TSMZ vs. AIS

Last updated Aug 2, 2026

TSMZ (Direxion Daily TSM Bear 1X Shares) and AIS (VistaShares Artificial Intelligence Supercycle ETF) are both exchange-traded funds - TSMZ is a Inverse Equities fund actively managed by Direxion, while AIS is a Artificial Intelligence fund actively managed by VistaShares. Both are actively managed. Over the past year, TSMZ returned -48.22% vs 119.85% for AIS. Their -0.74 correlation means they have often moved in opposite directions in the past. TSMZ charges 0.98%/yr vs 0.75%/yr for AIS.

Performance

TSMZ vs. AIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSM Bear 1X Shares (TSMZ) and VistaShares Artificial Intelligence Supercycle ETF (AIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSMZ achieves a -31.34% return, which is significantly lower than AIS's 68.71% return.

TSMZ

• 1D: -0.09%
• 1M: 5.88%
• 6M: -24.87%
• YTD: -31.34%
• 1Y: -48.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -43.42%

AIS

• 1D: 0.47%
• 1M: -14.16%
• 6M: 49.61%
• YTD: 68.71%
• 1Y: 119.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 75.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIS VistaShares Artificial Intelligence Supercycle ETF	$37.93M	$45.10M	$51.04M
TSMZ Direxion Daily TSM Bear 1X Shares	$787.65K	$1.02M	$750.23K

TSMZ vs. AIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSMZ Direxion Daily TSM Bear 1X Shares	-31.34%	-41.91%	-2.43%
AIS VistaShares Artificial Intelligence Supercycle ETF	68.71%	58.35%	-4.74%

Correlation

The correlation between TSMZ and AIS is -0.73, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	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 Dec 3, 2024	-0.74

The correlation between TSMZ and AIS has been stable across timeframes, ranging from -0.74 to -0.73 - a consistent structural relationship.

Return for Risk

TSMZ vs. AIS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSMZ

TSMZ Risk / Return Rank: 1
TSMZ Sharpe Ratio Rank: 1
TSMZ Sortino Ratio Rank: 1
TSMZ Omega Ratio Rank: 1
TSMZ Calmar Ratio Rank: 2
TSMZ Martin Ratio Rank: 2

AIS

AIS Risk / Return Rank: 87
AIS Sharpe Ratio Rank: 92
AIS Sortino Ratio Rank: 83
AIS Omega Ratio Rank: 85
AIS Calmar Ratio Rank: 86
AIS Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSMZ vs. AIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSM Bear 1X Shares (TSMZ) and VistaShares Artificial Intelligence Supercycle ETF (AIS). 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.

	TSMZ	AIS	Difference
Sharpe ratio: Return per unit of total volatility	-1.15	2.42	-3.57
Sortino ratio: Return per unit of downside risk	-1.75	2.72	-4.47
Omega ratio: Gain probability vs. loss probability	0.80	1.37	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.83	3.35	-4.18
Martin ratio: Return relative to average drawdown	-1.32	13.91	-15.23

TSMZ vs. AIS - Sharpe Ratio Comparison

The current TSMZ Sharpe Ratio is -1.15, which is lower than the AIS Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of TSMZ and AIS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TSMZ vs. AIS - Drawdown Comparison

The maximum TSMZ drawdown since its inception was -74.02%, which is greater than AIS's maximum drawdown of -34.44%. Use the drawdown chart below to compare losses from any high point for TSMZ and AIS.

Drawdown Indicators

	TSMZ	AIS	Difference
Max Drawdown Largest peak-to-trough decline	-74.02%	-34.44%	-39.58%
Max Drawdown (1Y) Largest decline over 1 year	-56.52%	-34.44%	-22.08%
Current Drawdown Current decline from peak	-69.99%	-27.93%	-42.06%
Average Drawdown Average peak-to-trough decline	-40.58%	-6.30%	-34.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.46%	8.28%	+27.18%

Volatility

TSMZ vs. AIS - Volatility Comparison

The current volatility for Direxion Daily TSM Bear 1X Shares (TSMZ) is 14.51%, while VistaShares Artificial Intelligence Supercycle ETF (AIS) has a volatility of 21.48%. This indicates that TSMZ experiences smaller price fluctuations and is considered to be less risky than AIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMZ	AIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.51%	21.48%	-6.97%
Volatility (6M) Calculated over the trailing 6-month period	33.33%	43.19%	-9.86%
Volatility (1Y) Calculated over the trailing 1-year period	40.76%	47.78%	-7.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.96%	44.01%	-2.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.96%	44.01%	-2.05%

TSMZ vs. AIS - Expense Ratio Comparison

TSMZ has a 0.98% expense ratio, which is higher than AIS's 0.75% expense ratio.

Dividends

TSMZ vs. AIS - Dividend Comparison

TSMZ's dividend yield for the trailing twelve months is around 4.39%, while AIS has not paid dividends to shareholders.

Position	TTM	2025	2024
AIS VistaShares Artificial Intelligence Supercycle ETF	0.00%	0.00%	0.00%
TSMZ Direxion Daily TSM Bear 1X Shares	4.39%	4.88%	0.86%

Frequently Asked Questions

Can I hold both TSMZ and AIS in my portfolio?

TSMZ and AIS 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.

Which is riskier, TSMZ or AIS?

AIS has higher volatility (21.48%) compared to TSMZ (14.51%). In terms of maximum drawdown, TSMZ dropped -74.02% vs AIS's -34.44%.

Which ETF is better, TSMZ or AIS?

On 1-year performance, AIS leads with 119.85% vs -48.22% for TSMZ. On fees, AIS is cheaper at 0.75% per year. On volatility, TSMZ has been the lower-risk option at 14.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMZ or AIS?

Over the 1-year period, AIS has performed better with a 119.85% return vs -48.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMZ or AIS?

AIS is cheaper with a 0.75% expense ratio, compared with 0.98% for TSMZ.

Which ETF pays a higher dividend yield, TSMZ or AIS?

TSMZ has the higher dividend yield at 4.39%, compared with 0.00% for AIS.

What is the main difference between TSMZ and AIS?

TSMZ is categorized as Inverse Equities, while AIS is Artificial Intelligence. They also come from different issuers: Direxion and VistaShares. Their fees differ too: 0.98% for TSMZ and 0.75% for AIS.

Which has better risk-adjusted returns?

AIS currently has the higher Sharpe Ratio (2.42 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.