MSDD vs. TSDD

Last updated Jun 24, 2026

MSDD (GraniteShares 2x Short MSTR Daily ETF) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both Inverse Equities funds from GraniteShares. Both are actively managed. Over the past year, MSDD returned 69.58% vs -50.11% for TSDD. At a 0.39 correlation, their price movements are largely independent. Both charge a 1.50% expense ratio.

Performance

MSDD vs. TSDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short MSTR Daily ETF (MSDD) 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, MSDD achieves a -48.72% return, which is significantly lower than TSDD's 12.81% return.

MSDD

• 1D: 0.00%
• 1M: 44.94%
• YTD: -48.72%
• 6M: -45.00%
• 1Y: 69.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSDD

• 1D: 11.65%
• 1M: 18.16%
• YTD: 12.81%
• 6M: 31.20%
• 1Y: -50.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSDD vs. TSDD - Yearly Performance Comparison

	2026 (YTD)	2025
MSDD GraniteShares 2x Short MSTR Daily ETF	-48.72%	274.52%
TSDD GraniteShares 2x Short TSLA Daily ETF	12.81%	-66.62%

Correlation

The correlation between MSDD and TSDD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	0.39

MSDD vs. TSDD - Sectors Allocation Comparison

Sectors	MSDD	TSDD
Technology	200.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	200.1%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MSDD vs. TSDD — Risk / Return Rank

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

MSDD

MSDD Risk / Return Rank: 24
MSDD Sharpe Ratio Rank: 17
MSDD Sortino Ratio Rank: 32
MSDD Omega Ratio Rank: 33
MSDD Calmar Ratio Rank: 20
MSDD Martin Ratio Rank: 16

TSDD

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

MSDD vs. TSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short MSTR Daily ETF (MSDD) 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.

	MSDD	TSDD	Difference
Sharpe ratio: Return per unit of total volatility	0.50	-0.57	+1.07
Sortino ratio: Return per unit of downside risk	1.61	-0.50	+2.11
Omega ratio: Gain probability vs. loss probability	1.21	0.95	+0.26
Calmar ratio: Return relative to maximum drawdown	0.82	-0.69	+1.52
Martin ratio: Return relative to average drawdown	1.63	-0.89	+2.52

MSDD vs. TSDD - Sharpe Ratio Comparison

The current MSDD Sharpe Ratio is 0.50, which is higher than the TSDD Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of MSDD 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

MSDD vs. TSDD - Drawdown Comparison

The maximum MSDD drawdown since its inception was -84.91%, smaller than the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for MSDD and TSDD.

Drawdown Indicators

	MSDD	TSDD	Difference
Max Drawdown Largest peak-to-trough decline	-84.91%	-99.03%	+14.12%
Max Drawdown (1Y) Largest decline over 1 year	-84.91%	-72.39%	-12.52%
Current Drawdown Current decline from peak	-68.63%	-98.71%	+30.08%
Average Drawdown Average peak-to-trough decline	-31.26%	-71.62%	+40.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.14%	56.48%	-13.34%

Volatility

MSDD vs. TSDD - Volatility Comparison

GraniteShares 2x Short MSTR Daily ETF (MSDD) has a higher volatility of 32.28% compared to GraniteShares 2x Short TSLA Daily ETF (TSDD) at 27.76%. This indicates that MSDD's price experiences larger fluctuations and is considered to be riskier than TSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSDD	TSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.28%	27.76%	+4.52%
Volatility (6M) Calculated over the trailing 6-month period	124.65%	56.76%	+67.89%
Volatility (1Y) Calculated over the trailing 1-year period	140.94%	89.21%	+51.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	138.85%	114.32%	+24.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	138.85%	114.32%	+24.53%

MSDD vs. TSDD - Expense Ratio Comparison

Both MSDD and TSDD have an expense ratio of 1.50%.

Dividends

MSDD vs. TSDD - Dividend Comparison

MSDD has not paid dividends to shareholders, while TSDD's dividend yield for the trailing twelve months is around 7.47%.

Position	TTM	2025	2024	2023
MSDD GraniteShares 2x Short MSTR Daily ETF	0.00%	0.00%	0.00%	0.00%
TSDD GraniteShares 2x Short TSLA Daily ETF	7.47%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both MSDD and TSDD in my portfolio?

MSDD and TSDD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSDD or TSDD?

MSDD has higher volatility (32.28%) compared to TSDD (27.76%). In terms of maximum drawdown, MSDD dropped -84.91% vs TSDD's -99.03%.

Which ETF is better, MSDD or TSDD?

On 1-year performance, MSDD leads with 69.58% vs -50.11% for TSDD. Both ETFs have the same 1.50% expense ratio. On volatility, TSDD has been the lower-risk option at 27.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSDD or TSDD?

Over the 1-year period, MSDD has performed better with a 69.58% return vs -50.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSDD or TSDD?

MSDD and TSDD have the same expense ratio: 1.50% per year.

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

TSDD has the higher dividend yield at 7.47%, compared with 0.00% for MSDD.

Which has better risk-adjusted returns?

MSDD currently has the higher Sharpe Ratio (0.50 vs -0.57), 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.