MOON vs. TSLL

Last updated Jun 4, 2026

MOON (Direxion Moonshot Innovators ETF) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - MOON is a Technology Equities fund tracking the S&P Kensho Moonshots Index, while TSLL is a Leveraged Equities fund actively managed by Direxion. MOON is passively managed, while TSLL is actively managed. At a 0.33 correlation, their price movements are largely independent. MOON charges 0.65%/yr vs 0.83%/yr for TSLL.

Performance

MOON vs. TSLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Moonshot Innovators ETF (MOON) and Direxion Daily TSLA Bull 2X ETF (TSLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MOON

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

TSLL

• 1D: 0.00%
• 1M: 13.88%
• YTD: -20.85%
• 6M: -21.38%
• 1Y: 7.17%
• 3Y*: 9.79%
• 5Y*: —
• 10Y*: —

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

MOON vs. TSLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	-8.56%	9.85%	-34.46%
TSLL Direxion Daily TSLA Bull 2X ETF	-20.85%	-26.80%	99.63%	139.86%	-73.85%

Correlation

The correlation between MOON and TSLL is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022	0.33

The correlation between MOON and TSLL shifts across timeframes, from 0.23 (3 years) to 0.33 (all time), reflecting how their relationship changes across market environments.

MOON vs. TSLL - Sectors Allocation Comparison

Sectors	MOON	TSLL
Technology	42.4%	-
Healthcare	23.5%	-
Consumer Cyclical	11.9%	100.0%
Communication Services	9.3%	-
Industrials	7.5%	-
Financial Services	4.2%	-
Basic Materials	1.2%	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MOON vs. TSLL — Risk / Return Rank

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

TSLL

TSLL Risk / Return Rank: 12
TSLL Sharpe Ratio Rank: 9
TSLL Sortino Ratio Rank: 15
TSLL Omega Ratio Rank: 15
TSLL Calmar Ratio Rank: 10
TSLL 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.

MOON vs. TSLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Moonshot Innovators ETF (MOON) and Direxion Daily TSLA Bull 2X ETF (TSLL). 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

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

Drawdowns

Drawdown Indicators

	MOON	TSLL	Difference
Max Drawdown Largest peak-to-trough decline	—	-82.88%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-54.75%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-82.88%	—
Current Drawdown Current decline from peak	—	-60.03%	—
Average Drawdown Average peak-to-trough decline	—	-53.82%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	26.72%	—

Volatility

Volatility by Period

	MOON	TSLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	24.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	54.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	92.38%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	106.87%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	106.87%	—

MOON vs. TSLL - Expense Ratio Comparison

MOON has a 0.65% expense ratio, which is lower than TSLL's 0.83% expense ratio.

Dividends

MOON vs. TSLL - Dividend Comparison

MOON has not paid dividends to shareholders, while TSLL's dividend yield for the trailing twelve months is around 6.46%.

Position	TTM	2025	2024	2023	2022	2021
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	0.62%	1.41%	0.00%	1.64%
TSLL Direxion Daily TSLA Bull 2X ETF	6.46%	5.00%	2.47%	4.44%	1.57%	0.00%

Frequently Asked Questions

Can I hold both MOON and TSLL in my portfolio?

MOON and TSLL have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MOON or TSLL?

On fees, MOON is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MOON or TSLL?

MOON is cheaper with a 0.65% expense ratio, compared with 0.83% for TSLL.

Which ETF pays a higher dividend yield, MOON or TSLL?

TSLL has the higher dividend yield at 6.46%, compared with 0.00% for MOON.

What is the main difference between MOON and TSLL?

MOON is categorized as Technology Equities, while TSLL is Leveraged Equities. Their fees differ too: 0.65% for MOON and 0.83% for TSLL.