	2025
TSMG Leverage Shares 2X Long TSM Daily ETF	108.52%	71.03%
TSMY YieldMax TSM Option Income Strategy ETF	44.41%	40.85%

Correlation

The correlation between TSMG and TSMY is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.98

The correlation between TSMG and TSMY has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

TSMG vs. TSMY — Risk / Return Rank

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

TSMG

TSMG Risk / Return Rank: 90
TSMG Sharpe Ratio Rank: 96
TSMG Sortino Ratio Rank: 84
TSMG Omega Ratio Rank: 77
TSMG Calmar Ratio Rank: 96
TSMG Martin Ratio Rank: 95

TSMY

TSMY Risk / Return Rank: 90
TSMY Sharpe Ratio Rank: 92
TSMY Sortino Ratio Rank: 86
TSMY Omega Ratio Rank: 84
TSMY Calmar Ratio Rank: 93
TSMY 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.

TSMG vs. TSMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSM Daily ETF (TSMG) and YieldMax TSM Option Income Strategy ETF (TSMY). 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	TSMY	Difference
Sharpe ratio: Return per unit of total volatility	3.95	3.10	+0.85
Sortino ratio: Return per unit of downside risk	3.58	3.69	-0.11
Omega ratio: Gain probability vs. loss probability	1.44	1.49	-0.05
Calmar ratio: Return relative to maximum drawdown	8.44	6.11	+2.33
Martin ratio: Return relative to average drawdown	27.04	22.22	+4.82

TSMG vs. TSMY - Sharpe Ratio Comparison

The current TSMG Sharpe Ratio is 3.95, which is comparable to the TSMY Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of TSMG and TSMY, 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. TSMY - Drawdown Comparison

The maximum TSMG drawdown since its inception was -63.67%, which is greater than TSMY's maximum drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for TSMG and TSMY.

Drawdown Indicators

	TSMG	TSMY	Difference
Max Drawdown Largest peak-to-trough decline	-63.67%	-31.15%	-32.52%
Max Drawdown (1Y) Largest decline over 1 year	-35.29%	-15.50%	-19.79%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-16.65%	-5.44%	-11.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.99%	4.25%	+6.74%

Volatility

TSMG vs. TSMY - Volatility Comparison

Leverage Shares 2X Long TSM Daily ETF (TSMG) has a higher volatility of 29.04% compared to YieldMax TSM Option Income Strategy ETF (TSMY) at 11.89%. This indicates that TSMG's price experiences larger fluctuations and is considered to be riskier than TSMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMG	TSMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.04%	11.89%	+17.15%
Volatility (6M) Calculated over the trailing 6-month period	59.04%	24.23%	+34.81%
Volatility (1Y) Calculated over the trailing 1-year period	75.62%	30.58%	+45.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.51%	33.68%	+48.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.51%	33.68%	+48.83%

TSMG vs. TSMY - Expense Ratio Comparison

TSMG has a 0.75% expense ratio, which is lower than TSMY's 0.99% expense ratio.

Dividends

TSMG vs. TSMY - Dividend Comparison

TSMG's dividend yield for the trailing twelve months is around 5.51%, less than TSMY's 48.02% yield.

Position	TTM	2025	2024
TSMG Leverage Shares 2X Long TSM Daily ETF	5.51%	11.48%	0.00%
TSMY YieldMax TSM Option Income Strategy ETF	48.02%	56.76%	13.71%

Frequently Asked Questions

Can I hold both TSMG and TSMY in my portfolio?

With a correlation of 0.98, TSMG and TSMY 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 TSMY?

TSMG has higher volatility (29.04%) compared to TSMY (11.89%). In terms of maximum drawdown, TSMG dropped -63.67% vs TSMY's -31.15%.

Which ETF is better, TSMG or TSMY?

On 1-year performance, TSMG leads with 295.67% vs 94.14% for TSMY. On fees, TSMG is cheaper at 0.75% per year. On volatility, TSMY has been the lower-risk option at 11.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMG or TSMY?

Over the 1-year period, TSMG has performed better with a 295.67% return vs 94.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMG or TSMY?

TSMG is cheaper with a 0.75% expense ratio, compared with 0.99% for TSMY.

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

TSMY has the higher dividend yield at 48.02%, compared with 5.51% for TSMG.

What is the main difference between TSMG and TSMY?

TSMG is categorized as Leveraged Equities, while TSMY is Derivative Income. They also come from different issuers: Leverage Shares and YieldMax. Their fees differ too: 0.75% for TSMG and 0.99% for TSMY.

Which has better risk-adjusted returns?

TSMG currently has the higher Sharpe Ratio (3.95 vs 3.10), 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.