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Launched

Direxion Daily TSM Bull 2X ETF

TSMXNasdaqDirexionBThis 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.

$67.15−2.70 (−3.87%)

At close: Nov 2, 2026, 4:00 PM ET

B63/ 100

Rank 25 of 380 in Single-Stock Long Leveraged

B63/100Rank 25 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 69.85 to 67.15. Range 67.15 to 72.60. Use the arrow keys to read each point.68.0069.0071.0072.0010 AM12 PM2 PM4 PM
Expense ratio
0.99%
Fund size
$553M
1Y total return
+42.1%
Yield · Last 12 months
6.13%
Holdings
9
Avg volume · 30D
626K sh
52W range
low $40.92high $106.32
Launched

The ETF.net TSMX Grade

Based on 5 of 6 pillars

B

Score 63 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
25 of 380
Six-pillar profile for TSMX. Scores out of 100: Cost 48, Risk 84, Mission 97, Tradability 65, Holdings not scored, Durability 86. Strongest: Mission (97). Weakest: Cost (48). Based on 5 of 6 pillars.

Score 63 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.
    C48 out of 100
    Rank 182 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A97 out of 100
    Rank 19 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A84 out of 100
    Rank 23 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B65 out of 100
    Rank 102 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.
    A86 out of 100
    Rank 4 of 380

Our read on TSMX

ETF.net Research

In short

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.

Stated mandate

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 Performance

Launched Oct 3, 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.
TSMX$14,209
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TSMX $14,209. SPY $11,199. Use the arrow keys to read each point.$10,000$15,000$20,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 TSMX. Periods over one year show the average yearly return.
PeriodTSMX
Year to date+43.1%
1 month−22.6%
3 months−3.9%
1 year+42.1%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 TSMX
YearReturn barTSMX
2026 YTD+43.1%
2025+80.8%
2024+14.7%

Since listing, Oct 3, 2024

TSMX in the news

TSMX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
6.13%Last 12 months
Payout per share
$4.28Last 12 months
Last payment
$0.32 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2024–2026

One bar per payment. 9 payments from 2024 to 2026 YTD. Dec 23, 2024 $0.16; Mar 25, 2025 $0.14; Jun 24, 2025 $0.26; Sep 23, 2025 $0.19; Dec 10, 2025 $3.11; Dec 23, 2025 $0.26; Mar 24, 2026 $0.24; Jun 23, 2026 $0.36; Sep 22, 2026 $0.32. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.32
Jun 23, 2026Jun 30, 2026$0.36
Mar 24, 2026Mar 31, 2026$0.24
Dec 23, 2025Dec 31, 2025$0.26
Dec 10, 2025Dec 17, 2025$3.11
Sep 23, 2025Sep 30, 2025$0.19
Jun 24, 2025Jul 1, 2025$0.26
Mar 25, 2025Apr 1, 2025$0.14
Dec 23, 2024Dec 31, 2024$0.16

$10,000 in TSMX 1 year ago paid $809 in dividends.

TSMX Risk

Risk pillarA84 out of 100Rank 23 of 368 in Single-Stock Long Leveraged

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.
73.2%
Annualised · 24 months to Oct 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.
0.98
vs 3-month T-bills · 24 months to Oct 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.
−63.8%
24 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.
3.06
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.

FMP measures it over up to five years of monthly returns.

TSMX Cost

Compare TSMX and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$14,370

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TSMX 0.99%

    $18,525

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • TSMX 0.99%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TSMX $18,525GOGL $4,155

Year by year

YearTSMXGOGLOverpaying
10$1,746$365$1,381
20$6,565$1,421$5,144
30$18,525$4,155$14,370

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