NVDQ vs. TSLT

Last updated Jul 16, 2026

NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) and TSLT (T-Rex 2X Long Tesla Daily Target ETF) are both exchange-traded funds - NVDQ is a Inverse Equities fund actively managed by T-Rex, while TSLT is a Leveraged Equities fund tracking the Tesla, Inc. (200%). NVDQ is actively managed, while TSLT is passively managed. Over the past year, NVDQ returned -55.07% vs 13.24% for TSLT. At a correlation of -0.34, they often move in opposite directions. Both charge a 1.05% expense ratio.

Performance

NVDQ vs. TSLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) and T-Rex 2X Long Tesla Daily Target ETF (TSLT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDQ achieves a -38.39% return, which is significantly lower than TSLT's -35.94% return.

NVDQ

• 1D: -0.67%
• 1M: -3.36%
• 6M: -40.41%
• YTD: -38.39%
• 1Y: -55.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLT

• 1D: -1.04%
• 1M: -11.58%
• 6M: -32.26%
• YTD: -35.94%
• 1Y: 13.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDQ vs. TSLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	-38.39%	-74.63%	-93.80%	-28.84%
TSLT T-Rex 2X Long Tesla Daily Target ETF	-35.94%	-29.49%	54.17%	13.02%

Correlation

The correlation between NVDQ and TSLT is -0.40, 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	-0.40
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	-0.34

Return for Risk

NVDQ vs. TSLT — Risk / Return Rank

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

NVDQ

NVDQ Risk / Return Rank: 2
NVDQ Sharpe Ratio Rank: 3
NVDQ Sortino Ratio Rank: 3
NVDQ Omega Ratio Rank: 3
NVDQ Calmar Ratio Rank: 1
NVDQ Martin Ratio Rank: 0

TSLT

TSLT Risk / Return Rank: 14
TSLT Sharpe Ratio Rank: 12
TSLT Sortino Ratio Rank: 19
TSLT Omega Ratio Rank: 18
TSLT Calmar Ratio Rank: 12
TSLT Martin Ratio Rank: 12

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.

NVDQ vs. TSLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) and T-Rex 2X Long Tesla Daily Target ETF (TSLT). 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.

	NVDQ	TSLT	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	0.15	-0.93
Sortino ratio: Return per unit of downside risk	-1.05	0.85	-1.91
Omega ratio: Gain probability vs. loss probability	0.88	1.10	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.90	0.24	-1.14
Martin ratio: Return relative to average drawdown	-1.63	0.45	-2.09

NVDQ vs. TSLT - Sharpe Ratio Comparison

The current NVDQ Sharpe Ratio is -0.78, which is lower than the TSLT Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of NVDQ and TSLT, 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

NVDQ vs. TSLT - Drawdown Comparison

The maximum NVDQ drawdown since its inception was -99.45%, which is greater than TSLT's maximum drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for NVDQ and TSLT.

Drawdown Indicators

	NVDQ	TSLT	Difference
Max Drawdown Largest peak-to-trough decline	-99.45%	-83.16%	-16.29%
Max Drawdown (1Y) Largest decline over 1 year	-61.65%	-55.08%	-6.57%
Current Drawdown Current decline from peak	-99.38%	-68.89%	-30.49%
Average Drawdown Average peak-to-trough decline	-88.53%	-50.99%	-37.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.77%	29.17%	+4.60%

Volatility

NVDQ vs. TSLT - Volatility Comparison

The current volatility for T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) is 22.84%, while T-Rex 2X Long Tesla Daily Target ETF (TSLT) has a volatility of 33.73%. This indicates that NVDQ experiences smaller price fluctuations and is considered to be less risky than TSLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDQ	TSLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.84%	33.73%	-10.89%
Volatility (6M) Calculated over the trailing 6-month period	55.75%	62.19%	-6.44%
Volatility (1Y) Calculated over the trailing 1-year period	71.32%	89.15%	-17.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.97%	117.03%	-22.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.97%	117.03%	-22.06%

NVDQ vs. TSLT - Expense Ratio Comparison

Both NVDQ and TSLT have an expense ratio of 1.05%.

Dividends

NVDQ vs. TSLT - Dividend Comparison

NVDQ's dividend yield for the trailing twelve months is around 0.42%, while TSLT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	0.42%	0.26%	4.59%	11.60%
TSLT T-Rex 2X Long Tesla Daily Target ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVDQ and TSLT in my portfolio?

NVDQ and TSLT have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDQ or TSLT?

TSLT has higher volatility (33.73%) compared to NVDQ (22.84%). In terms of maximum drawdown, NVDQ dropped -99.45% vs TSLT's -83.16%.

Which ETF is better, NVDQ or TSLT?

On 1-year performance, TSLT leads with 13.24% vs -55.07% for NVDQ. Both ETFs have the same 1.05% expense ratio. On volatility, NVDQ has been the lower-risk option at 22.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDQ or TSLT?

Over the 1-year period, TSLT has performed better with a 13.24% return vs -55.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDQ or TSLT?

NVDQ and TSLT have the same expense ratio: 1.05% per year.

Which ETF pays a higher dividend yield, NVDQ or TSLT?

NVDQ has the higher dividend yield at 0.42%, compared with 0.00% for TSLT.

What is the main difference between NVDQ and TSLT?

NVDQ is categorized as Inverse Equities, while TSLT is Leveraged Equities.

Which has better risk-adjusted returns?

TSLT currently has the higher Sharpe Ratio (0.15 vs -0.78), 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.