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TSMU

GradeCNASDAQ Global Market

GraniteShares 2x Long TSM Daily ETF

Leveraged · Single-Stock Leveraged · GraniteShares · Inception 2024-11-11

This 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.

$74.53−2.57 (−3.33%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Nov 12, 2024.
Intraday session: down, 58 prints from 77.10 to 74.53. Range 73.93 to 76.50. Use the arrow keys to read each point.$74.00$75.00$76.0010 AM12 PM2 PM4 PM
Expense ratio
2.45%
Fund size
$48M
1Y return
+102.9%
Yield · Last 12 months
—
Holdings
2
Volume · 30D
0.1M sh
NAV per share
$74.83
52W range
low $34.51high $93.29

The ETF.net TSMU Grade

C

42/ 100

Rank 120 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for TSMU. Scores out of 100: Cost 2, Risk 85, Mission 97, Tradability 71, Holdings not scored, Durability 77. Strongest: Mission (97). Weakest: Cost (2). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 2
    Category rank372/380 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 97
    Category rank23/147 · top 16%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 85
    Category rank12/285 · top 4%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 71
    Category rank82/380 · top 22%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 77
    Category rank32/380 · top 8%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

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 Sep 21, 2026, 4:09 AM
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
TSM SWAP66.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TSM SWAP66.65%208,038$90M1
002—US Dollars33.35%44,794,409$45M85

Showing 1–2 of 2 holdings

TSMU Performance

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

TSMU$20,289
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. TSMU $20,289. SPY $11,723. Use the arrow keys to read each point.$8,352$16,898$25,445Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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+75.9%
1 month+14.7%
3 months−14.0%
1 year+102.9%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per 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+75.9%
2025+74.8%
2024+3.0%

History from Nov 12, 2024

TSMU in the news

ETF.net Research hasn’t filed on TSMU yet — coverage lands here as it’s written.

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.
73.0%
Annualised · 21 months to Aug 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.
1.16
vs 3-month T-bills · 21 months to Aug 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%
22 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.
3.52
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%

320 of the 329 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.