FLYD vs. TSLZ

Last updated Aug 5, 2026

FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. FLYD is passively managed, while TSLZ is actively managed. Over the past year, FLYD returned -50.80% vs -51.66% for TSLZ. Their 0.38 correlation means their historical movements had little consistent relationship. FLYD charges 0.95%/yr vs 1.05%/yr for TSLZ.

Performance

FLYD vs. TSLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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 TSLZ's 30.55% 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%

TSLZ

• 1D: -3.37%
• 1M: 29.62%
• 6M: 18.97%
• YTD: 30.55%
• 1Y: -51.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -72.77%

*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
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	$38.09M	$32.22M	$41.20M

FLYD vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	-35.79%	-60.42%	-54.13%	-48.80%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	30.55%	-75.98%	-88.79%	-24.75%

Correlation

The correlation between FLYD and TSLZ 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 Oct 19, 2023	0.38

Return for Risk

FLYD vs. TSLZ — 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

TSLZ

TSLZ Risk / Return Rank: 5
TSLZ Sharpe Ratio Rank: 4
TSLZ Sortino Ratio Rank: 5
TSLZ Omega Ratio Rank: 5
TSLZ Calmar Ratio Rank: 3
TSLZ 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. TSLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	-0.56	-0.10
Sortino ratio: Return per unit of downside risk	-0.71	-0.48	-0.22
Omega ratio: Gain probability vs. loss probability	0.92	0.95	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.89	-0.76	-0.14
Martin ratio: Return relative to average drawdown	-1.66	-0.93	-0.73

FLYD vs. TSLZ - Sharpe Ratio Comparison

The current FLYD Sharpe Ratio is -0.66, which is comparable to the TSLZ Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of FLYD and TSLZ, 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. TSLZ - Drawdown Comparison

The maximum FLYD drawdown since its inception was -98.52%, roughly equal to the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for FLYD and TSLZ.

Drawdown Indicators

	FLYD	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-98.52%	-99.11%	+0.59%
Max Drawdown (1Y) Largest decline over 1 year	-57.09%	-68.61%	+11.52%
Max Drawdown (3Y) Largest decline over 3 years	-94.84%	—	—
Current Drawdown Current decline from peak	-98.52%	-98.63%	+0.11%
Average Drawdown Average peak-to-trough decline	-83.66%	-76.66%	-7.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.58%	55.35%	-24.77%

Volatility

FLYD vs. TSLZ - Volatility Comparison

The current volatility for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) is 22.74%, while T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) has a volatility of 32.71%. This indicates that FLYD experiences smaller price fluctuations and is considered to be less risky than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLYD	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.74%	32.71%	-9.97%
Volatility (6M) Calculated over the trailing 6-month period	64.36%	67.42%	-3.06%
Volatility (1Y) Calculated over the trailing 1-year period	76.85%	91.78%	-14.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.52%	117.59%	-34.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.52%	117.59%	-34.07%

FLYD vs. TSLZ - Expense Ratio Comparison

FLYD has a 0.95% expense ratio, which is lower than TSLZ's 1.05% expense ratio.

Dividends

FLYD vs. TSLZ - Dividend Comparison

FLYD has not paid dividends to shareholders, while TSLZ's dividend yield for the trailing twelve months is around 0.53%.

Position	TTM	2025	2024	2023
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	0.00%	0.00%	0.00%	0.00%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.53%	0.69%	2.08%	12.15%

Frequently Asked Questions

Can I hold both FLYD and TSLZ in my portfolio?

FLYD and TSLZ 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 TSLZ?

TSLZ has higher volatility (32.71%) compared to FLYD (22.74%). In terms of maximum drawdown, FLYD dropped -98.52% vs TSLZ's -99.11%.

Which ETF is better, FLYD or TSLZ?

On 1-year performance, FLYD leads with -50.80% vs -51.66% for TSLZ. On fees, FLYD is cheaper at 0.95% per year. 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 TSLZ?

Over the 1-year period, FLYD has performed better with a -50.80% return vs -51.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYD or TSLZ?

FLYD is cheaper with a 0.95% expense ratio, compared with 1.05% for TSLZ.

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

TSLZ has the higher dividend yield at 0.53%, compared with 0.00% for FLYD.

What is the main difference between FLYD and TSLZ?

They also come from different issuers: REX and T-Rex. Their fees differ too: 0.95% for FLYD and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSLZ currently has the higher Sharpe Ratio (-0.56 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.