TSXU vs. TRFM

Last updated Jun 4, 2026

TSXU (Direxion Daily Semiconductors Top 5 Bull 2X Shares) and TRFM (AAM Transformers ETF) are both exchange-traded funds - TSXU is a Leveraged Equities fund tracking the Solactive Semiconductor Top 5 Index (2x), while TRFM is a Technology Equities fund tracking the Pence Transformers Index - Benchmark TR Gross. Both are passively managed. Their correlation of 0.80 suggests significant overlap in exposure. TSXU charges 1.05%/yr vs 0.49%/yr for TRFM.

Performance

TSXU vs. TRFM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU) and AAM Transformers ETF (TRFM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSXU achieves a 141.91% return, which is significantly higher than TRFM's 30.30% return.

TSXU

• 1D: -0.92%
• 1M: 66.50%
• YTD: 141.91%
• 6M: 130.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TRFM

• 1D: -1.23%
• 1M: 12.40%
• YTD: 30.30%
• 6M: 29.25%
• 1Y: 53.69%
• 3Y*: 31.63%
• 5Y*: —
• 10Y*: —

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

TSXU vs. TRFM - Yearly Performance Comparison

	2026 (YTD)	2025
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	141.91%	13.59%
TRFM AAM Transformers ETF	30.30%	-2.35%

Correlation

The correlation between TSXU and TRFM is 0.80, 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 2, 2025	0.80

Return for Risk

TSXU vs. TRFM — Risk / Return Rank

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

TRFM

TRFM Risk / Return Rank: 71
TRFM Sharpe Ratio Rank: 74
TRFM Sortino Ratio Rank: 65
TRFM Omega Ratio Rank: 64
TRFM Calmar Ratio Rank: 80
TRFM Martin Ratio Rank: 74

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.

TSXU vs. TRFM - 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 AAM Transformers ETF (TRFM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TSXU	TRFM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.53	1.05	+3.48

Drawdowns

TSXU vs. TRFM - Drawdown Comparison

The maximum TSXU drawdown since its inception was -35.62%, which is greater than TRFM's maximum drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for TSXU and TRFM.

Drawdown Indicators

	TSXU	TRFM	Difference
Max Drawdown Largest peak-to-trough decline	-35.62%	-28.40%	-7.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.99%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-28.40%	—
Current Drawdown Current decline from peak	-0.92%	-1.23%	+0.31%
Average Drawdown Average peak-to-trough decline	-10.56%	-6.61%	-3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.82%	—

Volatility

Volatility by Period

	TSXU	TRFM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	78.68%	22.47%	+56.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.68%	26.94%	+51.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.68%	26.94%	+51.74%

TSXU vs. TRFM - Expense Ratio Comparison

TSXU has a 1.05% expense ratio, which is higher than TRFM's 0.49% expense ratio.

Dividends

TSXU vs. TRFM - Dividend Comparison

TSXU's dividend yield for the trailing twelve months is around 1.20%, more than TRFM's 0.13% yield.

Position	TTM	2025
TRFM AAM Transformers ETF	0.13%	0.17%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	1.20%	2.54%

Frequently Asked Questions

Can I hold both TSXU and TRFM in my portfolio?

TSXU and TRFM have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSXU or TRFM?

On fees, TRFM is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSXU or TRFM?

TRFM is cheaper with a 0.49% expense ratio, compared with 1.05% for TSXU.

Which ETF pays a higher dividend yield, TSXU or TRFM?

TSXU has the higher dividend yield at 1.20%, compared with 0.13% for TRFM.

What is the main difference between TSXU and TRFM?

TSXU is categorized as Leveraged Equities, while TRFM is Technology Equities. TSXU tracks Solactive Semiconductor Top 5 Index (2x), while TRFM tracks Pence Transformers Index - Benchmark TR Gross. They also come from different issuers: Direxion and AAM. Their fees differ too: 1.05% for TSXU and 0.49% for TRFM.