TSDD vs. ELIS

Last updated Jun 5, 2026

TSDD (GraniteShares 2x Short TSLA Daily ETF) and ELIS (Direxion Daily LLY Bear 1X Shares) are both Inverse Equities funds. Both are actively managed. At a 0.16 correlation, their price movements are largely independent. TSDD charges 1.50%/yr vs 0.97%/yr for ELIS.

Performance

TSDD vs. ELIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short TSLA Daily ETF (TSDD) and Direxion Daily LLY Bear 1X Shares (ELIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TSDD

• 1D: 2.57%
• 1M: -16.78%
• YTD: -1.81%
• 6M: -2.21%
• 1Y: -64.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ELIS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSDD vs. ELIS - Yearly Performance Comparison

	2026 (YTD)	2025
TSDD GraniteShares 2x Short TSLA Daily ETF	-1.81%	-83.89%
ELIS Direxion Daily LLY Bear 1X Shares	11.37%	-29.46%

Correlation

The correlation between TSDD and ELIS is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.16

TSDD vs. ELIS - Sectors Allocation Comparison

Sectors	TSDD	ELIS
Consumer Cyclical	200.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TSDD vs. ELIS — Risk / Return Rank

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

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: 2
TSDD Martin Ratio Rank: 4

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. ELIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short TSLA Daily ETF (TSDD) and Direxion Daily LLY Bear 1X Shares (ELIS). 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.

	TSDD	ELIS	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	—	—
Sortino ratio: Return per unit of downside risk	-0.94	—	—
Omega ratio: Gain probability vs. loss probability	0.90	—	—
Calmar ratio: Return relative to maximum drawdown	-0.85	—	—
Martin ratio: Return relative to average drawdown	-1.07	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TSDD	ELIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.66	—	—

Drawdowns

Drawdown Indicators

	TSDD	ELIS	Difference
Max Drawdown Largest peak-to-trough decline	-99.03%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-76.12%	—	—
Current Drawdown Current decline from peak	-98.88%	—	—
Average Drawdown Average peak-to-trough decline	-71.25%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	60.05%	—	—

Volatility

Volatility by Period

	TSDD	ELIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.30%	—	—
Volatility (6M) Calculated over the trailing 6-month period	54.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	92.61%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	114.39%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.39%	—	—

TSDD vs. ELIS - Expense Ratio Comparison

TSDD has a 1.50% expense ratio, which is higher than ELIS's 0.97% expense ratio.

Dividends

TSDD vs. ELIS - Dividend Comparison

TSDD's dividend yield for the trailing twelve months is around 8.58%, more than ELIS's 5.26% yield.

Position	TTM	2025	2024	2023
ELIS Direxion Daily LLY Bear 1X Shares	5.26%	5.86%	0.00%	0.00%
TSDD GraniteShares 2x Short TSLA Daily ETF	8.58%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both TSDD and ELIS in my portfolio?

TSDD and ELIS have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSDD or ELIS?

On fees, ELIS is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSDD or ELIS?

ELIS is cheaper with a 0.97% expense ratio, compared with 1.50% for TSDD.

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

TSDD has the higher dividend yield at 8.58%, compared with 5.26% for ELIS.

What is the main difference between TSDD and ELIS?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for TSDD and 0.97% for ELIS.