TSXU vs. SMH
TSXU (Direxion Daily Semiconductors Top 5 Bull 2X Shares) and SMH (VanEck Semiconductor ETF) are both exchange-traded funds - TSXU is a Leveraged Equities fund tracking the Solactive Semiconductor Top 5 Index (2x), while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. TSXU charges 1.05%/yr vs 0.35%/yr for SMH.
Performance
TSXU vs. SMH - Performance Comparison
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Returns By Period
In the year-to-date period, TSXU achieves a 113.38% return, which is significantly higher than SMH's 72.73% return.
TSXU
- 1D
- -13.73%
- 1M
- 19.65%
- YTD
- 113.38%
- 6M
- 118.38%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH
- 1D
- -7.01%
- 1M
- 7.93%
- YTD
- 72.73%
- 6M
- 71.29%
- 1Y
- 138.23%
- 3Y*
- 62.28%
- 5Y*
- 38.18%
- 10Y*
- 37.85%
TSXU vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares | 113.38% | 37.96% |
SMH VanEck Semiconductor ETF | 72.73% | 10.69% |
Correlation
The correlation between TSXU and SMH is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025 | 0.90 |
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Return for Risk
TSXU vs. SMH — Risk / Return Rank
TSXU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SMH
TSXU vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU) and VanEck Semiconductor ETF (SMH). 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.
| TSXU | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.58 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 9.31 | — |
| Martin ratioReturn relative to average drawdown | — | 33.88 | — |
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Drawdowns
TSXU vs. SMH - Drawdown Comparison
The maximum TSXU drawdown since its inception was -35.62%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for TSXU and SMH.
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Drawdown Indicators
| TSXU | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -84.96% | +49.34% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.93% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.74% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.30% | — |
Current DrawdownCurrent decline from peak | -13.73% | -7.01% | -6.72% |
Average DrawdownAverage peak-to-trough decline | -10.67% | -41.01% | +30.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.10% | — |
Volatility
TSXU vs. SMH - Volatility Comparison
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Volatility by Period
| TSXU | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 19.08% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 29.18% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 89.70% | 34.87% | +54.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.70% | 35.83% | +53.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.70% | 32.97% | +56.73% |
TSXU vs. SMH - Expense Ratio Comparison
TSXU has a 1.05% expense ratio, which is higher than SMH's 0.35% expense ratio.
Dividends
TSXU vs. SMH - Dividend Comparison
TSXU's dividend yield for the trailing twelve months is around 1.36%, more than SMH's 0.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 0.18% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares | 1.36% | 2.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.90, TSXU and SMH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SMH is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMH is cheaper with a 0.35% expense ratio, compared with 1.05% for TSXU.
TSXU has the higher dividend yield at 1.36%, compared with 0.18% for SMH.
TSXU is categorized as Leveraged Equities, while SMH is Semiconductors. TSXU tracks Solactive Semiconductor Top 5 Index (2x), while SMH tracks MVIS US Listed Semiconductor 25 Index. They also come from different issuers: Direxion and VanEck. Their fees differ too: 1.05% for TSXU and 0.35% for SMH.
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