TSXU vs. TSMG

Last updated Jun 24, 2026

TSXU (Direxion Daily Semiconductors Top 5 Bull 2X Shares) and TSMG (Leverage Shares 2X Long TSM Daily ETF) are both Leveraged Equities funds. TSXU is passively managed, while TSMG is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. TSXU charges 1.05%/yr vs 0.75%/yr for TSMG.

Performance

TSXU vs. TSMG - 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 Leverage Shares 2X Long TSM Daily ETF (TSMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSXU achieves a 113.38% return, which is significantly higher than TSMG's 80.39% return.

TSXU

• 1D: -13.73%
• 1M: 19.65%
• YTD: 113.38%
• 6M: 118.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMG

• 1D: -13.49%
• 1M: 12.90%
• YTD: 80.39%
• 6M: 88.25%
• 1Y: 241.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSXU vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	113.38%	37.96%
TSMG Leverage Shares 2X Long TSM Daily ETF	80.39%	12.20%

Correlation

The correlation between TSXU and TSMG is 0.81, 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	0.81

Return for Risk

TSXU vs. TSMG — Risk / Return Rank

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

TSXU

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

TSMG

TSMG Risk / Return Rank: 85
TSMG Sharpe Ratio Rank: 93
TSMG Sortino Ratio Rank: 75
TSMG Omega Ratio Rank: 70
TSMG Calmar Ratio Rank: 94
TSMG Martin Ratio Rank: 92

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. TSMG - 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 Leverage Shares 2X Long TSM Daily ETF (TSMG). 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	TSMG	Difference
Sharpe ratio: Return per unit of total volatility	—	3.17	—
Sortino ratio: Return per unit of downside risk	—	3.15	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	6.90	—
Martin ratio: Return relative to average drawdown	—	22.04	—

Drawdowns

TSXU vs. TSMG - Drawdown Comparison

The maximum TSXU drawdown since its inception was -35.62%, smaller than the maximum TSMG drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for TSXU and TSMG.

Drawdown Indicators

	TSXU	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-35.62%	-63.67%	+28.05%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.29%	—
Current Drawdown Current decline from peak	-13.73%	-13.49%	-0.24%
Average Drawdown Average peak-to-trough decline	-10.67%	-16.65%	+5.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.03%	—

Volatility

Volatility by Period

	TSXU	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	33.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	60.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	89.70%	76.78%	+12.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.70%	83.21%	+6.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.70%	83.21%	+6.49%

TSXU vs. TSMG - Expense Ratio Comparison

TSXU has a 1.05% expense ratio, which is higher than TSMG's 0.75% expense ratio.

Dividends

TSXU vs. TSMG - Dividend Comparison

TSXU's dividend yield for the trailing twelve months is around 1.36%, less than TSMG's 6.37% yield.

Position	TTM	2025
TSMG Leverage Shares 2X Long TSM Daily ETF	6.37%	11.48%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	1.36%	2.54%

Frequently Asked Questions

Can I hold both TSXU and TSMG in my portfolio?

TSXU and TSMG have a correlation of 0.81, 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 TSMG?

On fees, TSMG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSXU or TSMG?

TSMG is cheaper with a 0.75% expense ratio, compared with 1.05% for TSXU.

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

TSMG has the higher dividend yield at 6.37%, compared with 1.36% for TSXU.

What is the main difference between TSXU and TSMG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.05% for TSXU and 0.75% for TSMG.