OILD vs. TSLS
OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and TSLS (Direxion Daily TSLA Bear 1X Shares) are both Inverse Equities funds - OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%) while TSLS tracks the Tesla Inc (--100%). Both are passively managed. Over the past 3 years, OILD returned -44.47%/yr vs -31.09%/yr for TSLS. At a 0.10 correlation, their price movements are largely independent. OILD charges 0.95%/yr vs 1.07%/yr for TSLS.
Performance
OILD vs. TSLS - Performance Comparison
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Returns By Period
In the year-to-date period, OILD achieves a -57.86% return, which is significantly lower than TSLS's 7.60% return.
OILD
- 1D
- 2.48%
- 1M
- -7.04%
- 6M
- -47.85%
- YTD
- -57.86%
- 1Y
- -65.56%
- 3Y*
- -44.47%
- 5Y*
- —
- 10Y*
- —
TSLS
- 1D
- 0.48%
- 1M
- 2.23%
- 6M
- 5.12%
- YTD
- 7.60%
- 1Y
- -30.06%
- 3Y*
- -31.09%
- 5Y*
- —
- 10Y*
- —
OILD vs. TSLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -57.86% | -41.67% | -14.58% | -19.58% | -53.92% |
TSLS Direxion Daily TSLA Bear 1X Shares | 7.60% | -34.95% | -55.71% | -60.12% | 105.60% |
Correlation
The correlation between OILD and TSLS is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.10 |
The correlation between OILD and TSLS shifts across timeframes, from -0.10 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OILD vs. TSLS — Risk / Return Rank
OILD
TSLS
OILD vs. TSLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) and Direxion Daily TSLA Bear 1X Shares (TSLS). 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.
| OILD | TSLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.91 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.73 | -0.15 |
| Martin ratioReturn relative to average drawdown | -1.39 | -1.03 | -0.36 |
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Drawdowns
OILD vs. TSLS - Drawdown Comparison
The maximum OILD drawdown since its inception was -98.90%, which is greater than TSLS's maximum drawdown of -90.73%. Use the drawdown chart below to compare losses from any high point for OILD and TSLS.
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Drawdown Indicators
| OILD | TSLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.90% | -90.73% | -8.17% |
Max Drawdown (1Y)Largest decline over 1 year | -74.53% | -41.36% | -33.17% |
Max Drawdown (3Y)Largest decline over 3 years | -86.29% | -84.16% | -2.13% |
Current DrawdownCurrent decline from peak | -98.63% | -89.15% | -9.48% |
Average DrawdownAverage peak-to-trough decline | -88.80% | -64.16% | -24.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.08% | 29.17% | +17.91% |
Volatility
OILD vs. TSLS - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 22.10% compared to Direxion Daily TSLA Bear 1X Shares (TSLS) at 17.09%. This indicates that OILD's price experiences larger fluctuations and is considered to be riskier than TSLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILD | TSLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.10% | 17.09% | +5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 50.10% | 31.45% | +18.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.18% | 45.17% | +18.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.25% | 58.75% | +20.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.25% | 58.75% | +20.50% |
OILD vs. TSLS - Expense Ratio Comparison
OILD has a 0.95% expense ratio, which is lower than TSLS's 1.07% expense ratio.
Dividends
OILD vs. TSLS - Dividend Comparison
OILD has not paid dividends to shareholders, while TSLS's dividend yield for the trailing twelve months is around 2.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TSLS Direxion Daily TSLA Bear 1X Shares | 2.92% | 4.30% | 7.62% | 4.52% | 3.46% |
Frequently Asked Questions
OILD and TSLS have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (22.10%) compared to TSLS (17.09%). In terms of maximum drawdown, OILD dropped -98.90% vs TSLS's -90.73%.
On 3-year performance, TSLS leads with -31.09% vs -44.47% for OILD. On fees, OILD is cheaper at 0.95% per year. On volatility, TSLS has been the lower-risk option at 17.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLS has performed better with a -31.09% return vs -44.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILD is cheaper with a 0.95% expense ratio, compared with 1.07% for TSLS.
TSLS has the higher dividend yield at 2.92%, compared with 0.00% for OILD.
OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while TSLS tracks Tesla Inc (--100%). They also come from different issuers: REX and Direxion. Their fees differ too: 0.95% for OILD and 1.07% for TSLS.
TSLS currently has the higher Sharpe Ratio (-0.67 vs -1.04), 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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