IONL vs. TSYY

Last updated Jun 25, 2026

IONL (GraniteShares 2x Long IONQ Daily ETF) and TSYY (GraniteShares YieldBOOST TSLA ETF) are both exchange-traded funds - IONL is a Leveraged Equities fund tracking the IonQ Inc. (IONQ), while TSYY is a Derivative Income fund actively managed by GraniteShares. IONL is passively managed, while TSYY is actively managed. Over the past year, IONL returned -38.37% vs -12.95% for TSYY. At a 0.37 correlation, their price movements are largely independent. IONL charges 1.50%/yr vs 1.15%/yr for TSYY.

Performance

IONL vs. TSYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long IONQ Daily ETF (IONL) and GraniteShares YieldBOOST TSLA ETF (TSYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IONL achieves a -15.57% return, which is significantly higher than TSYY's -18.05% return.

IONL

• 1D: -14.51%
• 1M: -35.59%
• YTD: -15.57%
• 6M: -32.34%
• 1Y: -38.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSYY

• 1D: -1.17%
• 1M: -3.13%
• YTD: -18.05%
• 6M: -25.52%
• 1Y: -12.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IONL vs. TSYY - Yearly Performance Comparison

	2026 (YTD)	2025
IONL GraniteShares 2x Long IONQ Daily ETF	-15.57%	38.57%
TSYY GraniteShares YieldBOOST TSLA ETF	-18.05%	14.90%

Correlation

The correlation between IONL and TSYY 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 Mar 25, 2025	0.37

Return for Risk

IONL vs. TSYY — Risk / Return Rank

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

IONL

IONL Risk / Return Rank: 11
IONL Sharpe Ratio Rank: 7
IONL Sortino Ratio Rank: 20
IONL Omega Ratio Rank: 18
IONL Calmar Ratio Rank: 6
IONL Martin Ratio Rank: 7

TSYY

TSYY Risk / Return Rank: 5
TSYY Sharpe Ratio Rank: 6
TSYY Sortino Ratio Rank: 6
TSYY Omega Ratio Rank: 5
TSYY Calmar Ratio Rank: 5
TSYY Martin Ratio Rank: 5

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.

IONL vs. TSYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long IONQ Daily ETF (IONL) and GraniteShares YieldBOOST TSLA ETF (TSYY). 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.

	IONL	TSYY	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	-0.42	+0.21
Sortino ratio: Return per unit of downside risk	1.02	-0.37	+1.39
Omega ratio: Gain probability vs. loss probability	1.11	0.95	+0.16
Calmar ratio: Return relative to maximum drawdown	-0.41	-0.46	+0.05
Martin ratio: Return relative to average drawdown	-0.60	-0.83	+0.23

IONL vs. TSYY - Sharpe Ratio Comparison

The current IONL Sharpe Ratio is -0.21, which is higher than the TSYY Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of IONL and TSYY, 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

IONL vs. TSYY - Drawdown Comparison

The maximum IONL drawdown since its inception was -93.41%, which is greater than TSYY's maximum drawdown of -41.52%. Use the drawdown chart below to compare losses from any high point for IONL and TSYY.

Drawdown Indicators

	IONL	TSYY	Difference
Max Drawdown Largest peak-to-trough decline	-93.41%	-41.52%	-51.89%
Max Drawdown (1Y) Largest decline over 1 year	-93.41%	-28.39%	-65.02%
Current Drawdown Current decline from peak	-80.23%	-37.80%	-42.43%
Average Drawdown Average peak-to-trough decline	-51.11%	-26.26%	-24.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	64.53%	15.70%	+48.83%

Volatility

IONL vs. TSYY - Volatility Comparison

GraniteShares 2x Long IONQ Daily ETF (IONL) has a higher volatility of 56.95% compared to GraniteShares YieldBOOST TSLA ETF (TSYY) at 6.17%. This indicates that IONL's price experiences larger fluctuations and is considered to be riskier than TSYY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IONL	TSYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	56.95%	6.17%	+50.78%
Volatility (6M) Calculated over the trailing 6-month period	134.66%	19.63%	+115.03%
Volatility (1Y) Calculated over the trailing 1-year period	186.73%	31.23%	+155.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	195.89%	37.13%	+158.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	195.89%	37.13%	+158.76%

IONL vs. TSYY - Expense Ratio Comparison

IONL has a 1.50% expense ratio, which is higher than TSYY's 1.15% expense ratio.

Dividends

IONL vs. TSYY - Dividend Comparison

IONL has not paid dividends to shareholders, while TSYY's dividend yield for the trailing twelve months is around 267.34%.

Position	TTM	2025	2024
IONL GraniteShares 2x Long IONQ Daily ETF	0.00%	0.00%	0.00%
TSYY GraniteShares YieldBOOST TSLA ETF	267.34%	256.64%	0.19%

Frequently Asked Questions

Can I hold both IONL and TSYY in my portfolio?

IONL and TSYY 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 is riskier, IONL or TSYY?

IONL has higher volatility (56.95%) compared to TSYY (6.17%). In terms of maximum drawdown, IONL dropped -93.41% vs TSYY's -41.52%.

Which ETF is better, IONL or TSYY?

On 1-year performance, TSYY leads with -12.95% vs -38.37% for IONL. On fees, TSYY is cheaper at 1.15% per year. On volatility, TSYY has been the lower-risk option at 6.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IONL or TSYY?

Over the 1-year period, TSYY has performed better with a -12.95% return vs -38.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IONL or TSYY?

TSYY is cheaper with a 1.15% expense ratio, compared with 1.50% for IONL.

Which ETF pays a higher dividend yield, IONL or TSYY?

TSYY has the higher dividend yield at 267.34%, compared with 0.00% for IONL.

What is the main difference between IONL and TSYY?

IONL is categorized as Leveraged Equities, while TSYY is Derivative Income. Their fees differ too: 1.50% for IONL and 1.15% for TSYY.

Which has better risk-adjusted returns?

IONL currently has the higher Sharpe Ratio (-0.21 vs -0.42), 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.