Direxion Daily TSM Bull 2X ETF
$86.70−2.08 (−2.34%)
- Expense ratio
- 0.99%
- Fund size
- $565M
- 1Y return
- +112.4%
- Yield · Last 12 months
- 5.04%
- Holdings
- 9
- Volume · 30D
- 0.8M sh
- NAV per share
- $80.94
- 52W range
The ETF.net TSMX Grade
Score 63 of 100 sits in the B 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.CScore 51Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 98Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 85Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 62Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 86Category rank
Our read on TSMX
BDouble-speed Taiwan Semiconductor, one trading day at a time. TSMX aims to deliver 200% of the stock's daily move, resets every night, and charges a fraction of what the only other 2x TSM bull fund does.
The fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of Taiwan Semiconductor Manufacturing Co Ltd common shares. It is designed for a single day and does not seek to provide that multiple over longer periods.
Why people hold it
- At 0.99% a year it undercuts the only other 2x TSM bull ETF (TSMU, at 2.45%), so less of each day's gross move disappears into the fee.
- Stays close to its stated 200%-of-daily-move target, one of the tighter implementations among leveraged single-stock funds.
- Actively traded for a leveraged single-stock fund, which matters when the whole design assumes same-day entries and exits.
- The leverage sits inside the fund wrapper: no margin account to open, no stock to borrow, and no exposure beyond the amount invested.direxion.com
Worth knowing
- The 200% target covers a single day. Hold longer and compounding takes over, so multi-day results can drift far from twice Taiwan Semiconductor's move.
- Cheap for this cohort, but 0.99% a year is heavy next to plain index funds, and it accrues whether the stock rises or falls.
- One company, doubled: no diversification cushion, so anything specific to Taiwan Semiconductor lands at twice the size. The fund itself only dates to 2024.
TSMX Holdings
- Stocks
- 9
- 100%
- TSM SWAP ASSET LEG (TSMGSL)
Sectors
- Technology100.0%
Geography
- Taiwan100.00%
TSMX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | TSMX |
|---|---|
| Year to date | +81.9% |
| 1 month | +15.0% |
| 3 months | −12.8% |
| 1 year | +112.4% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TSMX |
|---|---|---|
| 2026 YTD | +81.9% | |
| 2025 | +80.8% | |
| 2024 | +14.7% |
TSMX in the news
ETF.net Research hasn’t filed on TSMX yet — coverage lands here as it’s written.
TSMX Dividends
- 5.04%
- $4.48
- $0.32 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 22, 2026 | Pays Sep 29, 2026 | $0.32 |
| Jun 23, 2026 | Jun 30, 2026 | $0.36 |
| Mar 24, 2026 | Mar 31, 2026 | $0.24 |
| Dec 23, 2025 | Dec 31, 2025 | $0.26 |
| Dec 10, 2025 | Dec 17, 2025 | $3.11 |
| Sep 23, 2025 | Sep 30, 2025 | $0.19 |
| Jun 24, 2025 | Jul 1, 2025 | $0.26 |
| Mar 25, 2025 | Apr 1, 2025 | $0.14 |
| Dec 23, 2024 | Dec 31, 2024 | $0.16 |
TSMX 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.
- 72.7%
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.
- 1.11
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.
- −63.8%
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.
- 3.17
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TSMX Cost
- The middle half of Single-Stock Long Leveraged funds
- Median 0.98%
165 of the 329 Single-Stock Long Leveraged funds charge less.