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GRAG vs TSMG

Leverage Shares 2x Long GRAB Daily ETF

GRAGCNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

8.1%by weight

Expense ratio

GRAG −0.01pt a year

GRAG0.75%TSMG0.76%

Avg volume · 30D

TSMG 1.4×the volume

GRAG48.8KTSMG69K

GRAG vs TSMG Performance

Dec 31, 2025 – Nov 5, 2026

−62.1%GRAG+4.6%TSMG

Dec 31, 2025 to Nov 5, 2026. GRAG −62.1%. TSMG +4.6%. Use the arrow keys to read each point.50%100%Dec 2025Jun 2026Nov 2026
Expense ratio
GRAG 0.75%, better
TSMG 0.76%
Fund size
GRAG $3M
TSMG $27M
1Y total return
GRAG No data
TSMG +9.2%
Holdings
GRAG 4
TSMG 5
Avg volume (30D)
GRAG 48.8K sh
TSMG 69K sh, better
NAV per share
GRAG $4.87
TSMG $31.99
52W range

ETF.net Grade

GRAG: Cost 70, Risk 48, Mission 67, Tradability 46, Holdings not scored, Durability 44. TSMG: Cost 70, Risk 85, Mission 79, Tradability 75, Holdings not scored, Durability 67.
Pillar letters and Scores for GRAG, TSMG, with each pillar’s weight
PillarGRAGTSMG
Cost30% weightA70A70
Mission25% weightB67A79Higher
Risk15% weightC48A85Higher
Tradability15% weightC46A75Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC44B67Higher

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. GRAG 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 GRAG 123rd of 315 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1ATSMGLeverage Shares 2x Long TSM Daily ETFScore 74
  2. Rank 2AUNHGLeverage Shares 2x Long UNH Daily ETFScore 72
  3. Rank 123CGOOLLeverage Shares 2X Long GOOGL Daily ETFScore 40
  4. Rank 123CGRAGLeverage Shares 2x Long GRAB Daily ETFScore 40
  5. Rank 123CHIMCCorgi HIMS 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

GRAGCLeverage Shares 2x Long GRAB Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

GRAG Two times Grab Holdings' daily move, in an ETF you can hold in a plain brokerage account. It costs 0.75%, under the usual toll for single-stock leverage, and the exposure resets every day, which makes it a short-horizon instrument.

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

GRAG The fund seeks daily investment results equal to 200% (2x) of Grab Holdings Limited stock's daily 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

  • GRAG 0.75% a year matches the rest of the Leverage Shares 2x lineup (UNHG, ASMG, AMDG) and undercuts the 0.96% on Direxion's AAPU and GGLL.
  • One dial, no moving parts: 200% of Grab's daily move before fees. No options to roll, no index to track, no margin account or swap agreement of your own.leverageshares.com
  • Single-stock leverage skews US megacap (AAPU on Apple, GGLL on Alphabet). This one aims the same 2x machinery at Grab Holdings, a name outside that pack.
  • 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

  • GRAG The 2x target is a one-day target. Hold longer and compounding takes over, so multi-day results can drift from twice Grab's move over the same stretch.leverageshares.com
  • One company, doubled. An earnings miss, a regulatory shift or a single headline at Grab lands here at twice the size, with no other holdings to cushion it.
  • It launched in December 2025 and has traded thinly since. Light volume tends to mean wider bid/ask spreads and more slippage on the way in and out.
  • 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 GRAG profile⁠

Full TSMG profile⁠

GRAG vs TSMG Holdings

How GRAG and TSMG differ

Overlap by weight

8.1%

Shared holdings make up 12.8% of TSMG and 8.1% of GRAG.

About this figure: GRAG gets much of its exposure from swaps and futures, which aren’t counted.

TSMG gets much of its exposure from swaps and futures, which aren’t counted.

Level by level

  • Holdings1 in both8.1%
  • Asset classStocks100%
  • Countryby domicile100%

Sector

No Sector split for GRAG and TSMG.

Country, concentration and asset class

Country by domicile

Country weights in GRAG and TSMG, widest gap first
CountryMore in GRAGMore in TSMGGap
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • GRAG208.1%
  • TSMG212.8%

Securities held

  • GRAG1
  • TSMG1

Asset class

GRAG
Stocks
TSMG
Stocks

Holdings

  • Only in GRAG0
  • In both1
  • Only in TSMG0

Only in GRAG

0 securities, 0.0% of GRAG by weight

Only in TSMG

0 securities, 0.0% of TSMG by weight

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in GRAG and TSMG, widest gap first
HoldingMore in GRAGMore in TSMGGap
First American Treasury Obligations Fund 01/01/2040TSMG +4.66 points

All 4 GRAG 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.

GRAG vs TSMG Cost

Overpaying TSMG vs GRAG

$174

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

  • GRAG 0.75%

    $14,482

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • GRAG 0.75%
  • 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$15K051015202530TSMG $14,656GRAG $14,482

Year by year

YearGRAGTSMGOverpaying
10$1,336$1,353$17
20$5,078$5,142$64
30$14,482$14,656$174

Expense ratio

  • 0.75%GRAG, cheaper
  • 0.76%TSMG
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

GRAG 87th cheapest of 315 funds

TSMG 131st cheapest of 315 funds

GRAG vs TSMG Dividends

Last 12 months to Nov 5, 2026
Payout (12M)
GRAG None
TSMG No data
Last payment
GRAG No data
TSMG $2.73
Ex-dividend
GRAG No data
TSMG Dec 30, 2025
Paid on
GRAG No data
TSMG Jan 2, 2026
Frequency
GRAG No data
TSMG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

GRAGAll GRAG 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

GRAG vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
GRAG No dataTSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
GRAG No dataTSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
GRAG No dataTSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
GRAG 1.40TSMG 3.98

Popular comparisons

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

    Expense ratio
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    Category
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