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BABX vs TSMG

GraniteShares 2x Long BABA Daily ETF

BABXCNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

0.0%by weight

Expense ratio

TSMG −0.33pt a year

BABX1.09%TSMG0.76%

Avg volume · 30D

BABX 11.9×the volume

BABX821KTSMG69K

BABX vs TSMG Performance

Oct 31, 2025 – Nov 2, 2026

−71.7%BABX+36.4%TSMG

Oct 31, 2025 to Nov 2, 2026. BABX −71.7%. TSMG +36.4%. Use the arrow keys to read each point.−50%0%100%Oct 2025May 2026Nov 2026
Expense ratio
BABX 1.09%
TSMG 0.76%, better
Fund size
BABX $91M
TSMG $28M
1Y total return
BABX −71.7%
TSMG +36.4%, better
Holdings
BABX 2
TSMG 5
Avg volume (30D)
BABX 821K sh, better
TSMG 69K sh
NAV per share
BABX $13.27
TSMG $33.77
52W range

ETF.net Grade

BABX: Cost 39, Risk 34, Mission 96, Tradability 89, Holdings not scored, Durability 82. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for BABX, TSMG, with each pillar’s weight
PillarBABXTSMG
Cost30% weightD39A70Higher
Mission25% weightA96HigherA79
Risk15% weightD34A84Higher
Tradability15% weightA89HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightA82HigherB67

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. BABX 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 BABX 78th 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 76CUUUGLeverage Shares 2x Long UUUU Daily ETFScore 53
  4. Rank 78CBABXGraniteShares 2x Long BABA Daily ETFScore 52
  5. Rank 78CBTCUDirexion Daily Bitcoin Bull 2X ETFScore 52

Our read on each fund

ETF.net Research

BABXCGraniteShares 2x Long BABA Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

BABX The original 2x Alibaba ETF: live since 2022, years before its rivals. It aims for twice BABA's daily move, resets every night, and costs 1.15% net of a waiver through December 31, 2026.

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

BABX The Fund seeks daily investment results equal to twice the daily percentage change of Alibaba Group Holding Limited’s common stock. It is intended as a short-term leveraged trading vehicle rather than a long-term investment.

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

  • BABX Launched December 2022, it beat every rival 2x BABA fund to market by years, giving traders the longest-running option in this corner of the market.graniteshares.comkraneshares.comdirexion.com
  • Tracks its daily 2x target closely and trades actively with tight execution, one of the stronger builds in a crowded leveraged single-stock group.
  • Plain plumbing: swaps totaling 200% notional across counterparties, collateralized by T-bills and cash, rebalanced daily, with holdings published by the issuer.graniteshares.com
  • 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

  • BABX Costs more than the two other 2x BABA funds: BABU at 0.97% net of a waiver through September 1, 2027 and KBAB at 0.99% net of a waiver through August 1, 2028.
  • The daily reset means returns over longer stretches can drift far from 2x BABA. GraniteShares calls it a short-term trading vehicle, not a buy-and-hold holding.graniteshares.com
  • The mandate was 1.75x before January 22, 2024, so the earliest stretch of its history reflects a different leverage level than today's.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 BABX profile⁠

Full TSMG profile⁠

BABX vs TSMG Holdings

How BABX and TSMG differ

Overlap by weight

0.0%

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

Level by level

  • Asset classLeveraged/Inverse, Equity0.0%
  • Countryby domicile0.0%
  • Holdings0 in both0.0%

Sector

No Sector split for TSMG.

Country, concentration and asset class

Country by domicile

Country weights in BABX and TSMG, widest gap first
CountryMore in BABXMore in TSMG
ChinaBABX +100.0 points
United StatesTSMG +100.0 points

Outside the US: BABX 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

  • BABX100.0%
  • TSMG214.6%

Securities held

  • BABX1
  • TSMG1

Asset class

BABX
Leveraged/Inverse
TSMG
Equity

Holdings

  • Only in BABX1
  • In both0
  • Only in TSMG1

Only in BABX

1 security, 66.7% of BABX by weight

  • Baba66.65%

Only in TSMG

1 security, 14.6% of TSMG by weight

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

Weight gaps

BABX and TSMG share no securities.

All 2 BABX 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.

BABX vs TSMG Cost

Overpaying BABX vs TSMG

$5,477

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

  • BABX 1.09%

    $20,133

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • BABX 1.09%
  • 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$25K051015202530BABX $20,133TSMG $14,656

Year by year

YearBABXTSMGOverpaying
10$1,915$1,353$562
20$7,166$5,142$2,024
30$20,133$14,656$5,477

Expense ratio

  • 1.09%BABX
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

BABX 219th cheapest of 315 funds

BABX vs TSMG Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
BABX None
TSMG No data
Last payment
BABX No data
TSMG $2.73
Ex-dividend
BABX No data
TSMG Dec 30, 2025
Paid on
BABX No data
TSMG Jan 2, 2026
Frequency
BABX No data
TSMG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

BABXAll BABX payments⁠

No distribution history available.

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$2.502026YTD

BABX vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BABX 95.3%TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
BABX 0.25TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
BABX −79.2%since Dec 2022TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
BABX 1.02TSMG 3.81

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