TSMX vs. CRMU

Last updated Jun 24, 2026

TSMX (Direxion Daily TSM Bull 2X Shares) and CRMU (Leverage Shares 2X Long CRML Daily ETF) are both Leveraged Equities funds. TSMX is actively managed, while CRMU is passively managed. A 0.58 correlation means they provide meaningful diversification when combined. TSMX charges 1.05%/yr vs 0.75%/yr for CRMU.

Performance

TSMX vs. CRMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSM Bull 2X Shares (TSMX) and Leverage Shares 2X Long CRML Daily ETF (CRMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TSMX

• 1D: -13.50%
• 1M: 12.92%
• YTD: 80.35%
• 6M: 88.28%
• 1Y: 240.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CRMU

• 1D: -13.83%
• 1M: -28.54%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSMX vs. CRMU - Yearly Performance Comparison

	2026 (YTD)
TSMX Direxion Daily TSM Bull 2X Shares	35.74%
CRMU Leverage Shares 2X Long CRML Daily ETF	-64.46%

Correlation

The correlation between TSMX and CRMU 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 (All Time) Calculated using the full available price history since Feb 10, 2026	0.58

Return for Risk

TSMX vs. CRMU — Risk / Return Rank

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

TSMX

TSMX Risk / Return Rank: 85
TSMX Sharpe Ratio Rank: 93
TSMX Sortino Ratio Rank: 75
TSMX Omega Ratio Rank: 69
TSMX Calmar Ratio Rank: 94
TSMX Martin Ratio Rank: 92

CRMU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TSMX vs. CRMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSM Bull 2X Shares (TSMX) and Leverage Shares 2X Long CRML Daily ETF (CRMU). 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.

	TSMX	CRMU	Difference
Sharpe ratio: Return per unit of total volatility	3.15	—	—
Sortino ratio: Return per unit of downside risk	3.15	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	6.92	—	—
Martin ratio: Return relative to average drawdown	22.13	—	—

Drawdowns

TSMX vs. CRMU - Drawdown Comparison

The maximum TSMX drawdown since its inception was -63.80%, smaller than the maximum CRMU drawdown of -73.81%. Use the drawdown chart below to compare losses from any high point for TSMX and CRMU.

Drawdown Indicators

	TSMX	CRMU	Difference
Max Drawdown Largest peak-to-trough decline	-63.80%	-73.81%	+10.01%
Max Drawdown (1Y) Largest decline over 1 year	-34.93%	—	—
Current Drawdown Current decline from peak	-13.50%	-64.46%	+50.96%
Average Drawdown Average peak-to-trough decline	-15.59%	-46.63%	+31.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.90%	—	—

Volatility

Volatility by Period

	TSMX	CRMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	60.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	76.69%	246.03%	-169.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.69%	246.03%	-163.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.69%	246.03%	-163.34%

TSMX vs. CRMU - Expense Ratio Comparison

TSMX has a 1.05% expense ratio, which is higher than CRMU's 0.75% expense ratio.

Dividends

TSMX vs. CRMU - Dividend Comparison

TSMX's dividend yield for the trailing twelve months is around 4.58%, while CRMU has not paid dividends to shareholders.

Position	TTM	2025	2024
CRMU Leverage Shares 2X Long CRML Daily ETF	0.00%	0.00%	0.00%
TSMX Direxion Daily TSM Bull 2X Shares	4.58%	8.01%	0.53%

Frequently Asked Questions

Can I hold both TSMX and CRMU in my portfolio?

TSMX and CRMU 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 ETF is better, TSMX or CRMU?

On fees, CRMU is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSMX or CRMU?

CRMU is cheaper with a 0.75% expense ratio, compared with 1.05% for TSMX.

Which ETF pays a higher dividend yield, TSMX or CRMU?

TSMX has the higher dividend yield at 4.58%, compared with 0.00% for CRMU.

What is the main difference between TSMX and CRMU?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.05% for TSMX and 0.75% for CRMU.