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 -48.14%/yr vs -38.33%/yr for TSLS. At a 0.11 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 -61.30% return, which is significantly lower than TSLS's 3.13% return.
OILD
- 1D
- -3.52%
- 1M
- 4.33%
- YTD
- -61.30%
- 6M
- -58.58%
- 1Y
- -72.54%
- 3Y*
- -48.14%
- 5Y*
- —
- 10Y*
- —
TSLS
- 1D
- 0.10%
- 1M
- -8.14%
- YTD
- 3.13%
- 6M
- 2.01%
- 1Y
- -28.79%
- 3Y*
- -38.33%
- 5Y*
- —
- 10Y*
- —
OILD vs. TSLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -61.30% | -41.67% | -14.58% | -19.58% | -51.19% |
TSLS Direxion Daily TSLA Bear 1X Shares | 3.13% | -34.95% | -55.71% | -60.12% | 100.52% |
Correlation
The correlation between OILD and TSLS is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | 0.11 |
The correlation between OILD and TSLS shifts across timeframes, from -0.02 (1 year) to 0.11 (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.
| OILD | TSLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 0.92 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -0.62 | -0.32 |
| Martin ratioReturn relative to average drawdown | -1.56 | -0.88 | -0.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OILD | TSLS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.19 | -0.62 | -0.57 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.75 | -0.54 | -0.22 |
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 | -77.40% | -46.42% | -30.98% |
Max Drawdown (3Y)Largest decline over 3 years | -88.53% | -84.16% | -4.37% |
Current DrawdownCurrent decline from peak | -98.74% | -89.60% | -9.14% |
Average DrawdownAverage peak-to-trough decline | -88.64% | -63.49% | -25.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.59% | 32.85% | +13.74% |
Volatility
OILD vs. TSLS - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 24.24% compared to Direxion Daily TSLA Bear 1X Shares (TSLS) at 12.06%. 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 | 24.24% | 12.06% | +12.18% |
Volatility (6M)Calculated over the trailing 6-month period | 48.55% | 27.72% | +20.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.12% | 46.68% | +14.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.39% | 58.76% | +20.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.39% | 58.76% | +20.63% |
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 3.39%.
| 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 | 3.39% | 4.30% | 7.62% | 4.52% | 3.46% |
Frequently Asked Questions
OILD and TSLS have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (24.24%) compared to TSLS (12.06%). In terms of maximum drawdown, OILD dropped -98.90% vs TSLS's -90.73%.
On 3-year performance, TSLS leads with -38.33% vs -48.14% for OILD. On fees, OILD is cheaper at 0.95% per year. On volatility, TSLS has been the lower-risk option at 12.06%. 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 -38.33% return vs -48.14%. 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 3.39%, 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 (-0.62 vs -1.19), 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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