TSMU vs. IBID

Last updated Jun 3, 2026

TSMU (GraniteShares 2x Long TSM Daily ETF) and IBID (iShares iBonds Oct 2027 Term TIPS ETF) are both exchange-traded funds - TSMU is a Leveraged Equities fund actively managed by GraniteShares, while IBID is a Inflation-Protected Bonds fund tracking the ICE 2027 Maturity US Inflation-Linked Treasury Index. TSMU is actively managed, while IBID is passively managed. Over the past year, TSMU returned 302.06% vs 4.63% for IBID. At a correlation of -0.23, they often move in opposite directions. TSMU charges 1.50%/yr vs 0.10%/yr for IBID.

Performance

TSMU vs. IBID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long TSM Daily ETF (TSMU) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSMU achieves a 90.07% return, which is significantly higher than IBID's 2.38% return.

TSMU

• 1D: 4.32%
• 1M: 22.68%
• YTD: 90.07%
• 6M: 102.38%
• 1Y: 302.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBID

• 1D: 0.02%
• 1M: 0.42%
• YTD: 2.38%
• 6M: 2.53%
• 1Y: 4.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSMU vs. IBID - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSMU GraniteShares 2x Long TSM Daily ETF	90.07%	74.83%	3.04%
IBID iShares iBonds Oct 2027 Term TIPS ETF	2.38%	5.66%	0.42%

Correlation

The correlation between TSMU and IBID is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (All Time) Calculated using the full available price history since Nov 13, 2024	-0.23

Return for Risk

TSMU vs. IBID — Risk / Return Rank

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

TSMU

TSMU Risk / Return Rank: 89
TSMU Sharpe Ratio Rank: 96
TSMU Sortino Ratio Rank: 84
TSMU Omega Ratio Rank: 76
TSMU Calmar Ratio Rank: 96
TSMU Martin Ratio Rank: 94

IBID

IBID Risk / Return Rank: 96
IBID Sharpe Ratio Rank: 94
IBID Sortino Ratio Rank: 97
IBID Omega Ratio Rank: 97
IBID Calmar Ratio Rank: 97
IBID 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. IBID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long TSM Daily ETF (TSMU) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). 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.

	TSMU	IBID	Difference
Sharpe ratio Return per unit of total volatility	4.28	3.73	+0.55
Sortino ratio Return per unit of downside risk	3.83	6.39	-2.57
Omega ratio Gain probability vs. loss probability	1.46	1.88	-0.42
Calmar ratio Return relative to maximum drawdown	8.85	12.77	-3.92
Martin ratio Return relative to average drawdown	28.75	37.57	-8.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSMU vs. IBID - Sharpe Ratio Comparison

The current TSMU Sharpe Ratio is 4.28, which is comparable to the IBID Sharpe Ratio of 3.73. The chart below compares the historical Sharpe Ratios of TSMU and IBID, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TSMU	IBID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.28	3.73	+0.55
Sharpe Ratio (All Time) Calculated using the full available price history	1.53	2.55	-1.02

Drawdowns

TSMU vs. IBID - Drawdown Comparison

The maximum TSMU drawdown since its inception was -63.73%, which is greater than IBID's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for TSMU and IBID.

Drawdown Indicators

	TSMU	IBID	Difference
Max Drawdown Largest peak-to-trough decline	-63.73%	-1.28%	-62.45%
Max Drawdown (1Y) Largest decline over 1 year	-35.18%	-0.36%	-34.82%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-16.04%	-0.22%	-15.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.83%	0.12%	+10.71%

Volatility

TSMU vs. IBID - Volatility Comparison

GraniteShares 2x Long TSM Daily ETF (TSMU) has a higher volatility of 22.07% compared to iShares iBonds Oct 2027 Term TIPS ETF (IBID) at 0.32%. This indicates that TSMU's price experiences larger fluctuations and is considered to be riskier than IBID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMU	IBID	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.07%	0.32%	+21.75%
Volatility (6M) Calculated over the trailing 6-month period	54.04%	0.80%	+53.24%
Volatility (1Y) Calculated over the trailing 1-year period	71.13%	1.25%	+69.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.48%	2.26%	+78.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.48%	2.26%	+78.22%

TSMU vs. IBID - Expense Ratio Comparison

TSMU has a 1.50% expense ratio, which is higher than IBID's 0.10% expense ratio.

Dividends

TSMU vs. IBID - Dividend Comparison

TSMU has not paid dividends to shareholders, while IBID's dividend yield for the trailing twelve months is around 3.67%.

Position	TTM	2025	2024	2023
IBID iShares iBonds Oct 2027 Term TIPS ETF	3.67%	4.43%	4.24%	0.81%
TSMU GraniteShares 2x Long TSM Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSMU and IBID in my portfolio?

TSMU and IBID 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.

Which is riskier, TSMU or IBID?

TSMU has higher volatility (22.07%) compared to IBID (0.32%). In terms of maximum drawdown, TSMU dropped -63.73% vs IBID's -1.28%.

Which ETF is better, TSMU or IBID?

On 1-year performance, TSMU leads with 302.06% vs 4.63% for IBID. On fees, IBID is cheaper at 0.10% per year. On volatility, IBID has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMU or IBID?

Over the 1-year period, TSMU has performed better with a 302.06% return vs 4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMU or IBID?

IBID is cheaper with a 0.10% expense ratio, compared with 1.50% for TSMU.

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

IBID has the higher dividend yield at 3.67%, compared with 0.00% for TSMU.

What is the main difference between TSMU and IBID?

TSMU is categorized as Leveraged Equities, while IBID is Inflation-Protected Bonds. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.50% for TSMU and 0.10% for IBID.

Which has better risk-adjusted returns?

TSMU currently has the higher Sharpe Ratio (4.28 vs 3.73), 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.