GDXD vs. TSLS
GDXD (MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040) and TSLS (Direxion Daily TSLA Bear 1X ETF) are both Inverse Equities funds - GDXD tracks the S-Network MicroSectors Gold Miners Index while TSLS tracks the Tesla, Inc. (-100% Daily). Both are passively managed. Over the past 3 years, GDXD returned -83.55%/yr vs -27.51%/yr for TSLS. Their 0.16 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
GDXD vs. TSLS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GDXD achieves a -42.32% return, which is significantly lower than TSLS's 33.30% return.
GDXD
- 1D
- 10.48%
- 1M
- 10.38%
- 6M
- -10.42%
- YTD
- -42.32%
- 1Y
- -91.93%
- 3Y*
- -83.55%
- 5Y*
- -73.29%
- 10Y*
- —
- ALL TIME*
- -70.78%
TSLS
- 1D
- -0.74%
- 1M
- 22.65%
- 6M
- 27.99%
- YTD
- 33.30%
- 1Y
- -14.97%
- 3Y*
- -27.51%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -25.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.58M | $21.95M | $29.87M | |
| $28.97M | $27.46M | $30.88M |
GDXD vs. TSLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 | -42.32% | -97.53% | -57.78% | -52.35% | -50.55% |
TSLS Direxion Daily TSLA Bear 1X ETF | 33.30% | -34.95% | -55.71% | -60.12% | 105.60% |
Correlation
The correlation between GDXD and TSLS is 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.31 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.16 |
The correlation between GDXD and TSLS shifts across timeframes, from 0.16 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GDXD vs. TSLS — Risk / Return Rank
GDXD
TSLS
GDXD vs. TSLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) and Direxion Daily TSLA Bear 1X ETF (TSLS). 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.
| GDXD | TSLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.99 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.32 | -0.64 |
| Martin ratioReturn relative to average drawdown | -1.11 | -0.45 | -0.66 |
Loading charts...
Drawdowns
GDXD vs. TSLS - Drawdown Comparison
The maximum GDXD drawdown since its inception was -99.96%, which is greater than TSLS's maximum drawdown of -90.73%. Use the drawdown chart below to compare losses from any high point for GDXD and TSLS.
Loading charts...
Drawdown Indicators
| GDXD | TSLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -90.73% | -9.23% |
Max Drawdown (1Y)Largest decline over 1 year | -95.95% | -41.36% | -54.59% |
Max Drawdown (3Y)Largest decline over 3 years | -99.86% | -84.16% | -15.70% |
Max Drawdown (5Y)Largest decline over 5 years | -99.96% | — | — |
Current DrawdownCurrent decline from peak | -99.92% | -86.56% | -13.36% |
Average DrawdownAverage peak-to-trough decline | -72.59% | -64.44% | -8.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 83.56% | 29.53% | +54.03% |
Volatility
GDXD vs. TSLS - Volatility Comparison
MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 (GDXD) has a higher volatility of 40.76% compared to Direxion Daily TSLA Bear 1X ETF (TSLS) at 19.07%. This indicates that GDXD's price experiences larger fluctuations and is considered to be riskier than TSLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GDXD | TSLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.76% | 19.07% | +21.69% |
Volatility (6M)Calculated over the trailing 6-month period | 118.25% | 33.98% | +84.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 146.68% | 46.81% | +99.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.62% | 58.98% | +53.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.97% | 58.98% | +51.99% |
GDXD vs. TSLS - Expense Ratio Comparison
Both GDXD and TSLS have an expense ratio of 0.95%.
Dividends
GDXD vs. TSLS - Dividend Comparison
GDXD has not paid dividends to shareholders, while TSLS's dividend yield for the trailing twelve months is around 2.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs due June 29, 2040 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TSLS Direxion Daily TSLA Bear 1X ETF | 2.36% | 4.30% | 7.62% | 4.52% | 3.46% |
Frequently Asked Questions
GDXD and TSLS have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDXD has higher volatility (40.76%) compared to TSLS (19.07%). In terms of maximum drawdown, GDXD dropped -99.96% vs TSLS's -90.73%.
On 3-year performance, TSLS leads with -27.51% vs -83.55% for GDXD. Both ETFs have the same 0.95% expense ratio. On volatility, TSLS has been the lower-risk option at 19.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLS has performed better with a -27.51% return vs -83.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDXD and TSLS have the same expense ratio: 0.95% per year.
TSLS has the higher dividend yield at 2.36%, compared with 0.00% for GDXD.
GDXD tracks S-Network MicroSectors Gold Miners Index, while TSLS tracks Tesla, Inc. (-100% Daily). They also come from different issuers: BMO and Direxion.
TSLS currently has the higher Sharpe Ratio (-0.28 vs -0.63), 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.
Find the right allocation for GDXD and TSLS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer