TLA vs. ULTI

Last updated Jun 6, 2026

TLA (GraniteShares Autocallable TSLA ETF) and ULTI (REX IncomeMax Option Strategy ETF) are both Derivative Income funds. Both are actively managed. At a 0.47 correlation, their price movements are largely independent. TLA charges 1.07%/yr vs 1.25%/yr for ULTI.

Performance

TLA vs. ULTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Autocallable TSLA ETF (TLA) and REX IncomeMax Option Strategy ETF (ULTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TLA

• 1D: -1.25%
• 1M: 0.17%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ULTI

• 1D: -7.13%
• 1M: 3.97%
• YTD: 33.28%
• 6M: 10.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TLA vs. ULTI - Yearly Performance Comparison

	2026 (YTD)
TLA GraniteShares Autocallable TSLA ETF	3.78%
ULTI REX IncomeMax Option Strategy ETF	16.84%

Correlation

The correlation between TLA and ULTI is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026	0.47

Return for Risk

TLA vs. ULTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Autocallable TSLA ETF (TLA) and REX IncomeMax Option Strategy ETF (ULTI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TLA	ULTI	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	-0.45	+1.26

Drawdowns

TLA vs. ULTI - Drawdown Comparison

The maximum TLA drawdown since its inception was -5.44%, smaller than the maximum ULTI drawdown of -41.74%. Use the drawdown chart below to compare losses from any high point for TLA and ULTI.

Drawdown Indicators

	TLA	ULTI	Difference
Max Drawdown Largest peak-to-trough decline	-5.44%	-41.74%	+36.30%
Current Drawdown Current decline from peak	-1.79%	-17.78%	+15.99%
Average Drawdown Average peak-to-trough decline	-1.34%	-27.95%	+26.61%

Volatility

Volatility by Period

	TLA	ULTI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.42%	62.69%	-48.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.42%	62.69%	-48.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.42%	62.69%	-48.27%

TLA vs. ULTI - Expense Ratio Comparison

TLA has a 1.07% expense ratio, which is lower than ULTI's 1.25% expense ratio.

Dividends

TLA vs. ULTI - Dividend Comparison

TLA's dividend yield for the trailing twelve months is around 6.55%, less than ULTI's 47.92% yield.

Position	TTM	2025
TLA GraniteShares Autocallable TSLA ETF	6.55%	0.00%
ULTI REX IncomeMax Option Strategy ETF	47.92%	14.96%

Frequently Asked Questions

Can I hold both TLA and ULTI in my portfolio?

TLA and ULTI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TLA or ULTI?

On fees, TLA is cheaper at 1.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TLA or ULTI?

TLA is cheaper with a 1.07% expense ratio, compared with 1.25% for ULTI.

Which ETF pays a higher dividend yield, TLA or ULTI?

ULTI has the higher dividend yield at 47.92%, compared with 6.55% for TLA.

What is the main difference between TLA and ULTI?

They also come from different issuers: GraniteShares and REX Shares. Their fees differ too: 1.07% for TLA and 1.25% for ULTI.