QCML vs TSMG

QCMLCGraniteShares 2x Long QCOM Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

QCML Two times Qualcomm's move, one day at a time. QCML never owns a QCOM share: it rents the exposure through swaps, resets every night, and costs 1.50% net of a waiver through December 31, 2026 (7.39% gross).

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

QCML The fund seeks daily investment results equal to twice the daily percentage change of Qualcomm Inc.'s common 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

• QCML One job, stated plainly: it aims for twice QCOM's daily percentage change, before fees. No basket, no index committee, no mystery holdings.graniteshares.com
• Small fund, busy tape. It trades actively, which is what matters when the holding period is measured in hours rather than years.
• Day to day it has tracked its 2x target closely, and it sits in the upper half of a crowded leveraged single-stock field.
• Part of one of the deepest single-stock leverage lineups on the market, so the plumbing here is well worn rather than experimental.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

• QCML The daily reset compounds. Hold longer than a day and the result can drift well away from 2x QCOM's move, and choppy stretches widen that gap.graniteshares.com
• At 1.50% net of a waiver through December 31, 2026 (7.39% gross), it sits above the category's typical fee; peers like OKTG (0.75%) and TSMG (0.76%) charge less.
• One stock, double speed. The prospectus materials spell it out: an investor could lose the full value of the position within a single trading day.graniteshares.comgraniteshares.com 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 QCML profile⁠

Full TSMG profile⁠