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MSTP vs TSMG

GraniteShares 2x Long MSTR Daily ETF

MSTPDNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.91pt a year

MSTP1.67%TSMG0.76%

Avg volume · 30D

TSMG 1.04×the volume

MSTP66.2KTSMG69K

MSTP vs TSMG Performance

Oct 31, 2025 – Oct 30, 2026

−90.1%MSTP+40.8%TSMG

Oct 31, 2025 to Oct 30, 2026. MSTP −90.1%. TSMG +40.8%. Use the arrow keys to read each point.−50%0%100%Oct 2025Apr 2026Oct 2026
Expense ratio
MSTP 1.67%
TSMG 0.76%, better
Fund size
MSTP $15M
TSMG $28M
1Y total return
MSTP −90.1%
TSMG +40.8%, better
Holdings
MSTP 2
TSMG 5
Avg volume (30D)
MSTP 66.2K sh
TSMG 69K sh, better
NAV per share
MSTP $22.76
TSMG $33.77
52W range

ETF.net Grade

MSTP: Cost 2, Risk 31, Mission 90, Tradability 67, Holdings not scored, Durability 69. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for MSTP, TSMG, with each pillar’s weight
PillarMSTPTSMG
Cost30% weightF2A70Higher
Mission25% weightA90HigherA79
Risk15% weightD31A84Higher
Tradability15% weightB67A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB69HigherB67

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. MSTP 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 MSTP 283rd 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 283DKEEXDefiance Daily Target 2X Long BITF ETFScore 28
  4. Rank 283DMSTPGraniteShares 2x Long MSTR Daily ETFScore 28
  5. Rank 283DPENUT-REX 2X Long PENG Daily Target ETFScore 28

Our read on each fund

ETF.net Research

MSTPDGraniteShares 2x Long MSTR Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

MSTP MicroStrategy is already a leveraged bet on bitcoin. MSTP stacks 2x the daily move on top of that, using swaps instead of shares and resetting every session. Built for day-trade horizons, by its own prospectus.

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

MSTP The Fund seeks daily investment results equal to twice the daily percentage change of MicroStrategy Inc.'s common stock, before fees and expenses. It is intended as a daily, short-term leveraged exposure and is not expected to deliver twice the cumulative return over periods longer than one day.

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

  • MSTP Doubles MicroStrategy's daily move through total-return swaps collateralized by T-bills and cash, so the exposure arrives without a margin account or a loan to maintain.graniteshares.com
  • Day to day it has stayed close to its stated 2x goal, which is the entire job of a daily-reset fund.
  • Launched in 2025 onto GraniteShares' existing 2x single-stock shelf, which runs the same daily-reset plumbing across names like TSM and MU.graniteshares.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

  • MSTP The 2x applies to one day only. Hold longer and compounding plus MicroStrategy's swings can push results well away from twice the stock's move, in either direction.
  • Costs 1.50% net of a waiver through December 31, 2026, against a 39.17% gross ratio, and sits above the category median. MSTU tracks the same stock for 1.05%, no waiver.
  • A small fund that has not paid distributions, and its exposure sits in swaps with counterparties rather than in the shares, so counterparty terms matter.graniteshares.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 MSTP profile⁠

Full TSMG profile⁠

MSTP 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.

MSTP vs TSMG Cost

Overpaying MSTP vs TSMG

$13,981

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

  • MSTP 1.67%

    $28,637

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • MSTP 1.67%
  • TSMG 0.76%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530MSTP $28,637TSMG $14,656

Year by year

YearMSTPTSMGOverpaying
10$2,863$1,353$1,510
20$10,445$5,142$5,303
30$28,637$14,656$13,981

Expense ratio

  • 1.67%MSTP
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

MSTP 308th cheapest of 315 funds

MSTP vs TSMG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

MSTPAll MSTP 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

MSTP vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MSTP 144.2%since Jul 2025TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
MSTP −0.86since Jul 2025TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
MSTP −98.4%since Jun 2025TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
MSTP 6.34TSMG 3.81

Popular comparisons

  • MSTPDvsUNHGA

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

    Expense ratio
    1.67% · 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.

  • MSTPDvsOKTGA

    GraniteShares 2x Long MSTR Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    1.67% · 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.

  • MSTPDvsPANGA

    GraniteShares 2x Long MSTR Daily ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    1.67% · 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.