TSDD vs. MSFL

Last updated Jul 15, 2026

TSDD (GraniteShares 2x Short TSLA Daily ETF) and MSFL (GraniteShares 2x Long MSFT Daily ETF) are both exchange-traded funds - TSDD is a Inverse Equities fund actively managed by GraniteShares, while MSFL is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, TSDD returned -62.72% vs -49.23% for MSFL. At a correlation of -0.33, they often move in opposite directions. TSDD charges 0.95%/yr vs 1.15%/yr for MSFL.

Performance

TSDD vs. MSFL - Performance Comparison

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

Returns By Period

In the year-to-date period, TSDD achieves a -2.07% return, which is significantly higher than MSFL's -42.70% return.

TSDD

• 1D: -0.79%
• 1M: -2.57%
• 6M: -2.07%
• YTD: -2.07%
• 1Y: -62.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSFL

• 1D: -3.23%
• 1M: -4.77%
• 6M: -39.31%
• YTD: -42.70%
• 1Y: -49.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSDD vs. MSFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSDD GraniteShares 2x Short TSLA Daily ETF	-2.07%	-74.84%	-94.31%
MSFL GraniteShares 2x Long MSFT Daily ETF	-42.70%	16.99%	-8.21%

Correlation

The correlation between TSDD and MSFL is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024	-0.33

The correlation between TSDD and MSFL shifts across timeframes, from -0.33 (all time) to -0.19 (1 year), reflecting how their relationship changes across market environments.

TSDD vs. MSFL - Sectors Allocation Comparison

Sectors	TSDD	MSFL
Consumer Cyclical	200.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	66.7%
Utilities	-	-

Return for Risk

TSDD vs. MSFL — 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: 4
TSDD Sortino Ratio Rank: 4
TSDD Omega Ratio Rank: 4
TSDD Calmar Ratio Rank: 1
TSDD Martin Ratio Rank: 4

MSFL

MSFL Risk / Return Rank: 2
MSFL Sharpe Ratio Rank: 2
MSFL Sortino Ratio Rank: 3
MSFL Omega Ratio Rank: 2
MSFL Calmar Ratio Rank: 3
MSFL Martin Ratio Rank: 2

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. MSFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short TSLA Daily ETF (TSDD) and GraniteShares 2x Long MSFT Daily ETF (MSFL). 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	MSFL	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	-0.91	+0.21
Sortino ratio: Return per unit of downside risk	-0.90	-1.28	+0.38
Omega ratio: Gain probability vs. loss probability	0.90	0.84	+0.06
Calmar ratio: Return relative to maximum drawdown	-0.90	-0.80	-0.11
Martin ratio: Return relative to average drawdown	-1.15	-1.39	+0.25

TSDD vs. MSFL - Sharpe Ratio Comparison

The current TSDD Sharpe Ratio is -0.70, which is comparable to the MSFL Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of TSDD and MSFL, 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. MSFL - Drawdown Comparison

The maximum TSDD drawdown since its inception was -99.03%, which is greater than MSFL's maximum drawdown of -62.08%. Use the drawdown chart below to compare losses from any high point for TSDD and MSFL.

Drawdown Indicators

	TSDD	MSFL	Difference
Max Drawdown Largest peak-to-trough decline	-99.03%	-62.08%	-36.95%
Max Drawdown (1Y) Largest decline over 1 year	-69.48%	-62.08%	-7.40%
Current Drawdown Current decline from peak	-98.88%	-55.35%	-43.53%
Average Drawdown Average peak-to-trough decline	-72.14%	-23.06%	-49.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	54.77%	35.42%	+19.35%

Volatility

TSDD vs. MSFL - Volatility Comparison

GraniteShares 2x Short TSLA Daily ETF (TSDD) has a higher volatility of 34.42% compared to GraniteShares 2x Long MSFT Daily ETF (MSFL) at 20.73%. This indicates that TSDD's price experiences larger fluctuations and is considered to be riskier than MSFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSDD	MSFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.42%	20.73%	+13.69%
Volatility (6M) Calculated over the trailing 6-month period	62.90%	48.93%	+13.97%
Volatility (1Y) Calculated over the trailing 1-year period	89.44%	54.14%	+35.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	114.59%	50.53%	+64.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.59%	50.53%	+64.06%

TSDD vs. MSFL - Expense Ratio Comparison

TSDD has a 0.95% expense ratio, which is lower than MSFL's 1.15% expense ratio.

Dividends

TSDD vs. MSFL - Dividend Comparison

TSDD's dividend yield for the trailing twelve months is around 8.60%, while MSFL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
MSFL GraniteShares 2x Long MSFT Daily ETF	0.00%	0.00%	0.00%	0.00%
TSDD GraniteShares 2x Short TSLA Daily ETF	8.60%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both TSDD and MSFL in my portfolio?

TSDD and MSFL have a correlation of -0.19, 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 MSFL?

TSDD has higher volatility (34.42%) compared to MSFL (20.73%). In terms of maximum drawdown, TSDD dropped -99.03% vs MSFL's -62.08%.

Which ETF is better, TSDD or MSFL?

On 1-year performance, MSFL leads with -49.23% vs -62.72% for TSDD. On fees, TSDD is cheaper at 0.95% per year. On volatility, MSFL has been the lower-risk option at 20.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSDD or MSFL?

Over the 1-year period, MSFL has performed better with a -49.23% return vs -62.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSDD or MSFL?

TSDD is cheaper with a 0.95% expense ratio, compared with 1.15% for MSFL.

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

TSDD has the higher dividend yield at 8.60%, compared with 0.00% for MSFL.

What is the main difference between TSDD and MSFL?

TSDD is categorized as Inverse Equities, while MSFL is Leveraged Equities. Their fees differ too: 0.95% for TSDD and 1.15% for MSFL.

Which has better risk-adjusted returns?

TSDD currently has the higher Sharpe Ratio (-0.70 vs -0.91), 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.