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Launched

GraniteShares 2x Long TSM Daily ETF

TSMUNasdaqCThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$73.64+0.01 (+0.02%)

At close: Oct 13, 2026, 4:00 PM

C43/ 100

Rank 116 of 380 in Single-Stock Long Leveraged

C43/100Rank 116 of 380inSingle-Stock Long Leveraged
Intraday session: up, 78 prints from 73.63 to 73.64. Range 71.25 to 73.80. Use the arrow keys to read each point.71.5072.0072.5073.0010 AM12 PM2 PM4 PM
Expense ratio
2.45%
Fund size
$43M
1Y total return
+86.4%
Yield · Last 12 months
—
Holdings
2
Avg volume · 30D
0.1M sh
NAV per share
$73.55
52W range
low $34.51high $93.29
Launched

The ETF.net TSMU Grade

Based on 5 of 6 pillars

C

Score 43 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
116 of 380
Six-pillar profile for TSMU. Scores out of 100: Cost 2, Risk 82, Mission 100, Tradability 78, Holdings not scored, Durability 77. Strongest: Mission (100). Weakest: Cost (2). Based on 5 of 6 pillars.

Score 43 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F2 out of 100
    Rank 372 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 148

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A82 out of 100
    Rank 28 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A78 out of 100
    Rank 50 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A77 out of 100
    Rank 27 of 380

Our read on TSMU

ETF.net Research

CTwo US ETFs aim at twice Taiwan Semiconductor's daily move, and this is one of them. Straight 2x daily exposure to the world's largest contract chipmaker, at a fee that sits well above the leveraged single-stock norm.

Stated mandate

The fund seeks daily, before-fee-and-expense investment results equal to twice the daily percentage change of Taiwan Semiconductor Manufacturing Co Ltd.

Why people hold it

  1. 01Does one thing: targets twice TSM's daily percentage change, before fees and expenses. No options overlay, no income sleeve, no stock picking.graniteshares.com
  2. 02It has hit its stated daily multiple tightly, one of the stronger implementations among 2x single-stock funds.
  3. 03Rare target. Only one other US ETF, TSMX, aims at twice TSM's daily move, and most leveraged chip products point at other names.
  4. 04The leverage sits inside the wrapper, so the 2x exposure arrives through an ordinary brokerage trade rather than a margin account.

Worth knowing

  1. 01The fee is 2.45% a year. TSMX chases the same stock at the same 2x multiple for 0.99%, and the wider 2x single-stock group typically charges around 1%.
  2. 02The multiple resets every day. Hold past one session and compounding can push the result away from twice TSM's move over that stretch, most of all in choppy markets.
  3. 03One company, doubled, and launched in 2024. TSM's own swings land twice as hard, there is no diversification cushion, and the track record is short.

TSMU Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
TSM66.7%

Sectors

  • Technology100.0%

Geography

  • Taiwan (Province of China)100.00%

Developed 0% · Emerging 100% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TSMTsm66.66%191,830$85M277
002—US Dollars33.34%42,636,664$43M85

Showing 1–2 of 2 holdings

TSMU Performance

Launched Nov 11, 2024

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
TSMU$18,636
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. TSMU $18,636. SPY $12,044. Use the arrow keys to read each point.$8,345$16,397$24,449Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for TSMU. Periods over one year show the average yearly return.
PeriodTSMU
Year to date+68.0%
1 month+3.8%
3 months−2.0%
1 year+86.4%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TSMU
YearReturn barTSMU
2026 YTD+68.0%
2025+74.8%
2024+3.0%

History from Nov 12, 2024

TSMU in the news

Filtered to TSMU · Single-Stock Long Leveraged

TSMU Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

TSMU Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
71.7%
Annualised · 22 months to Sep 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.26
vs 3-month T-bills · 22 months to Sep 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−63.7%
23 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
3.42
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

TSMU Cost

Expense ratio2.45%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

324 of the 333 Single-Stock Long Leveraged funds charge less.

TSMU costs $245.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.

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