TSDD vs. CARZ

Last updated Jun 26, 2026

TSDD (GraniteShares 2x Short TSLA Daily ETF) and CARZ (First Trust NASDAQ Global Auto Index Fund) are both exchange-traded funds - TSDD is a Inverse Equities fund actively managed by GraniteShares, while CARZ is a Consumer Discretionary Equities fund tracking the NASDAQ OMX Global Automobile (TR). TSDD is actively managed, while CARZ is passively managed. Over the past year, TSDD returned -54.15% vs 92.92% for CARZ. At a correlation of -0.59, they often move in opposite directions. TSDD charges 1.50%/yr vs 0.70%/yr for CARZ.

Performance

TSDD vs. CARZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short TSLA Daily ETF (TSDD) and First Trust NASDAQ Global Auto Index Fund (CARZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSDD achieves a 16.69% return, which is significantly lower than CARZ's 47.38% return.

TSDD

• 1D: 0.17%
• 1M: 26.86%
• YTD: 16.69%
• 6M: 35.71%
• 1Y: -54.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CARZ

• 1D: 1.80%
• 1M: -3.61%
• YTD: 47.38%
• 6M: 45.80%
• 1Y: 92.92%
• 3Y*: 30.86%
• 5Y*: 15.13%
• 10Y*: 16.83%

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

TSDD vs. CARZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSDD GraniteShares 2x Short TSLA Daily ETF	16.69%	-74.84%	-89.21%	-20.49%
CARZ First Trust NASDAQ Global Auto Index Fund	47.38%	37.18%	3.26%	8.35%

Correlation

The correlation between TSDD and CARZ is -0.60, 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	-0.60
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	-0.59

The correlation between TSDD and CARZ has been stable across timeframes, ranging from -0.60 to -0.59 - a consistent structural relationship.

TSDD vs. CARZ - Sectors Allocation Comparison

Sectors	TSDD	CARZ
Consumer Cyclical	200.1%	21.5%
Basic Materials	-	6.5%
Communication Services	-	1.9%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	7.5%
Real Estate	-	-
Technology	-	34.6%
Utilities	-	-

Return for Risk

TSDD vs. CARZ — Risk / Return Rank

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

TSDD

TSDD Risk / Return Rank: 5
TSDD Sharpe Ratio Rank: 5
TSDD Sortino Ratio Rank: 5
TSDD Omega Ratio Rank: 5
TSDD Calmar Ratio Rank: 3
TSDD Martin Ratio Rank: 5

CARZ

CARZ Risk / Return Rank: 93
CARZ Sharpe Ratio Rank: 95
CARZ Sortino Ratio Rank: 90
CARZ Omega Ratio Rank: 91
CARZ Calmar Ratio Rank: 95
CARZ Martin Ratio Rank: 94

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.

TSDD vs. CARZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short TSLA Daily ETF (TSDD) and First Trust NASDAQ Global Auto Index Fund (CARZ). 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.

	TSDD	CARZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.62	3.19	-3.81
Sortino ratio: Return per unit of downside risk	-0.64	3.63	-4.27
Omega ratio: Gain probability vs. loss probability	0.93	1.52	-0.59
Calmar ratio: Return relative to maximum drawdown	-0.75	6.47	-7.22
Martin ratio: Return relative to average drawdown	-0.95	23.62	-24.58

TSDD vs. CARZ - Sharpe Ratio Comparison

The current TSDD Sharpe Ratio is -0.62, which is lower than the CARZ Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of TSDD and CARZ, 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

TSDD vs. CARZ - Drawdown Comparison

The maximum TSDD drawdown since its inception was -99.03%, which is greater than CARZ's maximum drawdown of -51.20%. Use the drawdown chart below to compare losses from any high point for TSDD and CARZ.

Drawdown Indicators

	TSDD	CARZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.03%	-51.20%	-47.83%
Max Drawdown (1Y) Largest decline over 1 year	-72.39%	-14.44%	-57.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-40.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.20%	—
Current Drawdown Current decline from peak	-98.66%	-6.78%	-91.88%
Average Drawdown Average peak-to-trough decline	-71.69%	-12.87%	-58.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.75%	3.95%	+52.80%

Volatility

TSDD vs. CARZ - Volatility Comparison

GraniteShares 2x Short TSLA Daily ETF (TSDD) has a higher volatility of 27.02% compared to First Trust NASDAQ Global Auto Index Fund (CARZ) at 15.52%. This indicates that TSDD's price experiences larger fluctuations and is considered to be riskier than CARZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSDD	CARZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.02%	15.52%	+11.50%
Volatility (6M) Calculated over the trailing 6-month period	56.73%	24.91%	+31.82%
Volatility (1Y) Calculated over the trailing 1-year period	87.65%	29.29%	+58.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	114.18%	28.82%	+85.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.18%	26.54%	+87.64%

TSDD vs. CARZ - Expense Ratio Comparison

TSDD has a 1.50% expense ratio, which is higher than CARZ's 0.70% expense ratio.

Dividends

TSDD vs. CARZ - Dividend Comparison

TSDD's dividend yield for the trailing twelve months is around 7.22%, more than CARZ's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CARZ First Trust NASDAQ Global Auto Index Fund	1.45%	2.13%	1.17%	1.40%	1.59%	2.25%	0.63%	3.23%	2.85%	2.11%	2.47%	1.64%
TSDD GraniteShares 2x Short TSLA Daily ETF	7.22%	8.42%	0.00%	24.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSDD and CARZ in my portfolio?

TSDD and CARZ have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSDD or CARZ?

TSDD has higher volatility (27.02%) compared to CARZ (15.52%). In terms of maximum drawdown, TSDD dropped -99.03% vs CARZ's -51.20%.

Which ETF is better, TSDD or CARZ?

On 1-year performance, CARZ leads with 92.92% vs -54.15% for TSDD. On fees, CARZ is cheaper at 0.70% per year. On volatility, CARZ has been the lower-risk option at 15.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSDD or CARZ?

Over the 1-year period, CARZ has performed better with a 92.92% return vs -54.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSDD or CARZ?

CARZ is cheaper with a 0.70% expense ratio, compared with 1.50% for TSDD.

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

TSDD has the higher dividend yield at 7.22%, compared with 1.45% for CARZ.

What is the main difference between TSDD and CARZ?

TSDD is categorized as Inverse Equities, while CARZ is Consumer Discretionary Equities. They also come from different issuers: GraniteShares and First Trust. Their fees differ too: 1.50% for TSDD and 0.70% for CARZ.

Which has better risk-adjusted returns?

CARZ currently has the higher Sharpe Ratio (3.19 vs -0.62), 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.