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RVNL vs TSMG

GraniteShares 2x Long RIVN Daily ETF

RVNLCNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.46pt a year

RVNL1.22%TSMG0.76%

Avg volume · 30D

RVNL 1.6×the volume

RVNL109KTSMG68.1K

RVNL vs TSMG Performance

Nov 7, 2025 – Nov 9, 2026

−52.6%RVNL+40.3%TSMG

Nov 7, 2025 to Nov 9, 2026. RVNL −52.6%. TSMG +40.3%. Use the arrow keys to read each point.0%100%Nov 2025May 2026Nov 2026
Expense ratio
RVNL 1.22%
TSMG 0.76%, better
Fund size
RVNL $14M
TSMG $24M
1Y total return
RVNL −52.6%
TSMG +40.3%, better
Holdings
RVNL 2
TSMG 6
Avg volume (30D)
RVNL 109K sh, better
TSMG 68.1K sh
NAV per share
RVNL $16.72
TSMG $28.23
52W range

ETF.net Grade

RVNL: Cost 38, Risk 56, Mission 95, Tradability 74, Holdings not scored, Durability 70. TSMG: Cost 70, Risk 82, Mission 75, Tradability 76, Holdings not scored, Durability 66.
Pillar letters and Scores for RVNL, TSMG, with each pillar’s weight
PillarRVNLTSMG
Cost30% weightD38A70Higher
Mission25% weightA95HigherA75
Risk15% weightB56A82Higher
Tradability15% weightA74A76Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA70HigherB66

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. RVNL 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 RVNL 81st 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 81CQCMUDirexion Daily QCOM Bull 2X ETFScore 52
  5. Rank 81CRVNLGraniteShares 2x Long RIVN Daily ETFScore 52
  6. Rank 84CBEXTradr 2X Long BE Daily ETFScore 51

Our read on each fund

ETF.net Research

RVNLCGraniteShares 2x Long RIVN Daily ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

RVNL One lever, one stock: RVNL aims to deliver 2x Rivian's daily move, reset every trading day. The fee is 1.15% net of a waiver through December 31, 2026, against a 7.90% 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

RVNL The Fund seeks daily investment results, before fees and expenses, equal to two times the daily percentage change of Rivian Automotive Inc. It is not designed 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

  • RVNL Sticks closely to its stated 2x daily target, one of the stronger implementations in a crowded field of 2x single-stock funds.
  • Leverage comes from swap agreements held inside the fund, so the amplified exposure sits in an ordinary brokerage account instead of a margin account.sec.gov
  • Most single-stock leverage points at mega-caps. This one aims at Rivian, the electric-vehicle maker, in a ticker that trades like a stock.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

  • RVNL The 2x target resets daily. Hold longer and the result can drift well away from twice Rivian's move over the same stretch, especially in choppy markets.
  • At 1.15%, net of a waiver through December 31, 2026, the fee sits above the category median. Gross is 7.90%, so the waiver is doing real work.
  • Swap-based leverage carries counterparty risk, the fund is small by category standards, and it has made no distributions since launching in 2025.sec.gov
  • 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 RVNL profile⁠

Full TSMG profile⁠

RVNL 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.

RVNL vs TSMG Cost

Overpaying RVNL vs TSMG

$7,502

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

  • RVNL 1.22%

    $22,158

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • RVNL 1.22%
  • 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$25K051015202530RVNL $22,158TSMG $14,656

Year by year

YearRVNLTSMGOverpaying
10$2,131$1,353$778
20$7,931$5,142$2,789
30$22,158$14,656$7,502

Expense ratio

  • 1.22%RVNL
  • 0.76%TSMG, cheaper
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 312 funds

RVNL 227th cheapest of 312 funds

RVNL vs TSMG Dividends

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

Distribution history

Per share, 2025 to 2026, same scale for both

RVNLAll RVNL 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

RVNL vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
RVNL 77.6%since May 2025TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
RVNL −0.50since May 2025TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
RVNL −83.6%since Apr 2025TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
RVNL 0.73TSMG 3.98

Popular comparisons

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