EVAV vs. TSLG

Last updated Jun 4, 2026

EVAV (Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares) and TSLG (Leverage Shares 2X Long TSLA Daily ETF) are both Leveraged Equities funds. EVAV is passively managed, while TSLG is actively managed. At a 0.46 correlation, their price movements are largely independent. EVAV charges 0.98%/yr vs 0.75%/yr for TSLG.

Performance

EVAV vs. TSLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and Leverage Shares 2X Long TSLA Daily ETF (TSLG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EVAV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLG

• 1D: -0.14%
• 1M: 13.71%
• YTD: -20.82%
• 6M: -21.35%
• 1Y: 7.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVAV vs. TSLG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.00%	33.87%	-2.65%
TSLG Leverage Shares 2X Long TSLA Daily ETF	-20.82%	-26.70%	-16.81%

Correlation

The correlation between EVAV and TSLG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	0.46

The correlation between EVAV and TSLG shifts across timeframes, from 0.32 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EVAV vs. TSLG — Risk / Return Rank

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

TSLG

TSLG Risk / Return Rank: 12
TSLG Sharpe Ratio Rank: 9
TSLG Sortino Ratio Rank: 16
TSLG Omega Ratio Rank: 16
TSLG Calmar Ratio Rank: 10
TSLG Martin Ratio Rank: 10

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.

EVAV vs. TSLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and Leverage Shares 2X Long TSLA Daily ETF (TSLG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EVAV	TSLG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.34	—

Drawdowns

Drawdown Indicators

	EVAV	TSLG	Difference
Max Drawdown Largest peak-to-trough decline	—	-82.86%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-54.61%	—
Current Drawdown Current decline from peak	—	-60.00%	—
Average Drawdown Average peak-to-trough decline	—	-58.73%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	26.63%	—

Volatility

Volatility by Period

	EVAV	TSLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	24.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	54.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	92.53%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	115.31%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	115.31%	—

EVAV vs. TSLG - Expense Ratio Comparison

EVAV has a 0.98% expense ratio, which is higher than TSLG's 0.75% expense ratio.

Dividends

EVAV vs. TSLG - Dividend Comparison

EVAV's dividend yield for the trailing twelve months is around 0.81%, less than TSLG's 8.27% yield.

Position	TTM	2025	2024	2023	2022
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.81%	0.97%	2.52%	2.34%	0.51%
TSLG Leverage Shares 2X Long TSLA Daily ETF	8.27%	6.55%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVAV and TSLG in my portfolio?

EVAV and TSLG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVAV or TSLG?

On fees, TSLG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVAV or TSLG?

TSLG is cheaper with a 0.75% expense ratio, compared with 0.98% for EVAV.

Which ETF pays a higher dividend yield, EVAV or TSLG?

TSLG has the higher dividend yield at 8.27%, compared with 0.81% for EVAV.

What is the main difference between EVAV and TSLG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.98% for EVAV and 0.75% for TSLG.