Skip to content
etf.net

APPX vs TSMG

Tradr 2X Long APP Daily ETF

APPXDNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

0.0%by weight

Expense ratio

TSMG −0.60pt a year

APPX1.36%TSMG0.76%

Avg volume · 30D

APPX 17.9×the volume

APPX1.23MTSMG69K

APPX vs TSMG Performance

Oct 31, 2025 – Oct 30, 2026

−93.6%APPX+40.8%TSMG

Oct 31, 2025 to Oct 30, 2026. APPX −93.6%. TSMG +40.8%. Use the arrow keys to read each point.−50%0%100%Oct 2025Apr 2026Oct 2026
Expense ratio
APPX 1.36%
TSMG 0.76%, better
Fund size
APPX $48M
TSMG $28M
1Y total return
APPX −93.6%
TSMG +40.8%, better
Holdings
APPX 1
TSMG 5
Avg volume (30D)
APPX 1.23M sh, better
TSMG 69K sh
NAV per share
APPX $6.44
TSMG $33.77
52W range

ETF.net Grade

APPX: Cost 21, Risk 26, Mission 95, Tradability 80, Holdings 39, Durability 70. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for APPX, TSMG, with each pillar’s weight
PillarAPPXTSMG
Cost30% weightF21A70Higher
Mission25% weightA95HigherA79
Risk15% weightD26A84Higher
Tradability15% weightA80HigherA74
Holdings10% weightD39Not scored
Durability5% weightA70HigherB67

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. APPX 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 APPX 249th 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 123CXYZGLeverage Shares 2x Long XYZ Daily ETFScore 40
  4. Rank 249DAPPXTradr 2X Long APP Daily ETFScore 39
  5. Rank 249DHIMZDaily Target 2X Long HIMS ETFScore 39

Our read on each fund

ETF.net Research

APPXDTradr 2X Long APP Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

APPX One stock, one day, double the move. APPX aims for 200% of AppLovin's daily return and has tracked that target closely. The trade-off: 1.36% a year, above what most rival 2x single-stock funds charge.

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

APPX Seeks daily, before-fee-and-expense results equal to 200% of the daily performance of AppLovin Corp. common shares.

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

  • APPX Does exactly one thing: targets 200% of AppLovin's daily move before fees, and day to day it has landed close to that mark.tradretfs.com
  • Volume and spreads put it among the easier names to get in and out of in a crowded field of roughly 380 leveraged single-stock funds.
  • Against that same peer group the overall build lands in the upper half: solid on the mechanics, with price the main thing holding it back.
  • 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

  • APPX At 1.36% with no fee waiver, it is pricier than 2x peers like TSMG at 0.76% and OKTG at 0.75%, also unwaived. Financing costs for the leverage sit on top of that.
  • Leverage resets daily. Hold longer than a day and compounding takes over, so multi-day results can diverge from 2x the stock's move over the same stretch.tradretfs.com
  • One ticker, doubled, trading since April 2025. No diversification cushion, and only a short history to judge the fund by.nasdaq.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 APPX profile⁠

Full TSMG profile⁠

APPX vs TSMG Holdings

How APPX and TSMG differ

Overlap by weight

0.0%

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

Level by level

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

Sector

No Sector split for APPX and TSMG.

Country, concentration and asset class

Country by domicile

No country split for APPX.

Concentration

Weight in the 10 largest Holdings

  • APPX209.1%
  • TSMG212.4%

Securities held

  • APPX1
  • TSMG1

Asset class

APPX
Leveraged/Inverse
TSMG
Equity

Holdings

  • Only in APPX1
  • In both0
  • Only in TSMG1

Only in APPX

1 security, 100% of APPX by weight

  • Cashusd209.10%

Only in TSMG

1 security, 12.4% of TSMG by weight

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

Weight gaps

APPX and TSMG share no securities.

All APPX 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.

APPX vs TSMG Cost

Overpaying APPX vs TSMG

$9,604

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

  • APPX 1.36%

    $24,260

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • APPX 1.36%
  • 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$25K051015202530APPX $24,260TSMG $14,656

Year by year

YearAPPXTSMGOverpaying
10$2,362$1,353$1,009
20$8,735$5,142$3,593
30$24,260$14,656$9,604

Expense ratio

  • 1.36%APPX
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

APPX 254th cheapest of 315 funds

APPX vs TSMG Dividends

Last 12 months to Oct 30, 2026
Last payment
APPX $9.98
TSMG $2.73
Ex-dividend
APPX Dec 26, 2025
TSMG Dec 30, 2025
Paid on
APPX Dec 30, 2025
TSMG Jan 2, 2026
Frequency
APPX Irregular
TSMG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

APPXIrregular · 1 paymentAll APPX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 26, 2025 $9.98. Use the arrow keys to read each point.$0$102026YTD
TSMGIrregular · 1 paymentAll TSMG payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $2.73. Use the arrow keys to read each point.$0$102026YTD

APPX vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
APPX 180.3%since May 2025TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
APPX 0.22since May 2025TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
APPX −95.3%since Apr 2025TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
APPX 7.24TSMG 3.81

Popular comparisons

  • APPXDvsUNHGA

    Tradr 2X Long APP Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.36% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSMGAvsUNHGA

    Leverage Shares 2x Long TSM Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    0.76% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • APPXDvsOKTGA

    Tradr 2X Long APP Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    1.36% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSMGAvsOKTGA

    Leverage Shares 2x Long TSM Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    0.76% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • APPXDvsPANGA

    Tradr 2X Long APP Daily ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    1.36% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSMGAvsPANGA

    Leverage Shares 2x Long TSM Daily ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    0.76% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.