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RCAX vs TSMG

Daily Target 2X Long RCAT ETF

RCAXDNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.54pt a year

RCAX1.30%TSMG0.76%

Avg volume · 30D

RCAX 1.2×the volume

RCAX84.3KTSMG69K

RCAX vs TSMG Performance

Jul 31, 2026 – Oct 30, 2026

−70.9%RCAX−4.6%TSMG

Jul 31, 2026 to Oct 30, 2026. RCAX −70.9%. TSMG −4.6%. Use the arrow keys to read each point.−50%50%100%Jul 2026Sep 2026Oct 2026
Expense ratio
RCAX 1.30%
TSMG 0.76%, better
Fund size
RCAX $3M
TSMG $28M
1Y total return
RCAX No data
TSMG +40.8%
Holdings
RCAX 8
TSMG 5
Avg volume (30D)
RCAX 84.3K sh, better
TSMG 69K sh
NAV per share
RCAX $4.00
TSMG $33.77
52W range

ETF.net Grade

RCAX: Cost 32, Risk 16, Mission 96, Tradability 26, Holdings not scored, Durability 50. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for RCAX, TSMG, with each pillar’s weight
PillarRCAXTSMG
Cost30% weightD32A70Higher
Mission25% weightA96HigherA79
Risk15% weightF16A84Higher
Tradability15% weightD26A74Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC50B67Higher

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. RCAX 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 RCAX 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 283DQSUDaily Target 2X Long QS ETFScore 28
  4. Rank 283DRCAXDaily Target 2X Long RCAT ETFScore 28
  5. Rank 289DAKALT-REX 2X Long AKAM Daily Target ETFScore 27

Our read on each fund

ETF.net Research

RCAXDDaily Target 2X Long RCAT ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

RCAX The first 2x long ETF on Red Cat Holdings, a military drone maker. It aims for 200% of RCAT's daily move, resets every night, and charges 1.30%.

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

RCAX The fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change in Red Cat Holdings, Inc.'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

  • RCAX Defiance built this as the first 2X long ETF on Red Cat Holdings, so amplified bullish exposure to one drone name takes a single ticker and no margin account.etfgi.com
  • The mandate is narrow and literal: two times RCAT's daily percentage change, before fees. Day to day, it has tracked that stated target closely.
  • Red Cat builds drone hardware and software for military, government and commercial users, so this is one concentrated name rather than a diluted drone basket.redcat.red
  • 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

  • RCAX Daily reset is the whole story. Hold past one session and compounding takes over, so multi-day results can diverge sharply from 2x RCAT's move, especially in choppy stretches.
  • At 1.30%, the fee sits above the category median and above 2x single-stock peers like TSMG (0.76%) and OKTG (0.75%).
  • Launched February 2026, it is still a small fund with a short record, and volume is moderate, so spreads and position size deserve a look before trading.
  • 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 RCAX profile⁠

Full TSMG profile⁠

RCAX 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.

RCAX vs TSMG Cost

Overpaying RCAX vs TSMG

$8,713

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

  • RCAX 1.30%

    $23,369

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • RCAX 1.30%
  • 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$25K051015202530RCAX $23,369TSMG $14,656

Year by year

YearRCAXTSMGOverpaying
10$2,263$1,353$910
20$8,393$5,142$3,251
30$23,369$14,656$8,713

Expense ratio

  • 1.30%RCAX
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

RCAX 229th cheapest of 315 funds

RCAX vs TSMG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

RCAXAll RCAX 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

RCAX vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
RCAX No dataTSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
RCAX No dataTSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
RCAX No dataTSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
RCAX 0.73TSMG 3.81

Popular comparisons

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    Daily Target 2X Long RCAT ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    1.30% · 0.77%
    Category
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  • TSMGAvsUNHGA

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    Expense ratio
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    Category
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