RVNL vs. TSLR

Last updated Aug 2, 2026

RVNL (GraniteShares 2x Long RIVN Daily ETF) and TSLR (GraniteShares 2x Long TSLA Daily ETF) are both Leveraged Equities funds from GraniteShares. Both are actively managed. Over the past year, RVNL returned -18.13% vs -24.02% for TSLR. Their 0.38 correlation means their historical movements had little consistent relationship. RVNL charges 1.15%/yr vs 0.95%/yr for TSLR.

Performance

RVNL vs. TSLR - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with RVNL having a -59.36% return and TSLR slightly lower at -60.77%.

RVNL

• 1D: -19.28%
• 1M: -39.48%
• 6M: -25.62%
• YTD: -59.36%
• 1Y: -18.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -11.97%

TSLR

• 1D: 1.45%
• 1M: -40.45%
• 6M: -56.28%
• YTD: -60.77%
• 1Y: -24.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -21.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RVNL GraniteShares 2x Long RIVN Daily ETF	$2.76M	$4.10M	$2.75M
TSLR GraniteShares 2x Long TSLA Daily ETF	$20.25M	$21.25M	$40.88M

RVNL vs. TSLR - Yearly Performance Comparison

	2026 (YTD)	2025
RVNL GraniteShares 2x Long RIVN Daily ETF	-59.36%	109.17%
TSLR GraniteShares 2x Long TSLA Daily ETF	-60.77%	197.58%

Correlation

The correlation between RVNL and TSLR is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Apr 22, 2025	0.38

RVNL vs. TSLR - Sectors Allocation Comparison

Sectors	RVNL	TSLR
Consumer Cyclical	66.7%	66.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

RVNL vs. TSLR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RVNL

RVNL Risk / Return Rank: 13
RVNL Sharpe Ratio Rank: 9
RVNL Sortino Ratio Rank: 22
RVNL Omega Ratio Rank: 21
RVNL Calmar Ratio Rank: 7
RVNL Martin Ratio Rank: 7

TSLR

TSLR Risk / Return Rank: 8
TSLR Sharpe Ratio Rank: 7
TSLR Sortino Ratio Rank: 11
TSLR Omega Ratio Rank: 11
TSLR Calmar Ratio Rank: 6
TSLR Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RVNL vs. TSLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long RIVN Daily ETF (RVNL) and GraniteShares 2x Long TSLA Daily ETF (TSLR). 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.

	RVNL	TSLR	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	-0.29	+0.11
Sortino ratio: Return per unit of downside risk	0.77	0.19	+0.58
Omega ratio: Gain probability vs. loss probability	1.09	1.02	+0.07
Calmar ratio: Return relative to maximum drawdown	-0.34	-0.38	+0.04
Martin ratio: Return relative to average drawdown	-0.55	-0.86	+0.31

RVNL vs. TSLR - Sharpe Ratio Comparison

The current RVNL Sharpe Ratio is -0.18, which is higher than the TSLR Sharpe Ratio of -0.29. The chart below compares the historical Sharpe Ratios of RVNL and TSLR, 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

RVNL vs. TSLR - Drawdown Comparison

The maximum RVNL drawdown since its inception was -72.92%, smaller than the maximum TSLR drawdown of -82.80%. Use the drawdown chart below to compare losses from any high point for RVNL and TSLR.

Drawdown Indicators

	RVNL	TSLR	Difference
Max Drawdown Largest peak-to-trough decline	-72.92%	-82.80%	+9.88%
Max Drawdown (1Y) Largest decline over 1 year	-72.92%	-69.80%	-3.12%
Current Drawdown Current decline from peak	-68.83%	-79.93%	+11.10%
Average Drawdown Average peak-to-trough decline	-42.42%	-51.13%	+8.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.41%	31.27%	+14.14%

Volatility

RVNL vs. TSLR - Volatility Comparison

GraniteShares 2x Long RIVN Daily ETF (RVNL) has a higher volatility of 62.71% compared to GraniteShares 2x Long TSLA Daily ETF (TSLR) at 43.24%. This indicates that RVNL's price experiences larger fluctuations and is considered to be riskier than TSLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RVNL	TSLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	62.71%	43.24%	+19.47%
Volatility (6M) Calculated over the trailing 6-month period	107.27%	70.76%	+36.51%
Volatility (1Y) Calculated over the trailing 1-year period	141.47%	92.93%	+48.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	131.75%	116.23%	+15.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	131.75%	116.23%	+15.52%

RVNL vs. TSLR - Expense Ratio Comparison

RVNL has a 1.15% expense ratio, which is higher than TSLR's 0.95% expense ratio.

Dividends

RVNL vs. TSLR - Dividend Comparison

Neither RVNL nor TSLR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RVNL and TSLR in my portfolio?

RVNL and TSLR have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RVNL or TSLR?

RVNL has higher volatility (62.71%) compared to TSLR (43.24%). In terms of maximum drawdown, RVNL dropped -72.92% vs TSLR's -82.80%.

Which ETF is better, RVNL or TSLR?

On 1-year performance, RVNL leads with -18.13% vs -24.02% for TSLR. On fees, TSLR is cheaper at 0.95% per year. On volatility, TSLR has been the lower-risk option at 43.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RVNL or TSLR?

Over the 1-year period, RVNL has performed better with a -18.13% return vs -24.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RVNL or TSLR?

TSLR is cheaper with a 0.95% expense ratio, compared with 1.15% for RVNL.

Which ETF pays a higher dividend yield, RVNL or TSLR?

RVNL and TSLR have nearly identical dividend yields, around 0.00%.

What is the main difference between RVNL and TSLR?

Their fees differ too: 1.15% for RVNL and 0.95% for TSLR.

Which has better risk-adjusted returns?

RVNL currently has the higher Sharpe Ratio (-0.17 vs -0.29), 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.