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SOUX vs TSMG

Daily Target 2X Long SOUN ETF

SOUXDNasdaq

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

Overlap

Expense ratio

TSMG −0.56pt a year

SOUX1.32%TSMG0.76%

Avg volume · 30D

SOUX 1.4×the volume

SOUX97.7KTSMG68.1K

SOUX vs TSMG Performance

Nov 7, 2025 – Nov 9, 2026

−96.5%SOUX+40.3%TSMG

Nov 7, 2025 to Nov 9, 2026. SOUX −96.5%. TSMG +40.3%. Use the arrow keys to read each point.−50%0%100%Nov 2025May 2026Nov 2026
Expense ratio
SOUX 1.32%
TSMG 0.76%, better
Fund size
SOUX $4M
TSMG $24M
1Y total return
SOUX −96.5%
TSMG +40.3%, better
Holdings
SOUX 10
TSMG 6
Avg volume (30D)
SOUX 97.7K sh, better
TSMG 68.1K sh
NAV per share
SOUX $3.57
TSMG $28.23
52W range

ETF.net Grade

SOUX: Cost 26, Risk 24, Mission 96, Tradability 37, Holdings not scored, Durability 59. TSMG: Cost 70, Risk 82, Mission 75, Tradability 76, Holdings not scored, Durability 66.
Pillar letters and Scores for SOUX, TSMG, with each pillar’s weight
PillarSOUXTSMG
Cost30% weightD26A70Higher
Mission25% weightA96HigherA75
Risk15% weightF24A82Higher
Tradability15% weightD37A76Higher
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. SOUX 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 SOUX 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 284DRIOXDaily Target 2X Long RIOT ETFScore 30
  5. Rank 284DSOUXDaily Target 2X Long SOUN ETFScore 30
  6. Rank 288DMSTPGraniteShares 2x Long MSTR Daily ETFScore 29

Our read on each fund

ETF.net Research

SOUXDDaily Target 2X Long SOUN ETF

TSMGALeverage Shares 2x Long TSM Daily ETF

In short

SOUX SoundHound AI at double volume, one day at a time. Defiance got to this trade first: 2x daily SOUN exposure through swaps, no margin account needed. The leverage resets each day, and it charges 1.32% a year.

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

SOUX The Fund seeks daily investment results equal to twice the daily percentage change in SoundHound AI, Inc.'s share price, 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

  • SOUX First out of the gate on SoundHound AI (June 2025 launch): 2x daily exposure that sits in a plain brokerage account, no margin agreement required.etfgi.com
  • Since launch it has stayed close to its stated target of 200% of SOUN's daily move, before fees.
  • One ticker, one job: double the day's move in a single stock, built with swaps inside a 1940 Act fund rather than a note.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

  • SOUX At 1.32% it costs more than the cheapest 2x single-stock funds (TSMG 0.76%, OKTG 0.75%, neither waived) and above the category median.
  • The daily reset is the whole mechanism: over longer stretches, compounding can push returns away from 2x the stock's move, especially in choppy markets.defianceetfs.com
  • Still a small, moderately traded fund, so spreads and liquidity are part of the cost of doing business.
  • 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 SOUX profile⁠

Full TSMG profile⁠

SOUX 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.

SOUX vs TSMG Cost

Overpaying SOUX vs TSMG

$9,012

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

  • SOUX 1.32%

    $23,668

  • TSMG 0.76%

    $14,656

$10,000
30 years

Cost over time

  • SOUX 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$25K051015202530SOUX $23,668TSMG $14,656

Year by year

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

Expense ratio

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

TSMG 131st cheapest of 312 funds

SOUX 243rd cheapest of 312 funds

SOUX vs TSMG Dividends

Last 12 months to Nov 9, 2026
Last payment
SOUX $8.84
TSMG $2.73
Ex-dividend
SOUX Dec 30, 2025
TSMG Dec 30, 2025
Paid on
SOUX Dec 31, 2025
TSMG Jan 2, 2026
Frequency
SOUX Irregular
TSMG Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

SOUXIrregular · 1 paymentAll SOUX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $8.84. Use the arrow keys to read each point.$0$102026YTD
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$102026YTD

SOUX vs TSMG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SOUX 119.6%since Jul 2025TSMG 77.9%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
SOUX −1.15since Jul 2025TSMG 0.97since Feb 2025
Worst fallMax drawdown, 5 years
SOUX −98.6%since Jun 2025TSMG −63.7%since Jan 2025
Market sensitivityBeta, 5 years
SOUX 6.94TSMG 3.98

Popular comparisons

  • SOUXDvsUNHGA

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

    Expense ratio
    1.32% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSMGAvsUNHGA

    Leverage Shares 2x Long TSM Daily ETF · Leverage Shares 2x Long UNH Daily ETF

    Expense ratio
    0.76% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SOUXDvsCOTGA

    Daily Target 2X Long SOUN ETF · Leverage Shares 2X Long COST Daily ETF

    Expense ratio
    1.32% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSMGAvsCOTGA

    Leverage Shares 2x Long TSM Daily ETF · Leverage Shares 2X Long COST Daily ETF

    Expense ratio
    0.76% · 0.77%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SOUXDvsOKTGA

    Daily Target 2X Long SOUN ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    1.32% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSMGAvsOKTGA

    Leverage Shares 2x Long TSM Daily ETF · Leverage Shares 2x Long OKTA Daily ETF

    Expense ratio
    0.76% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.