TSMX vs. MSTY

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily TSM Bull 2X Shares (TSMX) and YieldMax™ MSTR Option Income Strategy ETF (MSTY).

TSMX and MSTY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TSMX is an actively managed fund by Direxion. It was launched on Oct 3, 2024. MSTY is an actively managed fund by YieldMax. It was launched on Feb 21, 2024.

Performance

TSMX vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSM Bull 2X Shares (TSMX) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). The values are adjusted to include any dividend payments, if applicable.

TSMX vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSMX Direxion Daily TSM Bull 2X Shares	16.15%	81.48%	14.76%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-13.58%	-42.71%	51.06%

Returns By Period

In the year-to-date period, TSMX achieves a 16.15% return, which is significantly higher than MSTY's -13.58% return.

TSMX

• 1D: 13.81%
• 1M: -20.58%
• YTD: 16.15%
• 6M: 30.27%
• 1Y: 227.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: 2.45%
• 1M: -1.67%
• YTD: -13.58%
• 6M: -54.23%
• 1Y: -48.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSMX vs. MSTY - Expense Ratio Comparison

TSMX has a 1.05% expense ratio, which is higher than MSTY's 0.99% expense ratio.

TSMX

Direxion Daily TSM Bull 2X Shares

MSTY

YieldMax™ MSTR Option Income Strategy ETF

Return for Risk

TSMX vs. MSTY — Risk / Return Rank

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

TSMX

TSMX Risk / Return Rank: 96
TSMX Sharpe Ratio Rank: 97
TSMX Sortino Ratio Rank: 95
TSMX Omega Ratio Rank: 91
TSMX Calmar Ratio Rank: 98
TSMX Martin Ratio Rank: 97

MSTY

MSTY Risk / Return Rank: 2
MSTY Sharpe Ratio Rank: 2
MSTY Sortino Ratio Rank: 2
MSTY Omega Ratio Rank: 2
MSTY Calmar Ratio Rank: 2
MSTY Martin Ratio Rank: 3

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. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSM Bull 2X Shares (TSMX) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). 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	MSTY	Difference
Sharpe ratio Return per unit of total volatility	2.95	-0.77	+3.72
Sortino ratio Return per unit of downside risk	3.08	-1.05	+4.13
Omega ratio Gain probability vs. loss probability	1.39	0.88	+0.51
Calmar ratio Return relative to maximum drawdown	6.59	-0.68	+7.27
Martin ratio Return relative to average drawdown	20.50	-1.22	+21.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSMX vs. MSTY - Sharpe Ratio Comparison

The current TSMX Sharpe Ratio is 2.95, which is higher than the MSTY Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of TSMX and MSTY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TSMX	MSTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	-0.77	+3.72
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.29	+0.72

Correlation

The correlation between TSMX and MSTY is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TSMX vs. MSTY - Dividend Comparison

TSMX's dividend yield for the trailing twelve months is around 7.11%, less than MSTY's 298.73% yield.

	TTM	2025	2024
TSMX Direxion Daily TSM Bull 2X Shares	7.11%	8.01%	0.53%
MSTY YieldMax™ MSTR Option Income Strategy ETF	298.73%	294.61%	104.56%

Drawdowns

TSMX vs. MSTY - Drawdown Comparison

The maximum TSMX drawdown since its inception was -63.80%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for TSMX and MSTY.

Drawdown Indicators

	TSMX	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-63.80%	-71.79%	+7.99%
Max Drawdown (1Y) Largest decline over 1 year	-34.93%	-71.79%	+36.86%
Current Drawdown Current decline from peak	-25.94%	-66.02%	+40.08%
Average Drawdown Average peak-to-trough decline	-16.74%	-23.37%	+6.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.22%	40.02%	-28.80%

Volatility

TSMX vs. MSTY - Volatility Comparison

Direxion Daily TSM Bull 2X Shares (TSMX) has a higher volatility of 29.06% compared to YieldMax™ MSTR Option Income Strategy ETF (MSTY) at 14.90%. This indicates that TSMX's price experiences larger fluctuations and is considered to be riskier than MSTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMX	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.06%	14.90%	+14.16%
Volatility (6M) Calculated over the trailing 6-month period	54.61%	48.86%	+5.75%
Volatility (1Y) Calculated over the trailing 1-year period	77.49%	63.88%	+13.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.26%	72.67%	+8.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.26%	72.67%	+8.59%