GraniteShares 2x Long TSM Daily ETF (TSMU) Performance
TSMU total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +46.3% since Dec 31, 2025
- 1 year
- +53.3% total return
- Since first price
- +163.6% since 2024
TSMU trailing returns vs SPY, QQQ, AGG
| Period | TSMU total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −14.6% | −14.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.4% | −5.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +1.6% | +1.6% | +7.8% | +8.4% | −1.5% |
| YTD | +46.3% | +46.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +53.3% | +53.3% | +14.4% | +15.9% | −1.1% |
| Since inceptionNov 12, 2024 | +163.6% | +163.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TSMU vs SPY
From Nov 12, 2024: TSMU grew to $26,358, SPY to $13,026.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TSMU returns by calendar year
1 of 1 full years positive. Best 2025 (+74.8%), worst 2025 (+74.8%). 2026 is year to date.
TSMU annual returns table
| Year | TSMU | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +46.3% | −40.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +74.8% | −63.7% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TSMU largest drawdowns
Now 30.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 23, 2025 | −63.7% | Apr 8, 2025 | Jul 17, 2025 | 2 months | 6 months |
| Jun 30, 2026 | −40.7% | Jul 29, 2026 | not yet | 29 days | 4 months so far |
| Feb 25, 2026 | −35.2% | Mar 30, 2026 | Apr 24, 2026 | 33 days | 58 days |
| Oct 8, 2025 | −21.6% | Dec 17, 2025 | Jan 2, 2026 | 2 months | 3 months |
| Jun 2, 2026 | −17.2% | Jun 10, 2026 | Jun 18, 2026 | 8 days | 16 days |
| Jan 6, 2025 | −17.0% | Jan 13, 2025 | Jan 22, 2025 | 7 days | 16 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TSMU risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +98.2% |
| Volatility (annualized) | 71.7% |
| Sharpe ratio | 1.26 |
| Sortino ratio | 2.38 |
| Best month | +43.9% |
| Worst month | −31.0% |
| Best 12 months | +334.3% |
| Worst 12 months | +74.8% |
| Positive months | 68% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TSMU rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 12 | +44.4% | +123.1% | +334.3% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
TSMU performance overview
GraniteShares 2x Long TSM Daily ETF (TSMU) returned +53.3% over the past year, with distributions reinvested. Since its first recorded price on Nov 12, 2024 it has returned +163.6%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −63.7%, from Jan 23, 2025 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 71.7% a year.
Related: TSMU chart. See the TSMU overview for the latest quote and fund facts.
TSMU performance FAQ
What is the TSMU return over the past year?
TSMU returned +53.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 53.3%.
How much would $10,000 invested in TSMU be worth?
$10,000 invested in TSMU at its first recorded close on November 12, 2024 would be worth about $26,358 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of TSMU?
The largest peak-to-trough decline was −63.7% between January 23, 2025 and April 8, 2025. It recovered to the old high on July 17, 2025, 3 months after the bottom.
How volatile is TSMU?
Over the past history TSMU had an annualized volatility of 71.7% and a Sharpe ratio of 1.26 (excess return over 1–3 month T-bills per unit of risk).