MULL vs TSMG

MULLCGraniteShares 2x Long MU Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

MULL A 2x daily trade on Micron from one of the single-stock leverage specialists. Swaps, options and actual MU shares get reset to about 200% exposure every single day, which makes it a trading tool rather than a hold-and-forget position.

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

MULL The Fund seeks daily investment results, before fees and expenses, equal to 2 times the daily percentage change of Micron Technology, Inc. common stock. It is intended as a short-term leveraged trading vehicle 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

• MULL Hits its 2x daily target closely and consistently, one of the stronger implementations in a crowded field of leveraged single-stock bull funds.
• Very actively traded, which is what you want from a vehicle meant to be entered and exited inside a session.
• Built from swaps, options and direct Micron shares, rebalanced to roughly 200% of net assets at each close, with at least 80% of exposure held in 2x MU instruments.sec.gov

• 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

• MULL At 1.50% net of a waiver through December 31, 2026 (3.06% gross), it is the priciest of the three 2x Micron funds: MUU charges 1.01%, MIC 0.45%, neither waived.
• The daily reset compounds: over multi-day stretches, especially choppy ones, returns can diverge widely from 2x Micron's move over the same period.graniteshares.com
• One stock, one industry. The prospectus flags exposure concentrated in semiconductors, and the fund posts 25% to 50% of assets as swap collateral.sec.govsec.gov 2

• 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 MULL profile⁠

Full TSMG profile⁠