PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
TSMU vs. IAK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TSMU vs. IAK

Last updated Aug 2, 2026
Documentation

TSMU (GraniteShares 2x Long TSM Daily ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - TSMU is a Leveraged Equities fund actively managed by GraniteShares, while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. TSMU is actively managed, while IAK is passively managed. Over the past year, TSMU returned 118.59% vs 19.63% for IAK. Their -0.15 correlation means they have often moved in opposite directions in the past. TSMU charges 1.50%/yr vs 0.38%/yr for IAK.

Performance

TSMU vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long TSM Daily ETF (TSMU) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, TSMU achieves a 45.22% return, which is significantly higher than IAK's 10.07% return.

TSMU

1D
0.37%
1M
-15.84%
6M
25.27%
YTD
45.22%
1Y
118.59%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
75.77%

IAK

1D
-0.31%
1M
-0.06%
6M
12.67%
YTD
10.07%
1Y
19.63%
3Y*
19.72%
5Y*
15.95%
10Y*
13.45%
ALL TIME*
7.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IAK

iShares U.S. Insurance ETF
$14.76M$20.90M$11.89M

TSMU

GraniteShares 2x Long TSM Daily ETF
$5.79M$7.14M$6.95M

TSMU vs. IAK - Yearly Performance Comparison

2026 (YTD)20252024
TSMU
GraniteShares 2x Long TSM Daily ETF		45.22%74.83%3.55%
IAK
iShares U.S. Insurance ETF		10.07%9.50%-3.76%

Correlation

The correlation between TSMU and IAK is -0.29, 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.

-0.29

Correlation (All Time)
Calculated using the full available price history since Nov 12, 2024

-0.15

The correlation between TSMU and IAK shifts across timeframes, from -0.29 (1 year) to -0.15 (all time), reflecting how their relationship changes across market environments.

TSMU vs. IAK - Sectors Allocation Comparison

Sectors
TSMU
IAK

Technology

66.6%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

99.3%

Healthcare

-

0.7%

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Technology

TSMU
66.6%
IAK

-

Basic Materials

TSMU

-

IAK

-

Communication Services

TSMU

-

IAK

-

Consumer Cyclical

TSMU

-

IAK

-

Consumer Defensive

TSMU

-

IAK

-

Energy

TSMU

-

IAK

-

Financial Services

TSMU

-

IAK
99.3%

Healthcare

TSMU

-

IAK
0.7%

Industrials

TSMU

-

IAK

-

Real Estate

TSMU

-

IAK

-

Utilities

TSMU

-

IAK

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

GraniteShares 2x Long TSM Daily ETF

iShares U.S. Insurance ETF

Often compared with TSMU:
TSMU vs. ^GSPCTSMU vs. TSMXTSMU vs. TSMGTSMU vs. FLKRTSMU vs. KORUTSMU vs. MVLLTSMU vs. MUU
Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. ^SP500TRIAK vs. VYM

Return for Risk

TSMU vs. IAK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
TSMU
TSMU Risk / Return Rank: 6262
Overall Rank
TSMU Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
TSMU Sortino Ratio Rank: 5959
Sortino Ratio Rank
TSMU Omega Ratio Rank: 5353
Omega Ratio Rank
TSMU Calmar Ratio Rank: 7575
Calmar Ratio Rank
TSMU Martin Ratio Rank: 6666
Martin Ratio Rank
IAK
IAK Risk / Return Rank: 5353
Overall Rank
IAK Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 4848
Sortino Ratio Rank
IAK Omega Ratio Rank: 4545
Omega Ratio Rank
IAK Calmar Ratio Rank: 7171
Calmar Ratio Rank
IAK Martin Ratio Rank: 5252
Martin Ratio Rank
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.

TSMU vs. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long TSM Daily ETF (TSMU) and iShares U.S. Insurance ETF (IAK). 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.

TSMUIAKDifference
Sharpe ratioReturn per unit of total volatility
1.32
1.17

+0.15

Sortino ratioReturn per unit of downside risk
2.01
1.72

+0.29

Omega ratioGain probability vs. loss probability

1.24

1.21

+0.03

Calmar ratioReturn relative to maximum drawdown

2.64

2.45

+0.19

Martin ratioReturn relative to average drawdown

8.05

5.96

+2.08

TSMU vs. IAK - Sharpe Ratio Comparison

The current TSMU Sharpe Ratio is 1.32, which is comparable to the IAK Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of TSMU and IAK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

TSMU vs. IAK - Drawdown Comparison

The maximum TSMU drawdown since its inception was -63.73%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for TSMU and IAK.

Loading charts...

Drawdown Indicators

TSMUIAKDifference

Max Drawdown

Largest peak-to-trough decline

-63.73%

-77.38%

+13.65%

Max Drawdown (1Y)

Largest decline over 1 year

-40.67%

-7.62%

-33.05%

Max Drawdown (3Y)

Largest decline over 3 years

—

-11.58%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-14.76%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.95%

—

Current Drawdown

Current decline from peak

-30.97%

-3.23%

-27.74%

Average Drawdown

Average peak-to-trough decline

-16.13%

-16.01%

-0.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.35%

3.13%

+10.22%

Volatility

TSMU vs. IAK - Volatility Comparison

GraniteShares 2x Long TSM Daily ETF (TSMU) has a higher volatility of 28.06% compared to iShares U.S. Insurance ETF (IAK) at 7.03%. This indicates that TSMU's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

TSMUIAKDifference

Volatility (1M)

Calculated over the trailing 1-month period

28.06%

7.03%

+21.03%

Volatility (6M)

Calculated over the trailing 6-month period

66.24%

12.43%

+53.81%

Volatility (1Y)

Calculated over the trailing 1-year period

81.66%

16.00%

+65.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

84.08%

18.13%

+65.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

84.08%

20.92%

+63.16%

TSMU vs. IAK - Expense Ratio Comparison

TSMU has a 1.50% expense ratio, which is higher than IAK's 0.38% expense ratio.

Dividends

TSMU vs. IAK - Dividend Comparison

TSMU has not paid dividends to shareholders, while IAK's dividend yield for the trailing twelve months is around 2.43%.

PositionTTM20252024202320222021202020192018201720162015
IAK
iShares U.S. Insurance ETF		2.43%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%
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 IAK have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TSMU has higher volatility (28.06%) compared to IAK (7.03%). In terms of maximum drawdown, TSMU dropped -63.73% vs IAK's -77.38%.

On 1-year performance, TSMU leads with 118.59% vs 19.63% for IAK. On fees, IAK is cheaper at 0.38% per year. On volatility, IAK has been the lower-risk option at 7.03%. 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 118.59% return vs 19.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAK is cheaper with a 0.38% expense ratio, compared with 1.50% for TSMU.

IAK has the higher dividend yield at 2.43%, compared with 0.00% for TSMU.

TSMU is categorized as Leveraged Equities, while IAK is Financials Equities. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.50% for TSMU and 0.38% for IAK.

TSMU currently has the higher Sharpe Ratio (1.32 vs 1.17), 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.

Portfolio Optimizer

Find the right allocation for TSMU and IAK

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer