TSMX vs. USD
TSMX (Direxion Daily TSM Bull 2X Shares) and USD (ProShares Ultra Semiconductors) are both Leveraged Equities funds. TSMX is actively managed, while USD is passively managed. Over the past year, TSMX returned 129.25% vs 92.29% for USD. Their 0.74 correlation means they have sometimes moved together and sometimes differently. TSMX charges 1.05%/yr vs 0.95%/yr for USD.
Performance
TSMX vs. USD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TSMX having a 48.80% return and USD slightly higher at 50.25%.
TSMX
- 1D
- 0.30%
- 1M
- -15.56%
- 6M
- 28.30%
- YTD
- 48.80%
- 1Y
- 129.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 87.80%
USD
- 1D
- 1.44%
- 1M
- -10.08%
- 6M
- 34.80%
- YTD
- 50.25%
- 1Y
- 92.29%
- 3Y*
- 87.71%
- 5Y*
- 55.02%
- 10Y*
- 54.19%
- ALL TIME*
- 28.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.36M | $73.43M | $83.39M | |
| $68.86M | $72.62M | $95.81M |
TSMX vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TSMX Direxion Daily TSM Bull 2X Shares | 48.80% | 81.48% | 16.84% |
USD ProShares Ultra Semiconductors | 50.25% | 62.08% | 12.92% |
Correlation
The correlation between TSMX and USD is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024 | 0.74 |
The correlation between TSMX and USD has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.
TSMX vs. USD - Sectors Allocation Comparison
Sectors
TSMX
USD
Technology
Basic Materials
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-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Financial Services
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Utilities
-
-
Technology
TSMX
USD
Basic Materials
TSMX
-
USD
-
Communication Services
TSMX
-
USD
-
Consumer Cyclical
TSMX
-
USD
-
Consumer Defensive
TSMX
-
USD
-
Energy
TSMX
-
USD
Financial Services
TSMX
-
USD
Healthcare
TSMX
-
USD
-
Industrials
TSMX
-
USD
-
Real Estate
TSMX
-
USD
-
Utilities
TSMX
-
USD
-
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Return for Risk
TSMX vs. USD — Risk / Return Rank
TSMX
USD
TSMX vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSM Bull 2X Shares (TSMX) and ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 2.16 | +0.77 |
| Martin ratioReturn relative to average drawdown | 8.89 | 6.21 | +2.68 |
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Drawdowns
TSMX vs. USD - Drawdown Comparison
The maximum TSMX drawdown since its inception was -63.80%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for TSMX and USD.
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Drawdown Indicators
| TSMX | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.80% | -88.63% | +24.83% |
Max Drawdown (1Y)Largest decline over 1 year | -39.94% | -39.33% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | — | -64.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.85% | — |
Current DrawdownCurrent decline from peak | -30.40% | -30.59% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -15.95% | -32.23% | +16.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.13% | 13.62% | -0.49% |
Volatility
TSMX vs. USD - Volatility Comparison
Direxion Daily TSM Bull 2X Shares (TSMX) and ProShares Ultra Semiconductors (USD) have volatilities of 27.37% and 28.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSMX | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.37% | 28.19% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 66.13% | 61.13% | +5.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 81.69% | 73.80% | +7.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.12% | 78.73% | +5.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 84.12% | 70.38% | +13.74% |
TSMX vs. USD - Expense Ratio Comparison
TSMX has a 1.05% expense ratio, which is higher than USD's 0.95% expense ratio.
Dividends
TSMX vs. USD - Dividend Comparison
TSMX's dividend yield for the trailing twelve months is around 5.70%, more than USD's 0.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSMX Direxion Daily TSM Bull 2X Shares | 5.70% | 8.01% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.39% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
TSMX and USD have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (28.19%) compared to TSMX (27.37%). In terms of maximum drawdown, TSMX dropped -63.80% vs USD's -88.63%.
On 1-year performance, TSMX leads with 129.25% vs 92.29% for USD. On fees, USD is cheaper at 0.95% per year. On volatility, TSMX has been the lower-risk option at 27.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TSMX has performed better with a 129.25% return vs 92.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USD is cheaper with a 0.95% expense ratio, compared with 1.05% for TSMX.
TSMX has the higher dividend yield at 5.70%, compared with 0.39% for USD.
They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.05% for TSMX and 0.95% for USD.
TSMX currently has the higher Sharpe Ratio (1.43 vs 1.15), 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.
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