FLYD vs. TSDD

Last updated Aug 5, 2026

FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both Inverse Equities funds. FLYD is passively managed, while TSDD is actively managed. Over the past year, FLYD returned -50.80% vs -49.98% for TSDD. Their 0.38 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.

Performance

FLYD vs. TSDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and GraniteShares 2x Short TSLA Daily ETF (TSDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLYD achieves a -35.79% return, which is significantly lower than TSDD's 32.99% return.

FLYD

• 1D: -4.90%
• 1M: -5.05%
• 6M: -41.66%
• YTD: -35.79%
• 1Y: -50.80%
• 3Y*: -55.10%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -63.67%

TSDD

• 1D: -3.20%
• 1M: 30.29%
• 6M: 20.80%
• YTD: 32.99%
• 1Y: -49.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -69.97%

*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)
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	$99.59K	$120.72K	$126.93K
TSDD GraniteShares 2x Short TSLA Daily ETF	$136.76M	$152.27M	$195.19M

FLYD vs. TSDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	-35.79%	-60.42%	-54.13%	-29.97%
TSDD GraniteShares 2x Short TSLA Daily ETF	32.99%	-74.84%	-89.21%	-20.49%

Correlation

The correlation between FLYD and TSDD is 0.30, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.30
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	0.38

FLYD vs. TSDD - Sectors Allocation Comparison

Sectors	FLYD	TSDD
Consumer Cyclical	50.0%	200.0%
Industrials	25.5%	-
Technology	17.1%	-
Communication Services	7.4%	-
Real Estate	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

FLYD vs. TSDD — Risk / Return Rank

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

FLYD

FLYD Risk / Return Rank: 3
FLYD Sharpe Ratio Rank: 4
FLYD Sortino Ratio Rank: 4
FLYD Omega Ratio Rank: 4
FLYD Calmar Ratio Rank: 2
FLYD Martin Ratio Rank: 0

TSDD

TSDD Risk / Return Rank: 5
TSDD Sharpe Ratio Rank: 4
TSDD Sortino Ratio Rank: 6
TSDD Omega Ratio Rank: 6
TSDD Calmar Ratio Rank: 3
TSDD 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.

FLYD vs. TSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and GraniteShares 2x Short TSLA Daily ETF (TSDD). 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.

	FLYD	TSDD	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	-0.54	-0.12
Sortino ratio: Return per unit of downside risk	-0.71	-0.41	-0.29
Omega ratio: Gain probability vs. loss probability	0.92	0.95	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.89	-0.73	-0.16
Martin ratio: Return relative to average drawdown	-1.66	-0.92	-0.75

FLYD vs. TSDD - Sharpe Ratio Comparison

The current FLYD Sharpe Ratio is -0.66, which is comparable to the TSDD Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of FLYD and TSDD, 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

FLYD vs. TSDD - Drawdown Comparison

The maximum FLYD drawdown since its inception was -98.52%, roughly equal to the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for FLYD and TSDD.

Drawdown Indicators

	FLYD	TSDD	Difference
Max Drawdown Largest peak-to-trough decline	-98.52%	-99.03%	+0.51%
Max Drawdown (1Y) Largest decline over 1 year	-57.09%	-68.22%	+11.13%
Max Drawdown (3Y) Largest decline over 3 years	-94.84%	—	—
Current Drawdown Current decline from peak	-98.52%	-98.48%	-0.04%
Average Drawdown Average peak-to-trough decline	-83.66%	-72.68%	-10.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.58%	54.61%	-24.03%

Volatility

FLYD vs. TSDD - Volatility Comparison

The current volatility for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) is 22.74%, while GraniteShares 2x Short TSLA Daily ETF (TSDD) has a volatility of 32.59%. This indicates that FLYD experiences smaller price fluctuations and is considered to be less risky than TSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLYD	TSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.74%	32.59%	-9.85%
Volatility (6M) Calculated over the trailing 6-month period	64.36%	67.52%	-3.16%
Volatility (1Y) Calculated over the trailing 1-year period	76.85%	92.70%	-15.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.52%	115.13%	-31.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.52%	115.13%	-31.61%

FLYD vs. TSDD - Expense Ratio Comparison

Both FLYD and TSDD have an expense ratio of 0.95%.

Dividends

FLYD vs. TSDD - Dividend Comparison

FLYD has not paid dividends to shareholders, while TSDD's dividend yield for the trailing twelve months is around 6.33%.

Position	TTM	2025	2024	2023
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	0.00%	0.00%	0.00%	0.00%
TSDD GraniteShares 2x Short TSLA Daily ETF	6.33%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both FLYD and TSDD in my portfolio?

FLYD and TSDD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYD or TSDD?

TSDD has higher volatility (32.59%) compared to FLYD (22.74%). In terms of maximum drawdown, FLYD dropped -98.52% vs TSDD's -99.03%.

Which ETF is better, FLYD or TSDD?

On 1-year performance, TSDD leads with -49.98% vs -50.80% for FLYD. Both ETFs have the same 0.95% expense ratio. On volatility, FLYD has been the lower-risk option at 22.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYD or TSDD?

Over the 1-year period, TSDD has performed better with a -49.98% return vs -50.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYD or TSDD?

FLYD and TSDD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, FLYD or TSDD?

TSDD has the higher dividend yield at 6.33%, compared with 0.00% for FLYD.

What is the main difference between FLYD and TSDD?

They also come from different issuers: REX and GraniteShares.

Which has better risk-adjusted returns?

TSDD currently has the higher Sharpe Ratio (-0.54 vs -0.66), 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.