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QSU vs TSMG

Daily Target 2X Long QS ETF

QSUDNYSE Arca

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.56pt a year

QSU1.32%TSMG0.76%

Avg volume · 30D

QSU 1.4×the volume

QSU95.8KTSMG68.1K

QSU vs TSMG Performance

Nov 7, 2025 – Nov 9, 2026

−96.9%QSU+40.3%TSMG

Nov 7, 2025 to Nov 9, 2026. QSU −96.9%. TSMG +40.3%. Use the arrow keys to read each point.−50%0%100%Nov 2025May 2026Nov 2026
Expense ratio
QSU 1.32%
TSMG 0.76%, better
Fund size
QSU $5M
TSMG $24M
1Y total return
QSU −96.9%
TSMG +40.3%, better
Holdings
QSU 9
TSMG 6
Avg volume (30D)
QSU 95.8K sh, better
TSMG 68.1K sh
NAV per share
QSU $3.13
TSMG $28.23
52W range

ETF.net Grade

QSU: Cost 26, Risk 20, Mission 89, Tradability 40, Holdings not scored, Durability 59. TSMG: Cost 70, Risk 82, Mission 75, Tradability 76, Holdings not scored, Durability 66.
Pillar letters and Scores for QSU, TSMG, with each pillar’s weight
PillarQSUTSMG
Cost30% weightD26A70Higher
Mission25% weightA89HigherA75
Risk15% weightF20A82Higher
Tradability15% weightC40A76Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB59B66Higher

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. QSU and TSMG are both graded against the same 312 Single-Stock Long Leveraged funds, so their Grades compare head to head.

Single-Stock Long Leveraged⁠

Category · 312 funds
See all 312 ›

TSMG ranks 2nd and QSU 284th of 312 funds in the Single-Stock Long Leveraged Category.

  1. Rank 1AUNHGLeverage Shares 2x Long UNH Daily ETFScore 74
  2. Rank 2ATSMGLeverage Shares 2x Long TSM Daily ETFScore 73
  3. Rank 3ACOTGLeverage Shares 2X Long COST Daily ETFScore 70
  4. Rank 284DOKLLDaily Target 2X Long OKLO ETFScore 30
  5. Rank 284DQSUDaily Target 2X Long QS ETFScore 30
  6. Rank 284DRIOXDaily Target 2X Long RIOT ETFScore 30

Our read on each fund

ETF.net Research

QSUDDaily Target 2X Long QS ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

QSU The first 2x ETF on QuantumScape. QSU aims to deliver 200% of QS's daily move, resets every session, and charges 1.32% a year with no fee waiver.

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

QSU The Fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in QuantumScape Corporation's share price. It is designed for a single trading day rather than longer holding periods.

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

  • QSU Defiance got there first: QSU launched in 2025 as the debut 2x long vehicle on QuantumScape, the solid-state battery developer.nasdaq.com
  • The daily math is the entire job, and QSU has hit its stated 200% target closely.
  • It is a registered 1940 Act fund, so the position is sized in shares: no margin account, no option expiry, no loss beyond what you put in.defianceetfs.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

  • QSU The leverage resets daily. Hold longer and results compound, so a choppy stretch in QS can leave the fund well off 2x the stock's move for the period.
  • At 1.32% with no waiver, it runs above the category median and above 2x single-stock peers like TSMG (0.76%) and OKTG (0.75%), neither of which waives fees.
  • Young and small: a 2025 launch with a modest asset base, moderate trading, and every dollar riding on one company's share price.
  • 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 QSU profile⁠

Full TSMG profile⁠

QSU 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.

QSU vs TSMG Cost

Overpaying QSU vs TSMG

$9,012

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

  • QSU 1.32%

    $23,668

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • QSU 1.32%
  • 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$25K051015202530QSU $23,668TSMG $14,656

Year by year

YearQSUTSMGOverpaying
10$2,296$1,353$943
20$8,507$5,142$3,365
30$23,668$14,656$9,012

Expense ratio

  • 1.32%QSU
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 312 funds

QSU 243rd cheapest of 312 funds

QSU vs TSMG Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
QSU None
TSMG No data
Last payment
QSU No data
TSMG $2.73
Ex-dividend
QSU No data
TSMG Dec 30, 2025
Paid on
QSU No data
TSMG Jan 2, 2026
Frequency
QSU No data
TSMG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

QSUAll QSU 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

QSU vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
QSU 108.1%since Nov 2025TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
QSU −2.55since Nov 2025TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
QSU −98.2%since Oct 2025TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
QSU 5.66TSMG 3.98

Popular comparisons

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