MSFD vs. TSLL
MSFD (Direxion Daily MSFT Bear 1X Shares) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - MSFD is a Inverse Equities fund tracking the Microsoft Corporation (-100%), while TSLL is a Leveraged Equities fund actively managed by Direxion. MSFD is passively managed, while TSLL is actively managed. Over the past 3 years, MSFD returned -10.70%/yr vs -20.90%/yr for TSLL. Their -0.33 correlation means they have often moved in opposite directions in the past. MSFD charges 1.06%/yr vs 0.83%/yr for TSLL.
Performance
MSFD vs. TSLL - Performance Comparison
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Returns By Period
In the year-to-date period, MSFD achieves a -1.78% return, which is significantly higher than TSLL's -61.15% return.
MSFD
- 1D
- -2.88%
- 1M
- -18.05%
- 6M
- -11.78%
- YTD
- -1.78%
- 1Y
- 7.40%
- 3Y*
- -10.70%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -15.36%
TSLL
- 1D
- 1.39%
- 1M
- -40.57%
- 6M
- -56.61%
- YTD
- -61.15%
- 1Y
- -25.18%
- 3Y*
- -20.90%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -23.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $21.45M | $15.41M | $22.03M | |
| $724.83M | $679.97M | $948.78M |
MSFD vs. TSLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSFD Direxion Daily MSFT Bear 1X Shares | -1.78% | -13.36% | -7.86% | -35.90% | 3.88% |
TSLL Direxion Daily TSLA Bull 2X ETF | -61.15% | -26.80% | 99.63% | 139.86% | -72.29% |
Correlation
The correlation between MSFD and TSLL is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.22 |
Correlation (3Y) Balances recent behavior with more history. | -0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.33 |
The correlation between MSFD and TSLL shifts across timeframes, from -0.33 (all time) to -0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MSFD vs. TSLL — Risk / Return Rank
MSFD
TSLL
MSFD vs. TSLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bear 1X Shares (MSFD) 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.
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.
| MSFD | TSLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.02 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | -0.40 | +0.75 |
| Martin ratioReturn relative to average drawdown | 1.20 | -0.88 | +2.08 |
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Drawdowns
MSFD vs. TSLL - Drawdown Comparison
The maximum MSFD drawdown since its inception was -59.90%, smaller than the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for MSFD and TSLL.
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Drawdown Indicators
| MSFD | TSLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.90% | -82.88% | +22.98% |
Max Drawdown (1Y)Largest decline over 1 year | -26.54% | -70.13% | +43.59% |
Max Drawdown (3Y)Largest decline over 3 years | -40.50% | -82.88% | +42.38% |
Current DrawdownCurrent decline from peak | -55.70% | -80.38% | +24.68% |
Average DrawdownAverage peak-to-trough decline | -41.72% | -54.36% | +12.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.87% | 31.62% | -23.75% |
Volatility
MSFD vs. TSLL - Volatility Comparison
The current volatility for Direxion Daily MSFT Bear 1X Shares (MSFD) is 18.10%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 43.16%. This indicates that MSFD experiences smaller price fluctuations and is considered to be less risky than TSLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFD | TSLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.10% | 43.16% | -25.06% |
Volatility (6M)Calculated over the trailing 6-month period | 27.83% | 70.52% | -42.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.03% | 92.41% | -60.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.55% | 107.78% | -80.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.55% | 107.78% | -80.23% |
MSFD vs. TSLL - Expense Ratio Comparison
MSFD has a 1.06% expense ratio, which is higher than TSLL's 0.83% expense ratio.
Dividends
MSFD vs. TSLL - Dividend Comparison
MSFD's dividend yield for the trailing twelve months is around 4.02%, less than TSLL's 13.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MSFD Direxion Daily MSFT Bear 1X Shares | 4.02% | 3.33% | 4.46% | 4.43% | 0.74% |
TSLL Direxion Daily TSLA Bull 2X ETF | 13.48% | 5.00% | 2.47% | 4.44% | 1.57% |
Frequently Asked Questions
MSFD and TSLL have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLL has higher volatility (43.16%) compared to MSFD (18.10%). In terms of maximum drawdown, MSFD dropped -59.90% vs TSLL's -82.88%.
On 3-year performance, MSFD leads with -10.70% vs -20.90% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, MSFD has been the lower-risk option at 18.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MSFD has performed better with a -10.70% return vs -20.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLL is cheaper with a 0.83% expense ratio, compared with 1.06% for MSFD.
TSLL has the higher dividend yield at 13.48%, compared with 4.02% for MSFD.
MSFD is categorized as Inverse Equities, while TSLL is Leveraged Equities. Their fees differ too: 1.06% for MSFD and 0.83% for TSLL.
MSFD currently has the higher Sharpe Ratio (0.30 vs -0.30), 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.
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