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 -44.01%/yr vs -33.16%/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 -51.09% return, which is significantly lower than TSLS's 15.15% return.
OILD
- 1D
- -2.73%
- 1M
- 20.25%
- YTD
- -51.09%
- 6M
- -52.16%
- 1Y
- -62.90%
- 3Y*
- -44.01%
- 5Y*
- —
- 10Y*
- —
TSLS
- 1D
- 0.12%
- 1M
- 14.16%
- YTD
- 15.15%
- 6M
- 24.21%
- 1Y
- -21.70%
- 3Y*
- -33.16%
- 5Y*
- —
- 10Y*
- —
OILD vs. TSLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -51.09% | -41.67% | -14.58% | -19.58% | -53.92% |
TSLS Direxion Daily TSLA Bear 1X Shares | 15.15% | -34.95% | -55.71% | -60.12% | 105.60% |
Correlation
The correlation between OILD and TSLS is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.11 |
The correlation between OILD and TSLS shifts across timeframes, from -0.03 (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.
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 | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -1.33 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.95 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | -0.50 | -0.34 |
| Martin ratioReturn relative to average drawdown | -1.40 | -0.71 | -0.69 |
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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% | -43.46% | -31.07% |
Max Drawdown (3Y)Largest decline over 3 years | -87.76% | -84.16% | -3.60% |
Current DrawdownCurrent decline from peak | -98.41% | -88.39% | -10.02% |
Average DrawdownAverage peak-to-trough decline | -88.69% | -63.82% | -24.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.80% | 30.53% | +14.27% |
Volatility
OILD vs. TSLS - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 21.07% compared to Direxion Daily TSLA Bear 1X Shares (TSLS) at 13.65%. 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 | 21.07% | 13.65% | +7.42% |
Volatility (6M)Calculated over the trailing 6-month period | 49.80% | 28.46% | +21.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.31% | 44.24% | +18.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.36% | 58.65% | +20.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.36% | 58.65% | +20.71% |
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 2.73%.
| 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 | 2.73% | 4.30% | 7.62% | 4.52% | 3.46% |
Frequently Asked Questions
OILD and TSLS have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (21.07%) compared to TSLS (13.65%). In terms of maximum drawdown, OILD dropped -98.90% vs TSLS's -90.73%.
On 3-year performance, TSLS leads with -33.16% vs -44.01% for OILD. On fees, OILD is cheaper at 0.95% per year. On volatility, TSLS has been the lower-risk option at 13.65%. 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 -33.16% return vs -44.01%. 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 2.73%, 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 (-0.49 vs -1.01), 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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