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FBL vs TSMG

GraniteShares 2x Long META Daily ETF

FBLBNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.29pt a year

FBL1.05%TSMG0.76%

Avg volume · 30D

FBL 15.9×the volume

FBL1.08MTSMG68.1K

FBL vs TSMG Performance

Nov 7, 2025 – Nov 9, 2026

−18.0%FBL+40.3%TSMG

Nov 7, 2025 to Nov 9, 2026. FBL −18.0%. TSMG +40.3%. Use the arrow keys to read each point.75%100%125%Nov 2025May 2026Nov 2026
Expense ratio
FBL 1.05%
TSMG 0.76%, better
Fund size
FBL $140M
TSMG $24M
1Y total return
FBL −18.0%
TSMG +40.3%, better
Yield (12M)
FBL 2.79%
TSMG No data
Holdings
FBL 2
TSMG 6
Avg volume (30D)
FBL 1.08M sh, better
TSMG 68.1K sh
NAV per share
FBL $21.92
TSMG $28.23
52W range

ETF.net Grade

FBL: Cost 44, Risk 55, Mission 98, Tradability 95, Holdings not scored, Durability 83. TSMG: Cost 70, Risk 82, Mission 75, Tradability 76, Holdings not scored, Durability 66.
Pillar letters and Scores for FBL, TSMG, with each pillar’s weight
PillarFBLTSMG
Cost30% weightC44A70Higher
Mission25% weightA98HigherA75
Risk15% weightB55A82Higher
Tradability15% weightA95HigherA76
Holdings10% weightNot scoredNot scored
Durability5% weightA83HigherB66

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. FBL and TSMG are both graded against the same 312 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 312 funds
See all 312 ›

TSMG ranks 2nd and FBL 34th of 312 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1AUNHGLeverage Shares 2x Long UNH Daily ETFScore 74
  2. Rank 2ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  3. Rank 3ACOTGLeverage Shares 2X Long COST Daily ETFScore 70
  4. Rank 34BCRWGLeverage Shares 2x Long CRWV Daily ETFScore 61
  5. Rank 34BFBLGraniteShares 2x Long META Daily ETFScore 61
  6. Rank 34BHOOGLeverage Shares 2x Long HOOD Daily ETFScore 61

Our read on each fund

ETF.net Research

FBLBGraniteShares 2x Long META Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

FBL Two US ETFs offer 2x daily Meta exposure, and FBL has been doing it since 2022. One stock, one lever, reset every day: it aims for twice Meta's daily move before fees, and nothing else.

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

FBL The Fund seeks daily investment results equal to twice the daily percentage change of Meta Platforms Inc. 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

  • FBL Does exactly the job on the label: twice Meta's daily percentage change, before fees. It has held that target tightly, one of the stronger implementations in its peer group.graniteshares.com
  • Only two US ETFs offer 2x daily Meta exposure. FBL is one of them, and it has been trading since December 2022, through several Meta earnings cycles.
  • Actively traded, and one of the easier funds in this corner of the market to get in and out of when Meta is the story of the day.
  • 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

  • FBL Fees run 1.09% a year, above the typical leveraged single-stock fund and above METU, the other 2x Meta ETF, at 1.02%.
  • The 2x target resets daily. Hold longer and returns compound; a choppy stretch can leave you well away from twice Meta's move over that period.graniteshares.com
  • One company, doubled. Meta headline risk is the entire portfolio, amplified, with no diversification to cushion it.
  • 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 FBL profile⁠

Full TSMG profile⁠

FBL 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.

FBL vs TSMG Cost

Overpaying FBL vs TSMG

$4,839

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

  • FBL 1.05%

    $19,495

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • FBL 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$20K051015202530FBL $19,495TSMG $14,656

Year by year

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

Expense ratio

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

TSMG 131st cheapest of 312 funds

FBL 201st cheapest of 312 funds

FBL vs TSMG Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
FBL 2.79%
TSMG No data
Payout (12M)
FBL $0.67
TSMG No data
Last payment
FBL $0.67
TSMG $2.73
Ex-dividend
FBL Dec 29, 2025
TSMG Dec 30, 2025
Paid on
FBL Dec 31, 2025
TSMG Jan 2, 2026
Frequency
FBL Irregular
TSMG Irregular

Distribution history

Per share, 2023 to 2026, same scale for both

FBLIrregular · 2 paymentsAll FBL payments⁠
One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 27, 2023 $8.00; Dec 29, 2025 $0.67. 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

FBL vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FBL 73.3%TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
FBL 0.55TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
FBL −63.2%since Dec 2022TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
FBL 2.70TSMG 3.98

Popular comparisons

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    GraniteShares 2x Long META Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
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    Category
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  • TSMGAvsUNHGA

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    Expense ratio
    0.76% · 0.77%
    Category
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  • TSMGAvsCOTGA

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    0.76% · 0.77%
    Category
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  • TSMGAvsOKTGA

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