TSMU vs. HDV
TSMU (GraniteShares 2x Long TSM Daily ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - TSMU is a Leveraged Equities fund actively managed by GraniteShares, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. TSMU is actively managed, while HDV is passively managed. Over the past year, TSMU returned 135.40% vs 24.30% for HDV. Their -0.10 correlation means they have often moved in opposite directions in the past. TSMU charges 1.50%/yr vs 0.08%/yr for HDV.
Performance
TSMU vs. HDV - Performance Comparison
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Returns By Period
In the year-to-date period, TSMU achieves a 52.36% return, which is significantly higher than HDV's 19.66% return.
TSMU
- 1D
- -0.91%
- 1M
- -18.35%
- 6M
- 35.87%
- YTD
- 52.36%
- 1Y
- 135.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 79.92%
HDV
- 1D
- -0.24%
- 1M
- 3.72%
- 6M
- 7.30%
- YTD
- 19.66%
- 1Y
- 24.30%
- 3Y*
- 15.80%
- 5Y*
- 12.00%
- 10Y*
- 9.57%
- ALL TIME*
- 10.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $205.70M | $171.89M | $116.16M | |
| $4.89M | $6.56M | $6.64M |
TSMU vs. HDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TSMU GraniteShares 2x Long TSM Daily ETF | 52.36% | 74.83% | 3.55% |
HDV iShares Core High Dividend ETF | 19.66% | 11.90% | -4.55% |
Correlation
The correlation between TSMU and HDV is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024 | -0.10 |
The correlation between TSMU and HDV shifts across timeframes, from -0.21 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.
TSMU vs. HDV - Sectors Allocation Comparison
Sectors
TSMU
HDV
Technology
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Energy
-
Financial Services
-
Healthcare
-
Industrials
-
Real Estate
-
-
Utilities
-
Technology
TSMU
HDV
Basic Materials
TSMU
-
HDV
Communication Services
TSMU
-
HDV
Consumer Cyclical
TSMU
-
HDV
Consumer Defensive
TSMU
-
HDV
Energy
TSMU
-
HDV
Financial Services
TSMU
-
HDV
Healthcare
TSMU
-
HDV
Industrials
TSMU
-
HDV
Real Estate
TSMU
-
HDV
-
Utilities
TSMU
-
HDV
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Return for Risk
TSMU vs. HDV — Risk / Return Rank
TSMU
HDV
TSMU vs. HDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long TSM Daily ETF (TSMU) and iShares Core High Dividend ETF (HDV). 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 | HDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.40 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 4.71 | -1.37 |
| Martin ratioReturn relative to average drawdown | 9.94 | 12.85 | -2.91 |
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Drawdowns
TSMU vs. HDV - Drawdown Comparison
The maximum TSMU drawdown since its inception was -63.73%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for TSMU and HDV.
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Drawdown Indicators
| TSMU | HDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.73% | -37.04% | -26.69% |
Max Drawdown (1Y)Largest decline over 1 year | -40.67% | -5.18% | -35.49% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.04% | — |
Current DrawdownCurrent decline from peak | -27.58% | -1.72% | -25.86% |
Average DrawdownAverage peak-to-trough decline | -16.21% | -3.06% | -13.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.68% | 1.90% | +11.78% |
Volatility
TSMU vs. HDV - Volatility Comparison
GraniteShares 2x Long TSM Daily ETF (TSMU) has a higher volatility of 25.51% compared to iShares Core High Dividend ETF (HDV) at 4.12%. This indicates that TSMU's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSMU | HDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.51% | 4.12% | +21.39% |
Volatility (6M)Calculated over the trailing 6-month period | 65.81% | 8.54% | +57.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 81.55% | 10.80% | +70.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.87% | 12.94% | +70.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.87% | 15.78% | +68.09% |
TSMU vs. HDV - Expense Ratio Comparison
TSMU has a 1.50% expense ratio, which is higher than HDV's 0.08% expense ratio.
Dividends
TSMU vs. HDV - Dividend Comparison
TSMU has not paid dividends to shareholders, while HDV's dividend yield for the trailing twelve months is around 3.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDV iShares Core High Dividend ETF | 3.08% | 3.22% | 3.67% | 3.82% | 3.56% | 3.47% | 4.07% | 3.27% | 3.67% | 3.27% | 3.28% | 3.92% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
TSMU and HDV have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSMU has higher volatility (25.51%) compared to HDV (4.12%). In terms of maximum drawdown, TSMU dropped -63.73% vs HDV's -37.04%.
On 1-year performance, TSMU leads with 135.40% vs 24.30% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TSMU has performed better with a 135.40% return vs 24.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HDV is cheaper with a 0.08% expense ratio, compared with 1.50% for TSMU.
HDV has the higher dividend yield at 3.08%, compared with 0.00% for TSMU.
TSMU is categorized as Leveraged Equities, while HDV is Dividend. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.50% for TSMU and 0.08% for HDV.
HDV currently has the higher Sharpe Ratio (2.26 vs 1.67), 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.
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