TSMX vs. FUTG

Last updated Jun 4, 2026

TSMX (Direxion Daily TSM Bull 2X Shares) and FUTG (Leverage Shares 2X Long FUTU Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.44 correlation, their price movements are largely independent. TSMX charges 1.05%/yr vs 0.75%/yr for FUTG.

Performance

TSMX vs. FUTG - 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 FUTU Daily ETF (FUTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSMX achieves a 85.80% return, which is significantly higher than FUTG's -75.53% return.

TSMX

• 1D: -4.27%
• 1M: 15.97%
• YTD: 85.80%
• 6M: 94.81%
• 1Y: 295.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FUTG

• 1D: -11.10%
• 1M: -70.24%
• YTD: -75.53%
• 6M: -77.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSMX vs. FUTG - Yearly Performance Comparison

	2026 (YTD)	2025
TSMX Direxion Daily TSM Bull 2X Shares	85.80%	1.71%
FUTG Leverage Shares 2X Long FUTU Daily ETF	-75.53%	-0.80%

Correlation

The correlation between TSMX and FUTG is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.44

Return for Risk

TSMX vs. FUTG — Risk / Return Rank

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

TSMX

TSMX Risk / Return Rank: 89
TSMX Sharpe Ratio Rank: 96
TSMX Sortino Ratio Rank: 83
TSMX Omega Ratio Rank: 75
TSMX Calmar Ratio Rank: 95
TSMX Martin Ratio Rank: 94

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. FUTG - 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 FUTU Daily ETF (FUTG). 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.

	TSMX	FUTG	Difference
Sharpe ratio: Return per unit of total volatility	4.15	—	—
Sortino ratio: Return per unit of downside risk	3.78	—	—
Omega ratio: Gain probability vs. loss probability	1.45	—	—
Calmar ratio: Return relative to maximum drawdown	8.51	—	—
Martin ratio: Return relative to average drawdown	27.80	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TSMX	FUTG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.15	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.57	-0.66	+2.23

Drawdowns

TSMX vs. FUTG - Drawdown Comparison

The maximum TSMX drawdown since its inception was -63.80%, smaller than the maximum FUTG drawdown of -86.19%. Use the drawdown chart below to compare losses from any high point for TSMX and FUTG.

Drawdown Indicators

	TSMX	FUTG	Difference
Max Drawdown Largest peak-to-trough decline	-63.80%	-86.19%	+22.39%
Max Drawdown (1Y) Largest decline over 1 year	-34.93%	—	—
Current Drawdown Current decline from peak	-4.27%	-84.29%	+80.02%
Average Drawdown Average peak-to-trough decline	-15.85%	-40.35%	+24.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.68%	—	—

Volatility

Volatility by Period

	TSMX	FUTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.91%	—	—
Volatility (6M) Calculated over the trailing 6-month period	54.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	71.63%	136.01%	-64.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.93%	136.01%	-55.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.93%	136.01%	-55.08%

TSMX vs. FUTG - Expense Ratio Comparison

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

Dividends

TSMX vs. FUTG - Dividend Comparison

TSMX's dividend yield for the trailing twelve months is around 4.44%, while FUTG has not paid dividends to shareholders.

Position	TTM	2025	2024
FUTG Leverage Shares 2X Long FUTU Daily ETF	0.00%	0.00%	0.00%
TSMX Direxion Daily TSM Bull 2X Shares	4.44%	8.01%	0.53%

Frequently Asked Questions

Can I hold both TSMX and FUTG in my portfolio?

TSMX and FUTG have a correlation of 0.44, 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 FUTG?

On fees, FUTG 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 FUTG?

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

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

TSMX has the higher dividend yield at 4.44%, compared with 0.00% for FUTG.

What is the main difference between TSMX and FUTG?

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