Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
Direxion Daily TSM Bull 2X ETF
BThis 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.
$85.06−0.08 (−0.09%)
- 0.99%
- $520M
- +95.3%
- 5.03%
- 0.7M sh
- $88.53
- low $40.92high $106.32
The ETF.net TSMX Grade
B
Score 65 out of 100
- 17 of 380
Score 65 of 100 falls in the B 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.C51 out of 100Rank 168 of 380Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 148Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A82 out of 100Rank 28 of 363Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A74 out of 100Rank 67 of 380Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A86 out of 100Rank 3 of 380
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%
Developed 0% · Emerging 100%
TSMX Performance
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.
TSMX$19,527
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.
| Period | TSMX |
|---|---|
| Year to date | +74.4% |
| 1 month | +4.1% |
| 3 months | −0.6% |
| 1 year | +95.3% |
| 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 | +74.4% | |
| 2025 | +80.8% | |
| 2024 | +14.7% |
TSMX in the news
TSMX Dividends
- 5.03%
- $4.28
- $0.32 per share
- Quarterly
Distribution history
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.
- 71.6%
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.
- 1.21
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.
- 3.06
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
0.99%
TSMX0.99%
- The middle half of Single-Stock Long Leveraged funds
- Median 0.98%
167 of the 333 Single-Stock Long Leveraged funds charge less.
Other funds in Single-Stock Long Leveraged
- BPYPGLeverage Shares 2x Long PYPL Daily ETFExpense ratio 0.75%1 year return −53.2%
- BSNDGLeverage Shares 2X Long SNDK Daily ETFExpense ratio 0.75%1 year return —
- BAMZUDirexion Daily AMZN Bull 2X ETFExpense ratio 0.99%1 year return +15.7%
- BBEGLeverage Shares 2x Long BE Daily ETFExpense ratio 0.75%1 year return —
- BBOEGLeverage Shares 2X Long BA Daily ETFExpense ratio 0.75%1 year return −35.9%