QCML vs. TSDD

Last updated Jul 12, 2026

QCML (GraniteShares 2x Long QCOM Daily ETF) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both exchange-traded funds - QCML is a Leveraged Equities fund tracking the Qualcomm Inc. (QCOM), while TSDD is a Inverse Equities fund actively managed by GraniteShares. QCML is passively managed, while TSDD is actively managed. Over the past year, QCML returned 5.77% vs -65.45% for TSDD. At a correlation of -0.45, they often move in opposite directions. QCML charges 1.50%/yr vs 0.95%/yr for TSDD.

Performance

QCML vs. TSDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long QCOM Daily ETF (QCML) and GraniteShares 2x Short TSLA Daily ETF (TSDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCML achieves a -3.62% return, which is significantly higher than TSDD's -7.24% return.

QCML

• 1D: -2.33%
• 1M: -23.29%
• 6M: -10.47%
• YTD: -3.62%
• 1Y: 5.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSDD

• 1D: -0.69%
• 1M: -7.72%
• 6M: -8.08%
• YTD: -7.24%
• 1Y: -65.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCML vs. TSDD - Yearly Performance Comparison

	2026 (YTD)	2025
QCML GraniteShares 2x Long QCOM Daily ETF	-3.62%	-16.71%
TSDD GraniteShares 2x Short TSLA Daily ETF	-7.24%	-80.78%

Correlation

The correlation between QCML and TSDD is -0.42, 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	-0.42
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.45

QCML vs. TSDD - Sectors Allocation Comparison

Sectors	QCML	TSDD
Technology	66.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	200.0%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

QCML vs. TSDD — Risk / Return Rank

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

QCML

QCML Risk / Return Rank: 14
QCML Sharpe Ratio Rank: 10
QCML Sortino Ratio Rank: 19
QCML Omega Ratio Rank: 20
QCML Calmar Ratio Rank: 10
QCML Martin Ratio Rank: 10

TSDD

TSDD Risk / Return Rank: 3
TSDD Sharpe Ratio Rank: 3
TSDD Sortino Ratio Rank: 3
TSDD Omega Ratio Rank: 4
TSDD Calmar Ratio Rank: 1
TSDD Martin Ratio Rank: 3

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.

QCML vs. TSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long QCOM Daily ETF (QCML) and GraniteShares 2x Short TSLA Daily ETF (TSDD). 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.

	QCML	TSDD	Difference
Sharpe ratio: Return per unit of total volatility	0.04	-0.74	+0.78
Sortino ratio: Return per unit of downside risk	0.84	-1.05	+1.89
Omega ratio: Gain probability vs. loss probability	1.11	0.88	+0.23
Calmar ratio: Return relative to maximum drawdown	0.07	-0.96	+1.02
Martin ratio: Return relative to average drawdown	0.13	-1.22	+1.35

QCML vs. TSDD - Sharpe Ratio Comparison

The current QCML Sharpe Ratio is 0.04, which is higher than the TSDD Sharpe Ratio of -0.74. The chart below compares the historical Sharpe Ratios of QCML and TSDD, 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

QCML vs. TSDD - Drawdown Comparison

The maximum QCML drawdown since its inception was -59.13%, smaller than the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for QCML and TSDD.

Drawdown Indicators

	QCML	TSDD	Difference
Max Drawdown Largest peak-to-trough decline	-59.13%	-99.03%	+39.90%
Max Drawdown (1Y) Largest decline over 1 year	-58.72%	-69.48%	+10.76%
Current Drawdown Current decline from peak	-47.72%	-98.94%	+51.22%
Average Drawdown Average peak-to-trough decline	-29.60%	-72.07%	+42.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.51%	54.47%	-23.96%

Volatility

QCML vs. TSDD - Volatility Comparison

GraniteShares 2x Long QCOM Daily ETF (QCML) has a higher volatility of 41.35% compared to GraniteShares 2x Short TSLA Daily ETF (TSDD) at 35.87%. This indicates that QCML's price experiences larger fluctuations and is considered to be riskier than TSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCML	TSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.35%	35.87%	+5.48%
Volatility (6M) Calculated over the trailing 6-month period	91.73%	62.76%	+28.97%
Volatility (1Y) Calculated over the trailing 1-year period	103.59%	89.68%	+13.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	100.33%	114.68%	-14.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	100.33%	114.68%	-14.35%

QCML vs. TSDD - Expense Ratio Comparison

QCML has a 1.50% expense ratio, which is higher than TSDD's 0.95% expense ratio.

Dividends

QCML vs. TSDD - Dividend Comparison

QCML has not paid dividends to shareholders, while TSDD's dividend yield for the trailing twelve months is around 9.08%.

Position	TTM	2025	2024	2023
QCML GraniteShares 2x Long QCOM Daily ETF	0.00%	0.00%	0.00%	0.00%
TSDD GraniteShares 2x Short TSLA Daily ETF	9.08%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both QCML and TSDD in my portfolio?

QCML and TSDD have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QCML or TSDD?

QCML has higher volatility (41.35%) compared to TSDD (35.87%). In terms of maximum drawdown, QCML dropped -59.13% vs TSDD's -99.03%.

Which ETF is better, QCML or TSDD?

On 1-year performance, QCML leads with 5.77% vs -65.45% for TSDD. On fees, TSDD is cheaper at 0.95% per year. On volatility, TSDD has been the lower-risk option at 35.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QCML or TSDD?

Over the 1-year period, QCML has performed better with a 5.77% return vs -65.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCML or TSDD?

TSDD is cheaper with a 0.95% expense ratio, compared with 1.50% for QCML.

Which ETF pays a higher dividend yield, QCML or TSDD?

TSDD has the higher dividend yield at 9.08%, compared with 0.00% for QCML.

What is the main difference between QCML and TSDD?

QCML is categorized as Leveraged Equities, while TSDD is Inverse Equities. Their fees differ too: 1.50% for QCML and 0.95% for TSDD.

Which has better risk-adjusted returns?

QCML currently has the higher Sharpe Ratio (0.04 vs -0.74), 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.