MSFL vs. TSDD

Last updated Jun 26, 2026

MSFL (GraniteShares 2x Long MSFT Daily ETF) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both exchange-traded funds - MSFL is a Leveraged Equities fund actively managed by GraniteShares, while TSDD is a Inverse Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, MSFL returned -55.20% vs -54.15% for TSDD. At a correlation of -0.34, they often move in opposite directions. MSFL charges 1.15%/yr vs 1.50%/yr for TSDD.

Performance

MSFL vs. TSDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MSFT Daily ETF (MSFL) 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, MSFL achieves a -51.34% return, which is significantly lower than TSDD's 16.69% return.

MSFL

• 1D: -7.03%
• 1M: -29.70%
• YTD: -51.34%
• 6M: -52.32%
• 1Y: -55.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSDD

• 1D: 0.17%
• 1M: 26.86%
• YTD: 16.69%
• 6M: 35.71%
• 1Y: -54.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFL vs. TSDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFL GraniteShares 2x Long MSFT Daily ETF	-51.34%	16.99%	-8.21%
TSDD GraniteShares 2x Short TSLA Daily ETF	16.69%	-74.84%	-94.31%

Correlation

The correlation between MSFL and TSDD is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	-0.34

The correlation between MSFL and TSDD shifts across timeframes, from -0.34 (all time) to -0.21 (1 year), reflecting how their relationship changes across market environments.

MSFL vs. TSDD - Sectors Allocation Comparison

Sectors	MSFL	TSDD
Technology	66.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	200.1%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MSFL vs. TSDD — Risk / Return Rank

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

MSFL

MSFL Risk / Return Rank: 1
MSFL Sharpe Ratio Rank: 1
MSFL Sortino Ratio Rank: 1
MSFL Omega Ratio Rank: 1
MSFL Calmar Ratio Rank: 1
MSFL Martin Ratio Rank: 1

TSDD

TSDD Risk / Return Rank: 5
TSDD Sharpe Ratio Rank: 5
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.

MSFL vs. TSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSFT Daily ETF (MSFL) 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.

	MSFL	TSDD	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	-0.62	-0.43
Sortino ratio: Return per unit of downside risk	-1.61	-0.64	-0.97
Omega ratio: Gain probability vs. loss probability	0.80	0.93	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.89	-0.75	-0.14
Martin ratio: Return relative to average drawdown	-1.66	-0.95	-0.71

MSFL vs. TSDD - Sharpe Ratio Comparison

The current MSFL Sharpe Ratio is -1.06, which is lower than the TSDD Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of MSFL 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

MSFL vs. TSDD - Drawdown Comparison

The maximum MSFL drawdown since its inception was -62.08%, smaller than the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for MSFL and TSDD.

Drawdown Indicators

	MSFL	TSDD	Difference
Max Drawdown Largest peak-to-trough decline	-62.08%	-99.03%	+36.95%
Max Drawdown (1Y) Largest decline over 1 year	-62.08%	-72.39%	+10.31%
Current Drawdown Current decline from peak	-62.08%	-98.66%	+36.58%
Average Drawdown Average peak-to-trough decline	-22.38%	-71.69%	+49.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.27%	56.75%	-23.48%

Volatility

MSFL vs. TSDD - Volatility Comparison

The current volatility for GraniteShares 2x Long MSFT Daily ETF (MSFL) is 23.64%, while GraniteShares 2x Short TSLA Daily ETF (TSDD) has a volatility of 27.02%. This indicates that MSFL experiences smaller price fluctuations and is considered to be less risky than TSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFL	TSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.64%	27.02%	-3.38%
Volatility (6M) Calculated over the trailing 6-month period	47.15%	56.73%	-9.58%
Volatility (1Y) Calculated over the trailing 1-year period	52.46%	87.65%	-35.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.17%	114.18%	-64.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.17%	114.18%	-64.01%

MSFL vs. TSDD - Expense Ratio Comparison

MSFL has a 1.15% expense ratio, which is lower than TSDD's 1.50% expense ratio.

Dividends

MSFL vs. TSDD - Dividend Comparison

MSFL has not paid dividends to shareholders, while TSDD's dividend yield for the trailing twelve months is around 7.22%.

Position	TTM	2025	2024	2023
MSFL GraniteShares 2x Long MSFT Daily ETF	0.00%	0.00%	0.00%	0.00%
TSDD GraniteShares 2x Short TSLA Daily ETF	7.22%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both MSFL and TSDD in my portfolio?

MSFL and TSDD have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFL or TSDD?

TSDD has higher volatility (27.02%) compared to MSFL (23.64%). In terms of maximum drawdown, MSFL dropped -62.08% vs TSDD's -99.03%.

Which ETF is better, MSFL or TSDD?

On 1-year performance, TSDD leads with -54.15% vs -55.20% for MSFL. On fees, MSFL is cheaper at 1.15% per year. On volatility, MSFL has been the lower-risk option at 23.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFL or TSDD?

Over the 1-year period, TSDD has performed better with a -54.15% return vs -55.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFL or TSDD?

MSFL is cheaper with a 1.15% expense ratio, compared with 1.50% for TSDD.

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

TSDD has the higher dividend yield at 7.22%, compared with 0.00% for MSFL.

What is the main difference between MSFL and TSDD?

MSFL is categorized as Leveraged Equities, while TSDD is Inverse Equities. Their fees differ too: 1.15% for MSFL and 1.50% for TSDD.

Which has better risk-adjusted returns?

TSDD currently has the higher Sharpe Ratio (-0.62 vs -1.06), 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.