TSMU +2x GraniteShares 2x Long TSM Daily ETF

TSMU

ETF +2x BULL standard
GraniteShares 2x Long TSM Daily ETF
Issuer: GraniteShares · Tracks: TSM · Listed: 2024-11-11
Implied AUM
$60.8M
Last Close
$64.03
20260720
30d Avg Vol
94,169
Options
available
Realized return vs theoretical +2x TSM
Other leveraged products tracking TSM
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
TSMX +2x BULL Direxion Direxion Shares ETF Trust Direxion Daily TSM Bull 2X ETF $651.1M 1,013,082
TSMG +2x BULL Leverage Shares Leverage Shares 2X Long TSM Daily ETF $30.9M 109,000

How TSMU works

TSMU targets +2x the daily return of TSM — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on TSMU carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.