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BTCU vs TSMG

Direxion Daily Bitcoin Bull 2X ETF

BTCUCNYSE Arca

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.37pt a year

BTCU1.13%TSMG0.76%

Avg volume · 30D

TSMG 2.5×the volume

BTCU27.2KTSMG69K

BTCU vs TSMG Performance

Jul 31, 2026 – Nov 2, 2026

+38.6%BTCU−7.6%TSMG

Jul 31, 2026 to Nov 2, 2026. BTCU +38.6%. TSMG −7.6%. Use the arrow keys to read each point.20%60%80%Jul 2026Sep 2026Nov 2026
Expense ratio
BTCU 1.13%
TSMG 0.76%, better
Fund size
BTCU $5M
TSMG $28M
1Y total return
BTCU No data
TSMG +36.4%
Holdings
BTCU 8
TSMG 5
Avg volume (30D)
BTCU 27.2K sh
TSMG 69K sh, better
NAV per share
BTCU $22.44
TSMG $33.77
52W range

ETF.net Grade

BTCU: Cost 38, Risk 82, Mission not scored, Tradability 50, Holdings not scored, Durability 55. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for BTCU, TSMG, with each pillar’s weight
PillarBTCUTSMG
Cost30% weightD38A70Higher
Mission25% weightNot scoredA79
Risk15% weightA82A84Higher
Tradability15% weightC50A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB55B67Higher

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. BTCU 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 BTCU 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 78CBABXGraniteShares 2x Long BABA Daily ETFScore 52
  4. Rank 78CBTCUDirexion Daily Bitcoin Bull 2X ETFScore 52
  5. Rank 78CLMTLDirexion Daily LMT Bull 2X ETFScore 52

Our read on each fund

ETF.net Research

BTCUCDirexion Daily Bitcoin Bull 2X ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

BTCU What if you could get 2x daily bitcoin without touching futures? That's BTCU: swaps written on a spot bitcoin ETF, targeting 200% of bitcoin's daily move. 1.13% net of a waiver through September 1, 2027.

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

BTCU BTCU seeks daily investment results equal to 200% of Bitcoin's price performance before fees and expenses.

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

  • BTCU The spot angle. Direxion built this on swaps referencing IBIT, the iShares spot bitcoin ETF, rather than CME futures, so the reference is bitcoin's price, not a futures curve.direxion.com
  • One job, stated plainly: daily results of 200% of bitcoin's price performance before fees and expenses. No stock picking, no discretion, no hedge overlay.direxion.com
  • 2x is the milder rung on the leverage ladder. The daily-reset math that chews up 3x products in choppy tape bites less hard at double.
  • On risk measures, it sits in the stronger part of a crowded leveraged-bull field of hundreds of funds.
  • 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

  • BTCU This is a one-day tool. Leverage resets daily, so returns over longer stretches can diverge meaningfully from 2x bitcoin, and volatile sideways markets widen that gap.sec.gov
  • Cost runs above the category median: 1.13% net of a waiver through September 1, 2027, 1.15% gross. The cheapest-run 2x names (OKTG 0.75%, TSMG 0.76%) charge less, unwaived.
  • Young and small. It launched in 2026 with a modest asset base and light trading, which can mean wider spreads for anyone sizing a position quickly.
  • 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 BTCU profile⁠

Full TSMG profile⁠

BTCU vs 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.

BTCU vs TSMG Cost

Overpaying BTCU vs TSMG

$6,108

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

  • BTCU 1.13%

    $20,764

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • BTCU 1.13%
  • 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$25K051015202530BTCU $20,764TSMG $14,656

Year by year

YearBTCUTSMGOverpaying
10$1,981$1,353$628
20$7,403$5,142$2,261
30$20,764$14,656$6,108

Expense ratio

  • 1.13%BTCU
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

BTCU 221st cheapest of 315 funds

BTCU vs TSMG Dividends

Last 12 months to Nov 2, 2026
Last payment
BTCU $0.16
TSMG $2.73
Ex-dividend
BTCU Sep 22, 2026
TSMG Dec 30, 2025
Paid on
BTCU Sep 29, 2026
TSMG Jan 2, 2026
Frequency
BTCU Quarterly
TSMG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

BTCUQuarterly · 2 paymentsAll BTCU payments⁠
One bar per payment. 2 payments from 2025 to 2026 YTD. Jun 23, 2026 $0.04; Sep 22, 2026 $0.16. Use the arrow keys to read each point.$0$2.502026YTD
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

BTCU vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BTCU No dataTSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
BTCU No dataTSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
BTCU No dataTSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
BTCU 0.00TSMG 3.81

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