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TSMG vs UBRL

Leverage Shares 2x Long TSM Daily ETF

TSMGANasdaq

GraniteShares 2x Long Uber Daily ETF

UBRLCNasdaq

Overlap

Expense ratio

TSMG −0.42pt a year

TSMG0.76%UBRL1.18%

Avg volume · 30D

UBRL 3.1×the volume

TSMG69KUBRL215K

TSMG vs UBRL Performance

Oct 31, 2025 – Nov 2, 2026

+36.4%TSMG−61.0%UBRL

Oct 31, 2025 to Nov 2, 2026. TSMG +36.4%. UBRL −61.0%. Use the arrow keys to read each point.−25%0%75%100%Oct 2025May 2026Nov 2026
Expense ratio
TSMG 0.76%, better
UBRL 1.18%
Fund size
TSMG $28M
UBRL $28M
1Y total return
TSMG +36.4%, better
UBRL −61.0%
Holdings
TSMG 5
UBRL 2
Avg volume (30D)
TSMG 69K sh
UBRL 215K sh, better
NAV per share
TSMG $33.77
UBRL $11.47
52W range

ETF.net Grade

TSMG: Cost 70, Risk 84, Mission 79, Tradability 74, Holdings not scored, Durability 67. UBRL: Cost 37, Risk 55, Mission 87, Tradability 77, Holdings not scored, Durability 77.
Pillar letters and Scores for TSMG, UBRL, with each pillar’s weight
PillarTSMGUBRL
Cost30% weightA70HigherD37
Mission25% weightA79A87Higher
Risk15% weightA84HigherB55
Tradability15% weightA74A77Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB67A77Higher

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. TSMG and UBRL 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 UBRL 76th 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 71CSOFADirexion Daily SOFI Bull 2X ETFScore 54
  4. Rank 76CUBRLGraniteShares 2x Long Uber Daily ETFScore 53
  5. Rank 76CUUUGLeverage Shares 2x Long UUUU Daily ETFScore 53

Our read on each fund

ETF.net Research

TSMGALeverage Shares 2x Long TSM Daily ETF

UBRLCGraniteShares 2x Long Uber Daily ETF

In short

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.

UBRL Two times Uber's daily move, in one ticker. GraniteShares points a swap at a single ride-hailing and delivery stock and resets the leverage every day, at 1.15% net of a waiver through December 31, 2026. Built as a trading tool, per its own factsheet.

Stated mandate

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.

UBRL The Fund seeks daily investment results equal to two times the daily percentage change in Uber Technologies Corporation's common stock, before fees and expenses.

Why people hold it

  • 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.
  • UBRL A clean mandate: 2x the daily percentage change in Uber's common stock, before fees. No stock picking, no index committee, one number to watch.graniteshares.com
  • Day-to-day results have stayed close to that 2x daily target, one of the stronger implementations in the leveraged single-stock crowd.
  • Live since 2024 through plenty of Uber news flow, and traded enough on a normal day to absorb ordinary retail-size orders.

Worth knowing

  • 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.
  • UBRL Daily reset: hold longer than a day and compounding takes over, so multi-day results can land well above or below 2x Uber's move over the same stretch.graniteshares.com
  • Pricey for the aisle: 1.15% net of a waiver through December 31, 2026 (1.35% gross), against 0.75% at OKTG and 0.76% at TSMG.
  • One company, doubled. Uber-specific headlines (regulation, driver costs, robotaxi deals) hit roughly twice as hard, with no other holdings to cushion them.graniteshares.com

Full TSMG profile⁠

Full UBRL profile⁠

TSMG vs UBRL 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.

TSMG vs UBRL Cost

Overpaying UBRL vs TSMG

$6,887

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

  • TSMG 0.76%

    $14,656

  • UBRL 1.18%

    $21,543

$10,000
30 years

Cost over time

  • TSMG 0.76%
  • UBRL 1.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530UBRL $21,543TSMG $14,656

Year by year

YearTSMGUBRLOverpaying
10$1,353$2,065$712
20$5,142$7,697$2,555
30$14,656$21,543$6,887

Expense ratio

  • 0.76%TSMG, cheaper
  • 1.18%UBRL
  • Middle half of Single-Stock Long Leveraged funds
  • Median 0.97%

TSMG 131st cheapest of 315 funds

UBRL 224th cheapest of 315 funds

TSMG vs UBRL Dividends

Last 12 months to Nov 2, 2026
Last payment
TSMG $2.73
UBRL $2.22
Ex-dividend
TSMG Dec 30, 2025
UBRL Dec 29, 2025
Paid on
TSMG Jan 2, 2026
UBRL Dec 31, 2025
Frequency
TSMG Irregular
UBRL Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

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
UBRLIrregular · 1 paymentAll UBRL payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 29, 2025 $2.22. Use the arrow keys to read each point.$0$2.502026YTD

TSMG vs UBRL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TSMG 77.9%since Feb 2025UBRL 50.6%since Oct 2024
Return per unit of riskSharpe ratio, 3 years
TSMG 0.97since Feb 2025UBRL −0.54since Oct 2024
Worst fallMax drawdown, 5 years
TSMG −63.7%since Jan 2025UBRL −65.6%since Sep 2024
Market sensitivityBeta, 5 years
TSMG 3.81UBRL 1.48

Popular comparisons

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

    Expense ratio
    0.76% · 0.77%
    Category
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  • UBRLCvsUNHGA

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    Expense ratio
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