DUSL vs. TSLL

Last updated Aug 2, 2026

DUSL (Direxion Daily Industrials Bull 3X Shares) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both Leveraged Equities funds from Direxion. DUSL is passively managed, while TSLL is actively managed. Over the past 3 years, DUSL returned 39.27%/yr vs -20.90%/yr for TSLL. Their 0.37 correlation means their historical movements had little consistent relationship. DUSL charges 1.01%/yr vs 0.83%/yr for TSLL.

Performance

DUSL vs. TSLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Industrials Bull 3X Shares (DUSL) and Direxion Daily TSLA Bull 2X ETF (TSLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DUSL achieves a 39.99% return, which is significantly higher than TSLL's -61.15% return.

DUSL

• 1D: 2.43%
• 1M: -7.89%
• 6M: 17.29%
• YTD: 39.99%
• 1Y: 50.01%
• 3Y*: 39.27%
• 5Y*: 20.90%
• 10Y*: —
• ALL TIME*: 18.43%

TSLL

• 1D: 1.39%
• 1M: -40.57%
• 6M: -56.61%
• YTD: -61.15%
• 1Y: -25.18%
• 3Y*: -20.90%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -23.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DUSL Direxion Daily Industrials Bull 3X Shares	$913.54K	$1.33M	$1.65M
TSLL Direxion Daily TSLA Bull 2X ETF	$724.83M	$679.97M	$948.78M

DUSL vs. TSLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DUSL Direxion Daily Industrials Bull 3X Shares	39.99%	37.50%	34.75%	37.23%	-0.64%
TSLL Direxion Daily TSLA Bull 2X ETF	-61.15%	-26.80%	99.63%	139.86%	-74.99%

Correlation

The correlation between DUSL and TSLL is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (3Y) Balances recent behavior with more history.	0.36
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022	0.37

DUSL vs. TSLL - Sectors Allocation Comparison

Sectors	DUSL	TSLL
Industrials	18.8%	-
Technology	1.2%	-
Utilities	1.0%	-
Basic Materials	0.4%	-
Consumer Cyclical	0.2%	100.0%
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

DUSL vs. TSLL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DUSL

DUSL Risk / Return Rank: 37
DUSL Sharpe Ratio Rank: 34
DUSL Sortino Ratio Rank: 37
DUSL Omega Ratio Rank: 35
DUSL Calmar Ratio Rank: 38
DUSL Martin Ratio Rank: 41

TSLL

TSLL Risk / Return Rank: 8
TSLL Sharpe Ratio Rank: 7
TSLL Sortino Ratio Rank: 11
TSLL Omega Ratio Rank: 11
TSLL Calmar Ratio Rank: 6
TSLL Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DUSL vs. TSLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Industrials Bull 3X Shares (DUSL) and Direxion Daily TSLA Bull 2X ETF (TSLL). 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.

	DUSL	TSLL	Difference
Sharpe ratio: Return per unit of total volatility	0.85	-0.30	+1.15
Sortino ratio: Return per unit of downside risk	1.41	0.16	+1.25
Omega ratio: Gain probability vs. loss probability	1.17	1.02	+0.15
Calmar ratio: Return relative to maximum drawdown	1.30	-0.40	+1.69
Martin ratio: Return relative to average drawdown	4.31	-0.88	+5.19

DUSL vs. TSLL - Sharpe Ratio Comparison

The current DUSL Sharpe Ratio is 0.85, which is higher than the TSLL Sharpe Ratio of -0.30. The chart below compares the historical Sharpe Ratios of DUSL and TSLL, 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

DUSL vs. TSLL - Drawdown Comparison

The maximum DUSL drawdown since its inception was -85.74%, roughly equal to the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for DUSL and TSLL.

Drawdown Indicators

	DUSL	TSLL	Difference
Max Drawdown Largest peak-to-trough decline	-85.74%	-82.88%	-2.86%
Max Drawdown (1Y) Largest decline over 1 year	-33.68%	-70.13%	+36.45%
Max Drawdown (3Y) Largest decline over 3 years	-50.86%	-82.88%	+32.02%
Max Drawdown (5Y) Largest decline over 5 years	-58.43%	—	—
Current Drawdown Current decline from peak	-10.22%	-80.38%	+70.16%
Average Drawdown Average peak-to-trough decline	-21.74%	-54.36%	+32.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.13%	31.62%	-21.49%

Volatility

DUSL vs. TSLL - Volatility Comparison

The current volatility for Direxion Daily Industrials Bull 3X Shares (DUSL) is 14.35%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 43.16%. This indicates that DUSL experiences smaller price fluctuations and is considered to be less risky than TSLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DUSL	TSLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.35%	43.16%	-28.81%
Volatility (6M) Calculated over the trailing 6-month period	42.40%	70.52%	-28.12%
Volatility (1Y) Calculated over the trailing 1-year period	51.40%	92.41%	-41.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.05%	107.78%	-54.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.54%	107.78%	-46.24%

DUSL vs. TSLL - Expense Ratio Comparison

DUSL has a 1.01% expense ratio, which is higher than TSLL's 0.83% expense ratio.

Dividends

DUSL vs. TSLL - Dividend Comparison

DUSL's dividend yield for the trailing twelve months is around 8.07%, less than TSLL's 13.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUSL Direxion Daily Industrials Bull 3X Shares	8.07%	11.39%	6.61%	1.28%	0.66%	0.07%	0.48%	1.01%	1.46%	0.57%
TSLL Direxion Daily TSLA Bull 2X ETF	13.48%	5.00%	2.47%	4.44%	1.57%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DUSL and TSLL in my portfolio?

DUSL and TSLL have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUSL or TSLL?

TSLL has higher volatility (43.16%) compared to DUSL (14.35%). In terms of maximum drawdown, DUSL dropped -85.74% vs TSLL's -82.88%.

Which ETF is better, DUSL or TSLL?

On 3-year performance, DUSL leads with 39.27% vs -20.90% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, DUSL has been the lower-risk option at 14.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DUSL or TSLL?

Over the 3-year period, DUSL has performed better with a 39.27% return vs -20.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUSL or TSLL?

TSLL is cheaper with a 0.83% expense ratio, compared with 1.01% for DUSL.

Which ETF pays a higher dividend yield, DUSL or TSLL?

TSLL has the higher dividend yield at 13.48%, compared with 8.07% for DUSL.

What is the main difference between DUSL and TSLL?

Their fees differ too: 1.01% for DUSL and 0.83% for TSLL.

Which has better risk-adjusted returns?

DUSL currently has the higher Sharpe Ratio (0.85 vs -0.30), 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.