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FNG vs TSMG

Leverage Shares 2x Long FN Daily ETF

FNGCCboe

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.23pt a year

FNG0.99%TSMG0.76%

Avg volume · 30D

FNG 1.8×the volume

FNG126KTSMG68.1K

FNG vs TSMG Performance

Aug 7, 2026 – Nov 9, 2026

−68.1%FNG−20.0%TSMG

Aug 7, 2026 to Nov 9, 2026. FNG −68.1%. TSMG −20.0%. Use the arrow keys to read each point.−40%0%20%Aug 2026Sep 2026Nov 2026
Expense ratio
FNG 0.99%
TSMG 0.76%, better
Fund size
FNG $3M
TSMG $24M
1Y total return
FNG No data
TSMG +40.3%
Holdings
FNG 3
TSMG 6
Avg volume (30D)
FNG 126K sh, better
TSMG 68.1K sh
NAV per share
FNG $2.70
TSMG $28.23
52W range

ETF.net Grade

FNG: Cost 50, Risk 35, Mission not scored, Tradability 49, Holdings not scored, Durability 39. TSMG: Cost 70, Risk 82, Mission 75, Tradability 76, Holdings not scored, Durability 66.
Pillar letters and Scores for FNG, TSMG, with each pillar’s weight
PillarFNGTSMG
Cost30% weightC50A70Higher
Mission25% weightNot scoredA75
Risk15% weightD35A82Higher
Tradability15% weightC49A76Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD39B66Higher

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. FNG 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 FNG 124th 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 124CFBXCorgi META 2x Daily ETFScore 40
  5. Rank 124CFNGLeverage Shares 2x Long FN Daily ETFScore 40
  6. Rank 124CFOMGLeverage Shares 2X Long FORM Daily ETFScore 40

Our read on each fund

ETF.net Research

FNGCLeverage Shares 2x Long FN Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

FNG Single-stock leverage usually aims at mega-caps. FNG points at Fabrinet, the optical-packaging specialist that assembles fiber-optic gear for data centers, and targets 2x its daily move. A trading tool, reset every session.

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

FNG The fund seeks daily returns, before fees and expenses, equal to 200% of the daily performance of FN.

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

  • FNG Targets 200% of Fabrinet's daily move, reset each session. Simple math on one day of price action, no basket to unpack.leverageshares.com
  • A 0.99% expense ratio, below the typical fee among 2x single-stock funds.
  • Fabrinet does optical packaging and precision assembly for communications gear, lasers and sensors, well off the mega-cap path most single-stock leverage takes.fabrinet.com
  • A registered 1940 Act fund: the leverage lives inside the ETF, not in a margin account you have to manage.leverageshares.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

  • FNG The daily reset makes path matter. Hold past one session and each day compounds on the last, so choppy stretches can land far from 2x the period's move.leverageshares.com
  • One stock, doubled. A single earnings print or customer shift at Fabrinet drives the whole ride, with no diversification to soften it.leverageshares.com
  • Small, moderately traded and launched in 2026, with no regular distributions. Worth checking spreads before you trade.
  • 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 FNG profile⁠

Full TSMG profile⁠

FNG 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.

FNG vs TSMG Cost

Overpaying FNG vs TSMG

$3,869

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

  • FNG 0.99%

    $18,525

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • FNG 0.99%
  • 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$20K051015202530FNG $18,525TSMG $14,656

Year by year

YearFNGTSMGOverpaying
10$1,746$1,353$393
20$6,565$5,142$1,423
30$18,525$14,656$3,869

Expense ratio

  • 0.99%FNG
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 312 funds

FNG 169th cheapest of 312 funds

FNG vs TSMG Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
FNG None
TSMG No data
Last payment
FNG No data
TSMG $2.73
Ex-dividend
FNG No data
TSMG Dec 30, 2025
Paid on
FNG No data
TSMG Jan 2, 2026
Frequency
FNG No data
TSMG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

FNGAll FNG 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

FNG vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FNG No dataTSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
FNG No dataTSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
FNG No dataTSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
FNG −1.55TSMG 3.98

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