DLLL vs. SIXH

Last updated Jun 24, 2026

DLLL (GraniteShares 2x Long DELL Daily ETF) and SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) are both exchange-traded funds - DLLL is a Leveraged Equities fund tracking the Dell Technologies Inc. (DELL), while SIXH is a Volatility Hedged Equity fund actively managed by Exchange Traded Concepts. DLLL is passively managed, while SIXH is actively managed. Over the past year, DLLL returned 765.95% vs 13.45% for SIXH. At a correlation of -0.06, they often move in opposite directions. DLLL charges 1.50%/yr vs 0.87%/yr for SIXH.

Performance

DLLL vs. SIXH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long DELL Daily ETF (DLLL) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLLL achieves a 762.51% return, which is significantly higher than SIXH's 10.10% return.

DLLL

• 1D: 4.21%
• 1M: 89.37%
• YTD: 762.51%
• 6M: 738.64%
• 1Y: 765.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SIXH

• 1D: 0.45%
• 1M: 1.32%
• YTD: 10.10%
• 6M: 10.25%
• 1Y: 13.45%
• 3Y*: 13.36%
• 5Y*: 9.64%
• 10Y*: —

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

DLLL vs. SIXH - Yearly Performance Comparison

	2026 (YTD)	2025
DLLL GraniteShares 2x Long DELL Daily ETF	762.51%	-3.72%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	10.10%	4.14%

Correlation

The correlation between DLLL and SIXH is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.06

Return for Risk

DLLL vs. SIXH — Risk / Return Rank

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

DLLL

DLLL Risk / Return Rank: 96
DLLL Sharpe Ratio Rank: 99
DLLL Sortino Ratio Rank: 94
DLLL Omega Ratio Rank: 92
DLLL Calmar Ratio Rank: 98
DLLL Martin Ratio Rank: 95

SIXH

SIXH Risk / Return Rank: 57
SIXH Sharpe Ratio Rank: 56
SIXH Sortino Ratio Rank: 63
SIXH Omega Ratio Rank: 53
SIXH Calmar Ratio Rank: 66
SIXH Martin Ratio Rank: 49

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.

DLLL vs. SIXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long DELL Daily ETF (DLLL) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DLLL	SIXH	Difference
Sharpe ratio: Return per unit of total volatility	5.91	1.76	+4.14
Sortino ratio: Return per unit of downside risk	4.55	2.74	+1.81
Omega ratio: Gain probability vs. loss probability	1.56	1.31	+0.25
Calmar ratio: Return relative to maximum drawdown	13.52	3.09	+10.43
Martin ratio: Return relative to average drawdown	27.52	7.85	+19.68

DLLL vs. SIXH - Sharpe Ratio Comparison

The current DLLL Sharpe Ratio is 5.91, which is higher than the SIXH Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of DLLL and SIXH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DLLL vs. SIXH - Drawdown Comparison

The maximum DLLL drawdown since its inception was -68.58%, which is greater than SIXH's maximum drawdown of -11.68%. Use the drawdown chart below to compare losses from any high point for DLLL and SIXH.

Drawdown Indicators

	DLLL	SIXH	Difference
Max Drawdown Largest peak-to-trough decline	-68.58%	-11.68%	-56.90%
Max Drawdown (1Y) Largest decline over 1 year	-57.19%	-4.36%	-52.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.68%	—
Current Drawdown Current decline from peak	-18.41%	-0.02%	-18.39%
Average Drawdown Average peak-to-trough decline	-25.86%	-1.84%	-24.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.05%	1.72%	+26.33%

Volatility

DLLL vs. SIXH - Volatility Comparison

GraniteShares 2x Long DELL Daily ETF (DLLL) has a higher volatility of 66.89% compared to 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) at 2.29%. This indicates that DLLL's price experiences larger fluctuations and is considered to be riskier than SIXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLLL	SIXH	Difference
Volatility (1M) Calculated over the trailing 1-month period	66.89%	2.29%	+64.60%
Volatility (6M) Calculated over the trailing 6-month period	102.56%	6.08%	+96.48%
Volatility (1Y) Calculated over the trailing 1-year period	131.00%	7.67%	+123.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	129.67%	10.37%	+119.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	129.67%	10.12%	+119.55%

DLLL vs. SIXH - Expense Ratio Comparison

DLLL has a 1.50% expense ratio, which is higher than SIXH's 0.87% expense ratio.

Dividends

DLLL vs. SIXH - Dividend Comparison

DLLL has not paid dividends to shareholders, while SIXH's dividend yield for the trailing twelve months is around 1.85%.

Position	TTM	2025	2024	2023	2022	2021	2020
DLLL GraniteShares 2x Long DELL Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.85%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%

Frequently Asked Questions

Can I hold both DLLL and SIXH in my portfolio?

DLLL and SIXH 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, DLLL or SIXH?

DLLL has higher volatility (66.89%) compared to SIXH (2.29%). In terms of maximum drawdown, DLLL dropped -68.58% vs SIXH's -11.68%.

Which ETF is better, DLLL or SIXH?

On 1-year performance, DLLL leads with 765.95% vs 13.45% for SIXH. On fees, SIXH is cheaper at 0.87% per year. On volatility, SIXH has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DLLL or SIXH?

Over the 1-year period, DLLL has performed better with a 765.95% return vs 13.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DLLL or SIXH?

SIXH is cheaper with a 0.87% expense ratio, compared with 1.50% for DLLL.

Which ETF pays a higher dividend yield, DLLL or SIXH?

SIXH has the higher dividend yield at 1.85%, compared with 0.00% for DLLL.

What is the main difference between DLLL and SIXH?

DLLL is categorized as Leveraged Equities, while SIXH is Volatility Hedged Equity. They also come from different issuers: GraniteShares and Exchange Traded Concepts. Their fees differ too: 1.50% for DLLL and 0.87% for SIXH.

Which has better risk-adjusted returns?

DLLL currently has the higher Sharpe Ratio (5.91 vs 1.76), 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.