OILD vs. TSLS
OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and TSLS (Direxion Daily TSLA Bear 1X ETF) are both Inverse Equities funds - OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%) while TSLS tracks the Tesla, Inc. (-100% Daily). Both are passively managed. Over the past 3 years, OILD returned -42.92%/yr vs -29.44%/yr for TSLS. Their 0.09 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
OILD vs. TSLS - Performance Comparison
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Returns By Period
In the year-to-date period, OILD achieves a -62.98% return, which is significantly lower than TSLS's 26.49% return.
OILD
- 1D
- 1.27%
- 1M
- -27.98%
- 6M
- -43.08%
- YTD
- -62.98%
- 1Y
- -70.97%
- 3Y*
- -42.92%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -58.87%
TSLS
- 1D
- -1.71%
- 1M
- 16.39%
- 6M
- 19.20%
- YTD
- 26.49%
- 1Y
- -17.47%
- 3Y*
- -29.44%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -26.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.68M | $2.54M | $3.73M | |
| $28.02M | $26.25M | $30.64M |
OILD vs. TSLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -62.98% | -41.67% | -14.58% | -19.58% | -53.92% |
TSLS Direxion Daily TSLA Bear 1X ETF | 26.49% | -34.95% | -55.71% | -60.12% | 105.60% |
Correlation
The correlation between OILD and TSLS is -0.12, 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. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.09 |
The correlation between OILD and TSLS shifts across timeframes, from -0.12 (1 year) to 0.09 (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 ETF (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 | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.97 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.44 | -0.52 |
| Martin ratioReturn relative to average drawdown | -1.42 | -0.62 | -0.80 |
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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% | -40.10% | -34.43% |
Max Drawdown (3Y)Largest decline over 3 years | -85.42% | -84.16% | -1.26% |
Current DrawdownCurrent decline from peak | -98.80% | -87.25% | -11.55% |
Average DrawdownAverage peak-to-trough decline | -88.92% | -64.48% | -24.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.00% | 28.16% | +21.84% |
Volatility
OILD vs. TSLS - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 20.27% compared to Direxion Daily TSLA Bear 1X ETF (TSLS) at 16.85%. 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 | 20.27% | 16.85% | +3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 50.12% | 34.00% | +16.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.36% | 46.80% | +16.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.04% | 58.95% | +20.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.04% | 58.95% | +20.09% |
OILD vs. TSLS - Expense Ratio Comparison
Both OILD and TSLS have an expense ratio of 0.95%.
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 2.48%.
| 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 ETF | 2.48% | 4.30% | 7.62% | 4.52% | 3.46% |
Frequently Asked Questions
OILD and TSLS have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (20.27%) compared to TSLS (16.85%). In terms of maximum drawdown, OILD dropped -98.90% vs TSLS's -90.73%.
On 3-year performance, TSLS leads with -29.44% vs -42.92% for OILD. Both ETFs have the same 0.95% expense ratio. On volatility, TSLS has been the lower-risk option at 16.85%. 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 -29.44% return vs -42.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILD and TSLS have the same expense ratio: 0.95% per year.
TSLS has the higher dividend yield at 2.48%, compared with 0.00% for OILD.
OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while TSLS tracks Tesla, Inc. (-100% Daily). They also come from different issuers: REX and Direxion.
TSLS currently has the higher Sharpe Ratio (-0.38 vs -1.12), 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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