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SMCX vs TSMG

Daily Target 2X Long SMCI ETF

SMCXCNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.56pt a year

SMCX1.32%TSMG0.76%

Avg volume · 30D

SMCX 86.1×the volume

SMCX5.94MTSMG69K

SMCX vs TSMG Performance

Oct 31, 2025 – Oct 30, 2026

−57.8%SMCX+40.8%TSMG

Oct 31, 2025 to Oct 30, 2026. SMCX −57.8%. TSMG +40.8%. Use the arrow keys to read each point.0%100%Oct 2025Apr 2026Oct 2026
Expense ratio
SMCX 1.32%
TSMG 0.76%, better
Fund size
SMCX $139M
TSMG $28M
1Y total return
SMCX −57.8%
TSMG +40.8%, better
Holdings
SMCX 11
TSMG 5
Avg volume (30D)
SMCX 5.94M sh, better
TSMG 69K sh
NAV per share
SMCX $8.19
TSMG $33.77
52W range

ETF.net Grade

SMCX: Cost 25, Risk 47, Mission not scored, Tradability 92, Holdings not scored, Durability 82. TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67.
Pillar letters and Scores for SMCX, TSMG, with each pillar’s weight
PillarSMCXTSMG
Cost30% weightD25A70Higher
Mission25% weightNot scoredA79
Risk15% weightC47A84Higher
Tradability15% weightA92HigherA74
Holdings10% weightNot scoredNot scored
Durability5% weightA82HigherB67

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. SMCX 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 SMCX 89th 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 89CSHPUDirexion Daily SHOP Bull 2X ETFScore 49
  4. Rank 89CSMCXDaily Target 2X Long SMCI ETFScore 49
  5. Rank 92CLLYXDaily Target 2X Long LLY ETFScore 48

Our read on each fund

ETF.net Research

SMCXCDaily Target 2X Long SMCI ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

SMCX Two times Super Micro's daily move, bought like any stock. The leverage resets every night, which makes SMCX a trading tool rather than a hold-and-forget position, and it carries a 1.32% expense ratio.

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

SMCX The fund seeks daily leveraged investment results equal to 200% of the daily percentage change in Super Micro Computer, Inc.'s share price.

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

  • SMCX The mandate is blunt: 200% of SMCI's daily percentage change. No discretion, no basket, no mystery about what moves it.
  • Very actively traded, so getting in and out usually costs little in spread, which matters when the holding period is measured in days.
  • Running since August 2024, and it stands as one of the stronger implementations among 2x single-stock bull funds.
  • 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

  • SMCX At 1.32% it sits above the typical single-stock leveraged fund, and above SMCC (0.45%), the other 2x fund on the same stock.
  • Leverage resets daily. Hold through a choppy stretch and the result can trail twice SMCI's move over that span, sometimes by a lot.
  • Everything rides on one company, doubled. A single earnings print or supply headline hits this fund twice as hard as the stock itself.
  • 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 SMCX profile⁠

Full TSMG profile⁠

SMCX 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.

SMCX vs TSMG Cost

Overpaying SMCX vs TSMG

$9,012

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

  • SMCX 1.32%

    $23,668

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • SMCX 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$25K051015202530SMCX $23,668TSMG $14,656

Year by year

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

Expense ratio

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

TSMG 131st cheapest of 315 funds

SMCX 243rd cheapest of 315 funds

SMCX vs TSMG Dividends

Last 12 months to Oct 30, 2026
Last payment
SMCX $1.00
TSMG $2.73
Ex-dividend
SMCX Dec 30, 2025
TSMG Dec 30, 2025
Paid on
SMCX Dec 31, 2025
TSMG Jan 2, 2026
Frequency
SMCX Irregular
TSMG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

SMCXIrregular · 1 paymentAll SMCX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $1.00. Use the arrow keys to read each point.$0$2.502026YTD
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

SMCX vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SMCX 174.8%since Sep 2024TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
SMCX 0.20since Sep 2024TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
SMCX −96.8%since Aug 2024TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
SMCX 7.80TSMG 3.81

Popular comparisons

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