BAR vs. TSL

Last updated Jun 4, 2026

BAR (GraniteShares Gold Trust) and TSL (GraniteShares 1.25x Long Tsla Daily ETF) are both exchange-traded funds - BAR is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while TSL is a Leveraged Equities fund actively managed by GraniteShares. BAR is passively managed, while TSL is actively managed. Over the past 3 years, BAR returned 31.38%/yr vs 20.28%/yr for TSL. At a 0.06 correlation, their price movements are largely independent. BAR charges 0.17%/yr vs 1.15%/yr for TSL.

Performance

BAR vs. TSL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Gold Trust (BAR) and GraniteShares 1.25x Long Tsla Daily ETF (TSL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BAR achieves a 2.94% return, which is significantly higher than TSL's -9.40% return.

BAR

• 1D: -1.02%
• 1M: -1.62%
• YTD: 2.94%
• 6M: 5.50%
• 1Y: 32.26%
• 3Y*: 31.38%
• 5Y*: 18.41%
• 10Y*: —

TSL

• 1D: -0.11%
• 1M: 9.37%
• YTD: -9.40%
• 6M: -9.11%
• 1Y: 20.41%
• 3Y*: 20.28%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BAR vs. TSL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BAR GraniteShares Gold Trust	2.94%	64.12%	26.97%	12.96%	1.49%
TSL GraniteShares 1.25x Long Tsla Daily ETF	-9.40%	3.49%	64.12%	113.79%	-66.58%

Correlation

The correlation between BAR and TSL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	0.06

Return for Risk

BAR vs. TSL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAR

BAR Risk / Return Rank: 32
BAR Sharpe Ratio Rank: 33
BAR Sortino Ratio Rank: 30
BAR Omega Ratio Rank: 36
BAR Calmar Ratio Rank: 34
BAR Martin Ratio Rank: 29

TSL

TSL Risk / Return Rank: 16
TSL Sharpe Ratio Rank: 14
TSL Sortino Ratio Rank: 17
TSL Omega Ratio Rank: 17
TSL Calmar Ratio Rank: 16
TSL Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BAR vs. TSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and GraniteShares 1.25x Long Tsla Daily ETF (TSL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BAR	TSL	Difference
Sharpe ratio: Return per unit of total volatility	1.23	0.35	+0.87
Sortino ratio: Return per unit of downside risk	1.62	0.87	+0.75
Omega ratio: Gain probability vs. loss probability	1.25	1.11	+0.14
Calmar ratio: Return relative to maximum drawdown	1.69	0.55	+1.14
Martin ratio: Return relative to average drawdown	4.19	1.26	+2.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAR vs. TSL - Sharpe Ratio Comparison

The current BAR Sharpe Ratio is 1.23, which is higher than the TSL Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of BAR and TSL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BAR	TSL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	0.35	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.03	+0.87

Drawdowns

BAR vs. TSL - Drawdown Comparison

The maximum BAR drawdown since its inception was -21.53%, smaller than the maximum TSL drawdown of -74.52%. Use the drawdown chart below to compare losses from any high point for BAR and TSL.

Drawdown Indicators

	BAR	TSL	Difference
Max Drawdown Largest peak-to-trough decline	-21.53%	-74.52%	+52.99%
Max Drawdown (1Y) Largest decline over 1 year	-19.19%	-36.98%	+17.79%
Max Drawdown (3Y) Largest decline over 3 years	-19.19%	-63.30%	+44.11%
Max Drawdown (5Y) Largest decline over 5 years	-20.91%	—	—
Current Drawdown Current decline from peak	-17.72%	-24.91%	+7.19%
Average Drawdown Average peak-to-trough decline	-6.45%	-38.71%	+32.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.72%	16.38%	-8.66%

Volatility

BAR vs. TSL - Volatility Comparison

The current volatility for GraniteShares Gold Trust (BAR) is 5.46%, while GraniteShares 1.25x Long Tsla Daily ETF (TSL) has a volatility of 15.25%. This indicates that BAR experiences smaller price fluctuations and is considered to be less risky than TSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAR	TSL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	15.25%	-9.79%
Volatility (6M) Calculated over the trailing 6-month period	23.03%	34.12%	-11.09%
Volatility (1Y) Calculated over the trailing 1-year period	26.43%	57.94%	-31.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	73.18%	-55.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.38%	73.18%	-56.80%

BAR vs. TSL - Expense Ratio Comparison

BAR has a 0.17% expense ratio, which is lower than TSL's 1.15% expense ratio.

Dividends

BAR vs. TSL - Dividend Comparison

Neither BAR nor TSL has paid dividends to shareholders.

Position	TTM	2025	2024	2023
BAR GraniteShares Gold Trust	0.00%	0.00%	0.00%	0.00%
TSL GraniteShares 1.25x Long Tsla Daily ETF	0.00%	0.00%	0.00%	60.47%

Frequently Asked Questions

Can I hold both BAR and TSL in my portfolio?

BAR and TSL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BAR or TSL?

TSL has higher volatility (15.25%) compared to BAR (5.46%). In terms of maximum drawdown, BAR dropped -21.53% vs TSL's -74.52%.

Which ETF is better, BAR or TSL?

On 3-year performance, BAR leads with 31.38% vs 20.28% for TSL. On fees, BAR is cheaper at 0.17% per year. On volatility, BAR has been the lower-risk option at 5.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BAR or TSL?

Over the 3-year period, BAR has performed better with a 31.38% return vs 20.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BAR or TSL?

BAR is cheaper with a 0.17% expense ratio, compared with 1.15% for TSL.

Which ETF pays a higher dividend yield, BAR or TSL?

BAR and TSL have nearly identical dividend yields, around 0.00%.

What is the main difference between BAR and TSL?

BAR is categorized as Gold, while TSL is Leveraged Equities. Their fees differ too: 0.17% for BAR and 1.15% for TSL.

Which has better risk-adjusted returns?

BAR currently has the higher Sharpe Ratio (1.23 vs 0.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.