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AAPX vs TSMG

T-REX 2X Long Apple Daily Target ETF

AAPXBCboe

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

0.0%by weight

Expense ratio

TSMG −0.29pt a year

AAPX1.05%TSMG0.76%

Avg volume · 30D

TSMG 1.3×the volume

AAPX54.9KTSMG69K

AAPX vs TSMG Performance

Oct 31, 2025 – Nov 2, 2026

+31.3%AAPX+36.4%TSMG

Oct 31, 2025 to Nov 2, 2026. AAPX +31.3%. TSMG +36.4%. Use the arrow keys to read each point.−25%0%75%100%Oct 2025May 2026Nov 2026
Expense ratio
AAPX 1.05%
TSMG 0.76%, better
Fund size
AAPX $8M
TSMG $28M
1Y total return
AAPX +31.3%
TSMG +36.4%, better
Yield (12M)
AAPX 0.50%
TSMG No data
Holdings
AAPX 2
TSMG 5
Avg volume (30D)
AAPX 54.9K sh
TSMG 69K sh, better
NAV per share
AAPX $42.31
TSMG $33.77
52W range

ETF.net Grade

AAPX: Cost 42, Risk 79, Mission 90, Tradability 55, Holdings not scored, Durability 66. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for AAPX, TSMG, with each pillar’s weight
PillarAAPXTSMG
Cost30% weightC42A70Higher
Mission25% weightA90HigherA79
Risk15% weightA79A84Higher
Tradability15% weightB55A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB66B67Higher

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. AAPX 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 AAPX 69th 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 62BUSGGLeverage Shares 2X Long USAR Daily ETFScore 56
  4. Rank 69BAAPXT-REX 2X Long Apple Daily Target ETFScore 55
  5. Rank 69BCSCLDirexion Daily CSCO Bull 2X ETFScore 55

Our read on each fund

ETF.net Research

AAPXBT-REX 2X Long Apple Daily Target ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

AAPX One of only two US ETFs built to double Apple's daily move, and the challenger rather than the incumbent. This is a one-day instrument: 200% of AAPL before fees, reset at every close.

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

AAPX The Fund seeks daily investment results, before fees and expenses, equal to 200% of Apple common-stock performance. Its objective applies for a single trading day rather than longer holding periods.

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

  • AAPX Does one job and states it plainly: 200% of Apple's daily stock move before fees and expenses. It has stayed close to that daily target since launching in January 2024.
  • Standing is strong: one of the better-executed products in a crowded field of leveraged single-stock bull funds.
  • Registered under the 1940 Act, so amplified Apple exposure arrives in a standard ETF wrapper with no margin account or options approval on your end.
  • 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

  • AAPX The daily reset compounds. Hold past a single session and the result can diverge from twice Apple's move over that stretch, in either direction.
  • One company, doubled. Apple news lands with twice the force, and there is nothing else in the portfolio to soften it.
  • Fees run 1.05% a year against 0.96% at AAPU, the other 2x Apple fund. It is also a smaller, moderately traded fund, so limit orders earn their keep.
  • 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 AAPX profile⁠

Full TSMG profile⁠

AAPX vs TSMG Holdings

How AAPX and TSMG differ

Overlap by weight

0.0%

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

Level by level

  • Holdings0 in both0.0%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for TSMG.

Country, concentration and asset class

Country by domicile

Country weights in AAPX and TSMG, widest gap first
CountryMore in AAPXMore in TSMG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • AAPX546.9%
  • TSMG214.6%

Securities held

  • AAPX1
  • TSMG1

Asset class

AAPX
Equity
TSMG
Equity

Holdings

  • Only in AAPX1
  • In both0
  • Only in TSMG1

Only in AAPX

1 security, 100% of AAPX by weight

  • Recv Aapx Trs Aapl Eq466.64%

Only in TSMG

1 security, 14.6% of TSMG by weight

  • First American Treasury Obligations Fund 01/01/204014.59%

Weight gaps

AAPX and TSMG share no securities.

All 5 AAPX 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.

AAPX vs TSMG Cost

Overpaying AAPX vs TSMG

$4,839

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

  • AAPX 1.05%

    $19,495

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • AAPX 1.05%
  • 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$20K051015202530AAPX $19,495TSMG $14,656

Year by year

YearAAPXTSMGOverpaying
10$1,847$1,353$494
20$6,927$5,142$1,785
30$19,495$14,656$4,839

Expense ratio

  • 1.05%AAPX
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

AAPX 201st cheapest of 315 funds

AAPX vs TSMG Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
AAPX 0.50%
TSMG No data
Payout (12M)
AAPX $0.20
TSMG No data
Last payment
AAPX $0.20
TSMG $2.73
Ex-dividend
AAPX Dec 24, 2025
TSMG Dec 30, 2025
Paid on
AAPX Dec 26, 2025
TSMG Jan 2, 2026
Frequency
AAPX Annual
TSMG Irregular

Distribution history

Per share, 2024 to 2026, same scale for both

AAPXAnnual · 2 paymentsAll AAPX payments⁠
One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 24, 2024 $6.93; Dec 24, 2025 $0.20. Use the arrow keys to read each point.$0$52026YTD
TSMGIrregular · 1 paymentAll TSMG payments⁠
One bar per payment. 1 payment from 2024 to 2026 YTD. Dec 30, 2025 $2.73. Use the arrow keys to read each point.$0$52026YTD

AAPX vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AAPX 42.8%since Feb 2024TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
AAPX 0.73since Feb 2024TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
AAPX −58.5%since Jan 2024TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
AAPX 1.72TSMG 3.81

Popular comparisons

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