TSMU vs. FLKR

Last updated Jun 23, 2026

TSMU (GraniteShares 2x Long TSM Daily ETF) and FLKR (Franklin FTSE South Korea ETF) are both exchange-traded funds - TSMU is a Leveraged Equities fund actively managed by GraniteShares, while FLKR is a Asia Pacific Equities fund tracking the FTSE South Korea RIC Capped Index. TSMU is actively managed, while FLKR is passively managed. Over the past year, TSMU returned 276.02% vs 222.34% for FLKR. A 0.54 correlation means they provide meaningful diversification when combined. TSMU charges 1.50%/yr vs 0.09%/yr for FLKR.

Performance

TSMU vs. FLKR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long TSM Daily ETF (TSMU) and Franklin FTSE South Korea ETF (FLKR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSMU achieves a 104.61% return, which is significantly lower than FLKR's 125.43% return.

TSMU

• 1D: 2.23%
• 1M: 30.30%
• YTD: 104.61%
• 6M: 118.99%
• 1Y: 276.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLKR

• 1D: 0.78%
• 1M: 22.92%
• YTD: 125.43%
• 6M: 139.24%
• 1Y: 222.34%
• 3Y*: 55.23%
• 5Y*: 20.92%
• 10Y*: —

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

TSMU vs. FLKR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSMU GraniteShares 2x Long TSM Daily ETF	104.61%	74.83%	3.55%
FLKR Franklin FTSE South Korea ETF	125.43%	91.91%	-10.03%

Correlation

The correlation between TSMU and FLKR is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024	0.54

The correlation between TSMU and FLKR has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.

TSMU vs. FLKR - Sectors Allocation Comparison

Sectors	TSMU	FLKR
Technology	66.6%	62.9%
Basic Materials	-	1.9%
Communication Services	-	2.0%
Consumer Cyclical	-	6.3%
Consumer Defensive	-	1.4%
Energy	-	0.7%
Financial Services	-	7.5%
Healthcare	-	2.4%
Industrials	-	14.6%
Real Estate	-	-
Utilities	-	0.3%

Return for Risk

TSMU vs. FLKR — Risk / Return Rank

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

TSMU

TSMU Risk / Return Rank: 88
TSMU Sharpe Ratio Rank: 95
TSMU Sortino Ratio Rank: 82
TSMU Omega Ratio Rank: 75
TSMU Calmar Ratio Rank: 96
TSMU Martin Ratio Rank: 94

FLKR

FLKR Risk / Return Rank: 95
FLKR Sharpe Ratio Rank: 97
FLKR Sortino Ratio Rank: 93
FLKR Omega Ratio Rank: 94
FLKR Calmar Ratio Rank: 97
FLKR Martin Ratio Rank: 96

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.

TSMU vs. FLKR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long TSM Daily ETF (TSMU) and Franklin FTSE South Korea ETF (FLKR). 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.

	TSMU	FLKR	Difference
Sharpe ratio: Return per unit of total volatility	3.71	4.80	-1.08
Sortino ratio: Return per unit of downside risk	3.48	4.38	-0.90
Omega ratio: Gain probability vs. loss probability	1.42	1.64	-0.22
Calmar ratio: Return relative to maximum drawdown	7.90	9.72	-1.82
Martin ratio: Return relative to average drawdown	25.20	33.72	-8.52

TSMU vs. FLKR - Sharpe Ratio Comparison

The current TSMU Sharpe Ratio is 3.71, which is comparable to the FLKR Sharpe Ratio of 4.80. The chart below compares the historical Sharpe Ratios of TSMU and FLKR, 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

TSMU vs. FLKR - Drawdown Comparison

The maximum TSMU drawdown since its inception was -63.73%, which is greater than FLKR's maximum drawdown of -50.06%. Use the drawdown chart below to compare losses from any high point for TSMU and FLKR.

Drawdown Indicators

	TSMU	FLKR	Difference
Max Drawdown Largest peak-to-trough decline	-63.73%	-50.06%	-13.67%
Max Drawdown (1Y) Largest decline over 1 year	-35.18%	-23.03%	-12.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-49.51%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-15.72%	-21.99%	+6.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.01%	6.63%	+4.38%

Volatility

TSMU vs. FLKR - Volatility Comparison

GraniteShares 2x Long TSM Daily ETF (TSMU) has a higher volatility of 28.51% compared to Franklin FTSE South Korea ETF (FLKR) at 26.54%. This indicates that TSMU's price experiences larger fluctuations and is considered to be riskier than FLKR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMU	FLKR	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.51%	26.54%	+1.97%
Volatility (6M) Calculated over the trailing 6-month period	57.93%	42.94%	+14.99%
Volatility (1Y) Calculated over the trailing 1-year period	75.06%	46.77%	+28.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.67%	29.97%	+51.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.67%	28.56%	+53.11%

TSMU vs. FLKR - Expense Ratio Comparison

TSMU has a 1.50% expense ratio, which is higher than FLKR's 0.09% expense ratio.

Dividends

TSMU vs. FLKR - Dividend Comparison

TSMU has not paid dividends to shareholders, while FLKR's dividend yield for the trailing twelve months is around 1.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLKR Franklin FTSE South Korea ETF	1.62%	3.87%	7.08%	2.28%	3.13%	2.12%	0.99%	2.09%	1.86%	1.02%
TSMU GraniteShares 2x Long TSM Daily ETF	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 TSMU and FLKR in my portfolio?

TSMU and FLKR have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSMU or FLKR?

TSMU has higher volatility (28.51%) compared to FLKR (26.54%). In terms of maximum drawdown, TSMU dropped -63.73% vs FLKR's -50.06%.

Which ETF is better, TSMU or FLKR?

On 1-year performance, TSMU leads with 276.02% vs 222.34% for FLKR. On fees, FLKR is cheaper at 0.09% per year. On volatility, FLKR has been the lower-risk option at 26.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMU or FLKR?

Over the 1-year period, TSMU has performed better with a 276.02% return vs 222.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMU or FLKR?

FLKR is cheaper with a 0.09% expense ratio, compared with 1.50% for TSMU.

Which ETF pays a higher dividend yield, TSMU or FLKR?

FLKR has the higher dividend yield at 1.62%, compared with 0.00% for TSMU.

What is the main difference between TSMU and FLKR?

TSMU is categorized as Leveraged Equities, while FLKR is Asia Pacific Equities. They also come from different issuers: GraniteShares and Franklin Templeton. Their fees differ too: 1.50% for TSMU and 0.09% for FLKR.

Which has better risk-adjusted returns?

FLKR currently has the higher Sharpe Ratio (4.80 vs 3.71), 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.