EURL vs. TSLL

Last updated Jun 24, 2026

EURL (Direxion Daily FTSE Europe Bull 3x Shares) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both Leveraged Equities funds from Direxion. EURL is passively managed, while TSLL is actively managed. Over the past 3 years, EURL returned 31.43%/yr vs -7.12%/yr for TSLL. At a 0.36 correlation, their price movements are largely independent. EURL charges 1.07%/yr vs 0.83%/yr for TSLL.

Performance

EURL vs. TSLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily FTSE Europe Bull 3x Shares (EURL) 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, EURL achieves a 7.25% return, which is significantly higher than TSLL's -37.67% return.

EURL

• 1D: -4.78%
• 1M: -3.51%
• YTD: 7.25%
• 6M: 6.76%
• 1Y: 40.13%
• 3Y*: 31.43%
• 5Y*: 5.36%
• 10Y*: 11.85%

TSLL

• 1D: -12.25%
• 1M: -22.54%
• YTD: -37.67%
• 6M: -46.82%
• 1Y: -13.37%
• 3Y*: -7.12%
• 5Y*: —
• 10Y*: —

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

EURL vs. TSLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EURL Direxion Daily FTSE Europe Bull 3x Shares	7.25%	105.85%	-11.42%	44.19%	-6.89%
TSLL Direxion Daily TSLA Bull 2X ETF	-37.67%	-26.80%	99.63%	139.86%	-74.99%

Correlation

The correlation between EURL and TSLL is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022	0.36

EURL vs. TSLL - Sectors Allocation Comparison

Sectors	EURL	TSLL
Financial Services	23.5%	-
Industrials	20.4%	-
Healthcare	12.5%	-
Technology	8.5%	-
Consumer Defensive	7.9%	-
Consumer Cyclical	7.0%	100.0%
Basic Materials	5.5%	-
Energy	5.4%	-
Utilities	4.7%	-
Communication Services	3.1%	-
Real Estate	1.6%	-

Return for Risk

EURL vs. TSLL — Risk / Return Rank

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

EURL

EURL Risk / Return Rank: 26
EURL Sharpe Ratio Rank: 25
EURL Sortino Ratio Rank: 27
EURL Omega Ratio Rank: 26
EURL Calmar Ratio Rank: 26
EURL Martin Ratio Rank: 29

TSLL

TSLL Risk / Return Rank: 8
TSLL Sharpe Ratio Rank: 7
TSLL Sortino Ratio Rank: 11
TSLL Omega Ratio Rank: 10
TSLL Calmar Ratio Rank: 7
TSLL Martin Ratio Rank: 7

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.

EURL vs. TSLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) 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.

	EURL	TSLL	Difference
Sharpe ratio: Return per unit of total volatility	0.84	-0.15	+0.99
Sortino ratio: Return per unit of downside risk	1.41	0.39	+1.02
Omega ratio: Gain probability vs. loss probability	1.17	1.04	+0.13
Calmar ratio: Return relative to maximum drawdown	1.22	-0.25	+1.47
Martin ratio: Return relative to average drawdown	3.80	-0.49	+4.29

EURL vs. TSLL - Sharpe Ratio Comparison

The current EURL Sharpe Ratio is 0.84, which is higher than the TSLL Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of EURL 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

EURL vs. TSLL - Drawdown Comparison

The maximum EURL drawdown since its inception was -84.65%, roughly equal to the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for EURL and TSLL.

Drawdown Indicators

	EURL	TSLL	Difference
Max Drawdown Largest peak-to-trough decline	-84.65%	-82.88%	-1.77%
Max Drawdown (1Y) Largest decline over 1 year	-33.05%	-54.75%	+21.70%
Max Drawdown (3Y) Largest decline over 3 years	-38.81%	-82.88%	+44.07%
Max Drawdown (5Y) Largest decline over 5 years	-75.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-84.65%	—	—
Current Drawdown Current decline from peak	-13.96%	-68.52%	+54.56%
Average Drawdown Average peak-to-trough decline	-36.86%	-53.92%	+17.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.59%	27.78%	-17.19%

Volatility

EURL vs. TSLL - Volatility Comparison

The current volatility for Direxion Daily FTSE Europe Bull 3x Shares (EURL) is 15.92%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 28.98%. This indicates that EURL 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

	EURL	TSLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.92%	28.98%	-13.06%
Volatility (6M) Calculated over the trailing 6-month period	40.62%	56.84%	-16.22%
Volatility (1Y) Calculated over the trailing 1-year period	47.94%	89.07%	-41.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.51%	106.91%	-53.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.72%	106.91%	-52.19%

EURL vs. TSLL - Expense Ratio Comparison

EURL has a 1.07% expense ratio, which is higher than TSLL's 0.83% expense ratio.

Dividends

EURL vs. TSLL - Dividend Comparison

EURL's dividend yield for the trailing twelve months is around 1.46%, less than TSLL's 8.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.46%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%
TSLL Direxion Daily TSLA Bull 2X ETF	8.21%	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 EURL and TSLL in my portfolio?

EURL and TSLL have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EURL or TSLL?

TSLL has higher volatility (28.98%) compared to EURL (15.92%). In terms of maximum drawdown, EURL dropped -84.65% vs TSLL's -82.88%.

Which ETF is better, EURL or TSLL?

On 3-year performance, EURL leads with 31.43% vs -7.12% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, EURL has been the lower-risk option at 15.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EURL or TSLL?

Over the 3-year period, EURL has performed better with a 31.43% return vs -7.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EURL or TSLL?

TSLL is cheaper with a 0.83% expense ratio, compared with 1.07% for EURL.

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

TSLL has the higher dividend yield at 8.21%, compared with 1.46% for EURL.

What is the main difference between EURL and TSLL?

Their fees differ too: 1.07% for EURL and 0.83% for TSLL.

Which has better risk-adjusted returns?

EURL currently has the higher Sharpe Ratio (0.84 vs -0.15), 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.