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MRNX vs TSMG

Daily Target 2X Long MRNA ETF

MRNXCNYSE Arca

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.58pt a year

MRNX1.34%TSMG0.76%

Avg volume · 30D

MRNX 3.8×the volume

MRNX265KTSMG69K

MRNX vs TSMG Performance

Jul 31, 2026 – Nov 2, 2026

+567.9%MRNX−7.6%TSMG

Jul 31, 2026 to Nov 2, 2026. MRNX +567.9%. TSMG −7.6%. Use the arrow keys to read each point.200%400%800%Jul 2026Sep 2026Nov 2026
Expense ratio
MRNX 1.34%
TSMG 0.76%, better
Fund size
MRNX $31M
TSMG $28M
1Y total return
MRNX No data
TSMG +36.4%
Holdings
MRNX 9
TSMG 5
Avg volume (30D)
MRNX 265K sh, better
TSMG 69K sh
NAV per share
MRNX $163.35
TSMG $33.77
52W range

ETF.net Grade

MRNX: Cost 22, Risk 72, Mission 90, Tradability 73, Holdings not scored, Durability 66. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for MRNX, TSMG, with each pillar’s weight
PillarMRNXTSMG
Cost30% weightF22A70Higher
Mission25% weightA90HigherA79
Risk15% weightA72A84Higher
Tradability15% weightA73A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB66B67Higher

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. MRNX 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 MRNX 92nd 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 92CLLYXDaily Target 2X Long LLY ETFScore 48
  4. Rank 92CMRNXDaily Target 2X Long MRNA ETFScore 48
  5. Rank 92CTSMUGraniteShares 2x Long TSM Daily ETFScore 48

Our read on each fund

ETF.net Research

MRNXCDaily Target 2X Long MRNA ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

MRNX Most 2x single-stock ETFs point at megacap tech. MRNX aims the same machinery at Moderna, a biotech that moves on trial data and FDA headlines, targeting two times MRNA's daily move. Built as a short-term trading tool, priced at 1.34%.

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

MRNX The Fund seeks daily leveraged results equal to two times the daily percentage change in Moderna, Inc.'s share price, 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

  • MRNX Does one job with a published number attached: two times the daily percentage change in Moderna's share price, before fees and expenses, reset at the close each trading day.defianceetfs.com
  • Delivers that exposure through swaps, with listed options as backup, inside a 1940 Act ETF you buy like any share. No margin account, no options chain to manage.defianceetfs.com
  • Has tracked its stated 2x daily target closely since its February 2026 launch, and stands in the upper half of a crowded field of leveraged single-stock bull 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

  • MRNX At 1.34% it costs above the typical leveraged single-stock fund, and above peers such as TSMG (0.76%) and OKTG (0.75%).
  • Hold past a day and compounding takes over: longer-run returns can differ from 2x MRNA, and the prospectus warns of losses even if MRNA is flat or up over the span.sec.gov
  • One stock, one storyline. Non-diversified by design, so a trial readout or regulatory decision on Moderna lands here at double the daily force.defianceetfs.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 MRNX profile⁠

Full TSMG profile⁠

MRNX 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.

MRNX vs TSMG Cost

Overpaying MRNX vs TSMG

$9,309

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

  • MRNX 1.34%

    $23,965

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • MRNX 1.34%
  • 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$25K051015202530MRNX $23,965TSMG $14,656

Year by year

YearMRNXTSMGOverpaying
10$2,329$1,353$976
20$8,621$5,142$3,479
30$23,965$14,656$9,309

Expense ratio

  • 1.34%MRNX
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

MRNX 250th cheapest of 315 funds

MRNX vs TSMG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

MRNXAll MRNX 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

MRNX vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MRNX No dataTSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
MRNX No dataTSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
MRNX No dataTSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
MRNX −1.97TSMG 3.81

Popular comparisons

  • MRNXCvsUNHGA

    Daily Target 2X Long MRNA ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.34% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSMGAvsUNHGA

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

    Expense ratio
    0.76% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MRNXCvsOKTGA

    Daily Target 2X Long MRNA ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    1.34% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSMGAvsOKTGA

    Leverage Shares 2x Long TSM Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    0.76% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MRNXCvsPANGA

    Daily Target 2X Long MRNA ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    1.34% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSMGAvsPANGA

    Leverage Shares 2x Long TSM Daily ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    0.76% · 0.76%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.