Skip to content
etf.net

ONG vs TSMG

Leverage Shares 2X Long ON Daily ETF

ONGCCboe

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

ONG −0.01pt a year

ONG0.75%TSMG0.76%

Avg volume · 30D

TSMG 1.2×the volume

ONG57.8KTSMG69K

ONG vs TSMG Performance

Jul 31, 2026 – Oct 30, 2026

−31.2%ONG−4.6%TSMG

Jul 31, 2026 to Oct 30, 2026. ONG −31.2%. TSMG −4.6%. Use the arrow keys to read each point.−40%−20%20%40%Jul 2026Sep 2026Oct 2026
Expense ratio
ONG 0.75%, better
TSMG 0.76%
Fund size
ONG $1M
TSMG $28M
1Y total return
ONG No data
TSMG +40.8%
Holdings
ONG 3
TSMG 5
Avg volume (30D)
ONG 57.8K sh
TSMG 69K sh, better
NAV per share
ONG $3.77
TSMG $33.77
52W range

ETF.net Grade

ONG: Cost 70, Risk 34, Mission not scored, Tradability 53, Holdings not scored, Durability 36. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for ONG, TSMG, with each pillar’s weight
PillarONGTSMG
Cost30% weightA70A70
Mission25% weightNot scoredA79
Risk15% weightD34A84Higher
Tradability15% weightC53A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD36B67Higher

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. ONG 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 ONG 123rd 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 123CONDCCorgi ONDS 2x Daily ETFScore 40
  4. Rank 123CONGLeverage Shares 2X Long ON Daily ETFScore 40
  5. Rank 123CONTXCorgi ONTO 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

ONGCLeverage Shares 2X Long ON Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

ONG A one-stock lever on onsemi, the power-chip and silicon carbide name behind EVs and industrial gear. ONG aims for 200% of ON's daily move, reset every session, at a fee that undercuts most 2x single-stock bulls.

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

ONG The fund seeks daily investment results equal to 200% of the daily performance of ON Semiconductor Corporation stock, 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

  • ONG The mandate is blunt: 200% of ON Semiconductor's daily move, before fees. No index, no basket, no stock picking.leverageshares.com
  • A 0.75% expense ratio sits below the median for 2x single-stock bull funds and undercuts highly ranked peers like GGLL on cost.
  • onsemi makes power and sensing chips, with a large silicon carbide business aimed at vehicles and industrial systems, so the ride tracks a different chip cycle than AI GPU names.onsemi.comsec.gov
  • It is a registered 1940 Act fund with a full prospectus, not a note or a swap contract you hold directly.leverageshares.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

  • ONG Leverage resets daily. Hold past a single session and the path of ON's moves, not just the direction, shapes the outcome, and choppy stretches work against it.leverageshares.com
  • Small asset base, light trading. Spreads can run wider than on the heavily traded mega-cap leveraged wrappers, which matters most on fast days.
  • Launched in 2026 with no distributions, so there is little history yet to study across a full semiconductor cycle.
  • 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 ONG profile⁠

Full TSMG profile⁠

ONG 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.

ONG vs TSMG Cost

Overpaying TSMG vs ONG

$174

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

  • ONG 0.75%

    $14,482

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • ONG 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 $14,656ONG $14,482

Year by year

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

Expense ratio

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

ONG 87th cheapest of 315 funds

TSMG 131st cheapest of 315 funds

ONG vs TSMG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

ONGAll ONG 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

ONG vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ONG No dataTSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
ONG No dataTSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
ONG No dataTSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
ONG −3.69TSMG 3.81

Popular comparisons

  • ONGCvsUNHGA

    Leverage Shares 2X Long ON Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    0.75% · 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.

  • ONGCvsOKTGA

    Leverage Shares 2X Long ON Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    0.75% · 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.

  • ONGCvsPANGA

    Leverage Shares 2X Long ON Daily ETF · Leverage Shares 2x Long PANW Daily ETF

    Expense ratio
    0.75% · 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.