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AAPB vs TSMG

GraniteShares 2x Long AAPL Daily ETF

AAPBBNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

0.0%by weight

Expense ratio

TSMG −0.45pt a year

AAPB1.21%TSMG0.76%

Avg volume · 30D

TSMG 1.4×the volume

AAPB50.5KTSMG69K

AAPB vs TSMG Performance

Oct 31, 2025 – Oct 30, 2026

+43.5%AAPB+40.8%TSMG

Oct 31, 2025 to Oct 30, 2026. AAPB +43.5%. TSMG +40.8%. Use the arrow keys to read each point.−25%0%75%100%Oct 2025Apr 2026Oct 2026
Expense ratio
AAPB 1.21%
TSMG 0.76%, better
Fund size
AAPB $18M
TSMG $28M
1Y total return
AAPB +43.5%, better
TSMG +40.8%
Yield (12M)
AAPB 3.06%
TSMG No data
Holdings
AAPB 2
TSMG 5
Avg volume (30D)
AAPB 50.5K sh
TSMG 69K sh, better
NAV per share
AAPB $47.21
TSMG $33.77
52W range

ETF.net Grade

AAPB: Cost 37, Risk 80, Mission 78, Tradability 78, Holdings not scored, Durability 75. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for AAPB, TSMG, with each pillar’s weight
PillarAAPBTSMG
Cost30% weightD37A70Higher
Mission25% weightA78A79Higher
Risk15% weightA80A84Higher
Tradability15% weightA78HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightA75HigherB67

Rank among Single-Stock Long Leveraged funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AAPB and TSMG are both graded against the same 315 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 315 funds
See all 315 ›

TSMG ranks 1st and AAPB 44th of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 37CUNHUDirexion Daily UNH Bull 2X ETFScore 60
  4. Rank 44BAAPBGraniteShares 2x Long AAPL Daily ETFScore 59
  5. Rank 44BARMWRoundhill ARM WeeklyPay ETFScore 59

Our read on each fund

ETF.net Research

AAPBBGraniteShares 2x Long AAPL Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

AAPB A day-one member of the US single-stock leverage club: listed August 2022 at 1.75x Apple, raised to 2x in January 2024. It aims to deliver twice Apple's daily move, then resets the clock every night.

TSMG Two times TSM, one day at a time. TSMG aims for 200% of Taiwan Semiconductor's daily move, no margin account required, at 0.75% a year, below what most leveraged single-stock funds charge.

Stated mandate

AAPB The Fund seeks daily investment results, before fees and expenses, equal to twice the daily percentage change of Apple’s common stock.

TSMG The fund seeks daily investment results equal to 200% of the daily performance of Taiwan Semiconductor Manufacturing Company Ltd stock, before fees and expenses.

Why people hold it

  • AAPB Aims for twice Apple's daily percentage change, then resets. The exposure you own is today's, not a stale bet left over from last month.sec.gov
  • Actively managed, building the 2x exposure from swaps, options and Apple shares themselves rather than one fixed structure.graniteshares.com
  • On the market since August 2022, one of the originals in a field that now runs to hundreds of funds, and one of the stronger implementations in that crowd.
  • The multiple is a documented, board-approved setting, not a moving target: the 1.75x to 2x change ran through an SEC prospectus supplement before it took effect.sec.gov
  • TSMG Charges 0.75% a year, undercutting the 0.96% on Direxion's 2x single-stock funds such as AAPU and GGLL.leverageshares.com
  • The milder gear on the leveraged shelf: it targets double TSM's daily move, not triple.leverageshares.com
  • Leverage arrives inside a regular 1940 Act ETF. No margin agreement, no lender, and your exposure is capped at what you put in.leverageshares.com
  • Hits its stated daily target tightly, and rates among the stronger builds in a crowded field of 2x and 3x single-stock funds.

Worth knowing

  • AAPB 1.15% net of a waiver through December 31, 2026 (1.31% gross), above the category median and above 2x peers such as TSMG at 0.76% and OKTG at 0.75%.
  • The daily reset means multi-day results compound and can diverge sharply from 2x Apple's move over the same stretch, and Apple's volatility widens that gap.sec.gov
  • GraniteShares frames it for holding periods measured in days, not years, and payouts are infrequent. A trading instrument, not an income one.graniteshares.com
  • TSMG The leverage resets every day. Hold longer and compounding takes over, so multi-day results can drift well away from twice TSM's move, especially in choppy markets.leverageshares.com
  • One stock, one industry. Everything rides on Taiwan Semiconductor, doubled, so company-specific news lands twice as hard.
  • Young and small: launched in January 2025, and it sits among the smaller, less heavily traded names on the leveraged shelf, which can widen spreads.

Full AAPB profile⁠

Full TSMG profile⁠

AAPB vs TSMG Holdings

How AAPB and TSMG differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AAPB and 0.0% of TSMG.

Level by level

  • Asset classLeveraged/Inverse, Equity0.0%
  • Holdings0 in both0.0%
  • Countryby domicile100%

Sector

No Sector split for TSMG.

Country, concentration and asset class

Country by domicile

Country weights in AAPB and TSMG, widest gap first
CountryMore in AAPBMore in TSMG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • AAPB100.0%
  • TSMG212.4%

Securities held

  • AAPB1
  • TSMG1

Asset class

AAPB
Leveraged/Inverse
TSMG
Equity

Holdings

  • Only in AAPB1
  • In both0
  • Only in TSMG1

Only in AAPB

1 security, 66.7% of AAPB by weight

  • Aapl66.66%

Only in TSMG

1 security, 12.4% of TSMG by weight

  • First American Treasury Obligations Fund 01/01/204012.41%

Weight gaps

AAPB and TSMG share no securities.

All 2 AAPB holdings⁠All 5 TSMG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AAPB vs TSMG Cost

Overpaying AAPB vs TSMG

$7,349

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

  • AAPB 1.21%

    $22,005

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • AAPB 1.21%
  • TSMG 0.76%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530AAPB $22,005TSMG $14,656

Year by year

YearAAPBTSMGOverpaying
10$2,115$1,353$762
20$7,873$5,142$2,731
30$22,005$14,656$7,349

Expense ratio

  • 1.21%AAPB
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

AAPB 226th cheapest of 315 funds

AAPB vs TSMG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAPB 3.06%
TSMG No data
Payout (12M)
AAPB $1.41
TSMG No data
Last payment
AAPB $1.41
TSMG $2.73
Ex-dividend
AAPB Dec 29, 2025
TSMG Dec 30, 2025
Paid on
AAPB Dec 31, 2025
TSMG Jan 2, 2026
Frequency
AAPB Irregular
TSMG Irregular

Distribution history

Per share, 2023 to 2026, same scale for both

AAPBIrregular · 2 paymentsAll AAPB payments⁠
One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 27, 2023 $4.31; Dec 29, 2025 $1.41. Use the arrow keys to read each point.$0$520232026YTD
TSMGIrregular · 1 paymentAll TSMG payments⁠
One bar per payment. 1 payment from 2023 to 2026 YTD. Dec 30, 2025 $2.73. Use the arrow keys to read each point.$0$520232026YTD

AAPB vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AAPB 42.5%TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
AAPB 0.83TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
AAPB −58.1%since Aug 2022TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
AAPB 1.82TSMG 3.81

Popular comparisons

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