TSDD vs. TSLZ

Last updated Jun 23, 2026

TSDD (GraniteShares 2x Short TSLA Daily ETF) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. Both are actively managed. Over the past year, TSDD returned -62.65% vs -63.91% for TSLZ. With a 1.00 correlation, they move nearly in lockstep. TSDD charges 1.50%/yr vs 1.05%/yr for TSLZ.

Performance

TSDD vs. TSLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short TSLA Daily ETF (TSDD) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSDD achieves a 1.03% return, which is significantly higher than TSLZ's -0.13% return.

TSDD

• 1D: -2.25%
• 1M: 5.83%
• YTD: 1.03%
• 6M: 19.15%
• 1Y: -62.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLZ

• 1D: -2.07%
• 1M: 6.09%
• YTD: -0.13%
• 6M: 17.45%
• 1Y: -63.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSDD vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSDD GraniteShares 2x Short TSLA Daily ETF	1.03%	-74.84%	-89.21%	-9.35%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	-0.13%	-75.98%	-88.79%	-24.75%

Correlation

The correlation between TSDD and TSLZ is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	1.00

The correlation between TSDD and TSLZ has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

TSDD vs. TSLZ — 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

TSLZ

TSLZ Risk / Return Rank: 3
TSLZ Sharpe Ratio Rank: 3
TSLZ Sortino Ratio Rank: 3
TSLZ Omega Ratio Rank: 3
TSLZ Calmar Ratio Rank: 1
TSLZ Martin Ratio Rank: 3

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. TSLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short TSLA Daily ETF (TSDD) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	-0.73	+0.02
Sortino ratio: Return per unit of downside risk	-0.92	-0.99	+0.08
Omega ratio: Gain probability vs. loss probability	0.90	0.89	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.88	+0.01
Martin ratio: Return relative to average drawdown	-1.11	-1.12	+0.01

TSDD vs. TSLZ - Sharpe Ratio Comparison

The current TSDD Sharpe Ratio is -0.71, which is comparable to the TSLZ Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of TSDD and TSLZ, 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. TSLZ - Drawdown Comparison

The maximum TSDD drawdown since its inception was -99.03%, roughly equal to the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for TSDD and TSLZ.

Drawdown Indicators

	TSDD	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.03%	-99.11%	+0.08%
Max Drawdown (1Y) Largest decline over 1 year	-72.39%	-72.88%	+0.49%
Current Drawdown Current decline from peak	-98.84%	-98.95%	+0.11%
Average Drawdown Average peak-to-trough decline	-71.58%	-75.67%	+4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.36%	57.09%	-0.73%

Volatility

TSDD vs. TSLZ - Volatility Comparison

GraniteShares 2x Short TSLA Daily ETF (TSDD) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) have volatilities of 25.52% and 25.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSDD	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.52%	25.49%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	56.17%	56.21%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	88.59%	87.45%	+1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	114.18%	116.74%	-2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.18%	116.74%	-2.56%

TSDD vs. TSLZ - Expense Ratio Comparison

TSDD has a 1.50% expense ratio, which is higher than TSLZ's 1.05% expense ratio.

Dividends

TSDD vs. TSLZ - Dividend Comparison

TSDD's dividend yield for the trailing twelve months is around 8.34%, more than TSLZ's 0.69% yield.

Position	TTM	2025	2024	2023
TSDD GraniteShares 2x Short TSLA Daily ETF	8.34%	8.42%	0.00%	24.84%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.69%	0.69%	2.08%	12.15%

Frequently Asked Questions

Can I hold both TSDD and TSLZ in my portfolio?

With a correlation of 1.00, TSDD and TSLZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TSDD or TSLZ?

TSDD has higher volatility (25.52%) compared to TSLZ (25.49%). In terms of maximum drawdown, TSDD dropped -99.03% vs TSLZ's -99.11%.

Which ETF is better, TSDD or TSLZ?

On 1-year performance, TSDD leads with -62.65% vs -63.91% for TSLZ. On fees, TSLZ is cheaper at 1.05% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSDD or TSLZ?

Over the 1-year period, TSDD has performed better with a -62.65% return vs -63.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSDD or TSLZ?

TSLZ is cheaper with a 1.05% expense ratio, compared with 1.50% for TSDD.

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

TSDD has the higher dividend yield at 8.34%, compared with 0.69% for TSLZ.

What is the main difference between TSDD and TSLZ?

They also come from different issuers: GraniteShares and T-Rex. Their fees differ too: 1.50% for TSDD and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSDD currently has the higher Sharpe Ratio (-0.71 vs -0.73), 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.