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LNOK vs TSMG

Daily Target 2X Long NOK ETF

LNOKCCboe

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

0.0%by weight

Expense ratio

TSMG −0.54pt a year

LNOK1.30%TSMG0.76%

Avg volume · 30D

LNOK 3.8×the volume

LNOK265KTSMG69K

LNOK vs TSMG Performance

Jul 31, 2026 – Nov 2, 2026

−30.3%LNOK−7.6%TSMG

Jul 31, 2026 to Nov 2, 2026. LNOK −30.3%. TSMG −7.6%. Use the arrow keys to read each point.−40%−20%20%40%Jul 2026Sep 2026Nov 2026
Expense ratio
LNOK 1.30%
TSMG 0.76%, better
Fund size
LNOK $14M
TSMG $28M
1Y total return
LNOK No data
TSMG +36.4%
Holdings
LNOK 9
TSMG 5
Avg volume (30D)
LNOK 265K sh, better
TSMG 69K sh
NAV per share
LNOK $10.59
TSMG $33.77
52W range

ETF.net Grade

LNOK: Cost 32, Risk 57, Mission 66, Tradability 43, Holdings not scored, Durability 62. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for LNOK, TSMG, with each pillar’s weight
PillarLNOKTSMG
Cost30% weightD32A70Higher
Mission25% weightB66A79Higher
Risk15% weightB57A84Higher
Tradability15% weightC43A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB62B67Higher

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. LNOK 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 LNOK 116th 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 111CSMCLGraniteShares 2x Long SMCI Daily ETFScore 43
  4. Rank 116CLNOKDaily Target 2X Long NOK ETFScore 42
  5. Rank 116CPURDefiance Daily Target 2X Long PURR ETFScore 42

Our read on each fund

ETF.net Research

LNOKCDaily Target 2X Long NOK ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

LNOK The first 2x daily long ETF on Nokia, a 5G and network-gear name in a field crowded with AI chip tickers. Swaps plus short-dated options, reset every day, 1.30% a year, no margin account to open.

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

LNOK The fund seeks leveraged long exposure to NOK, targeting twice the underlying's daily performance.

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

  • LNOK The original Nokia leverage play: Defiance launched it in January 2026 as the first daily 2X long ETF on Nokia Oyj, so the exposure is a one-ticker trade instead of a margin account and borrowed shares.globenewswire.comdefianceetfs.com
  • Mechanically plain: it aims for 200% of the daily percentage change in Nokia's ADR share price, using swap agreements and options contracts rather than an index.globenewswire.com
  • A telecom-infrastructure target in a category stacked with semis and megacaps, and it rates in the upper half of that several-hundred-fund bull-leverage group.defianceetfs.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

  • LNOK The leverage resets daily. Hold longer than a day and returns compound, so the result can drift well away from 2x Nokia's move over that stretch, most of all in choppy markets.globenewswire.com
  • Cost sits above the category median: 1.30% a year, with no waiver in place, versus 0.76% at TSMG and 0.75% at OKTG, two of the best-rated 2x single-stock funds, also unwaived.
  • Everything rides on one company's stock, delivered synthetically through swap counterparties, and this is a small fund with a short track record behind it.globenewswire.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 LNOK profile⁠

Full TSMG profile⁠

LNOK vs TSMG Holdings

How LNOK and TSMG differ

Overlap by weight

0.0%

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

Level by level

  • Asset classLeveraged/Inverse, Equity0.0%
  • Holdings0 in both0.0%
  • Countryby domicile100%

Sector

No Sector split for LNOK and TSMG.

Country, concentration and asset class

Country by domicile

Country weights in LNOK and TSMG, widest gap first
CountryMore in LNOKMore in TSMG
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • LNOK291.7%
  • TSMG214.6%

Securities held

  • LNOK2
  • TSMG1

Asset class

LNOK
Leveraged/Inverse
TSMG
Equity

Holdings

  • Only in LNOK2
  • In both0
  • Only in TSMG1

Only in LNOK

2 securities, 91.4% of LNOK by weight

  • United States Treasury Bill 11/19/202688.20%
  • First American Government Obligations Fund 12/01/20313.19%

Only in TSMG

1 security, 14.6% of TSMG by weight

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

Weight gaps

LNOK and TSMG share no securities.

All 10 LNOK 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.

LNOK vs TSMG Cost

Overpaying LNOK vs TSMG

$8,713

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

  • LNOK 1.30%

    $23,369

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • LNOK 1.30%
  • 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$25K051015202530LNOK $23,369TSMG $14,656

Year by year

YearLNOKTSMGOverpaying
10$2,263$1,353$910
20$8,393$5,142$3,251
30$23,369$14,656$8,713

Expense ratio

  • 1.30%LNOK
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

LNOK 229th cheapest of 315 funds

LNOK vs TSMG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

LNOKAll LNOK 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

LNOK vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
LNOK No dataTSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
LNOK No dataTSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
LNOK No dataTSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
LNOK 9.37TSMG 3.81

Popular comparisons

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