TSDD vs. XEH.TO

Last updated Jun 16, 2026

TSDD (GraniteShares 2x Short TSLA Daily ETF) and XEH.TO (iShares MSCI Europe IMI Index ETF (CAD-Hedged)) are both exchange-traded funds - TSDD is a Inverse Equities fund actively managed by GraniteShares, while XEH.TO is a Europe Equities fund tracking the Morningstar Eur GR CAD. TSDD is actively managed, while XEH.TO is passively managed. Over the past year, TSDD returned -63.05% vs 15.91% for XEH.TO. At a correlation of -0.23, they often move in opposite directions. TSDD charges 1.50%/yr vs 0.28%/yr for XEH.TO.

Performance

TSDD vs. XEH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short TSLA Daily ETF (TSDD) and iShares MSCI Europe IMI Index ETF (CAD-Hedged) (XEH.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TSDD is traded in USD, while XEH.TO is traded in CAD. To make them comparable, the XEH.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TSDD achieves a -1.55% return, which is significantly lower than XEH.TO's 6.87% return.

TSDD

• 1D: -2.06%
• 1M: 0.66%
• YTD: -1.55%
• 6M: 8.10%
• 1Y: -63.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XEH.TO

• 1D: 0.41%
• 1M: 3.05%
• YTD: 6.87%
• 6M: 8.57%
• 1Y: 15.91%
• 3Y*: 11.57%
• 5Y*: 6.47%
• 10Y*: 9.61%

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

TSDD vs. XEH.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSDD GraniteShares 2x Short TSLA Daily ETF	-1.55%	-74.84%	-89.21%	-20.49%
XEH.TO iShares MSCI Europe IMI Index ETF (CAD-Hedged)	6.87%	26.19%	-0.69%	9.34%

Correlation

The correlation between TSDD and XEH.TO is -0.26, 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	-0.26
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	-0.23

TSDD vs. XEH.TO - Sectors Allocation Comparison

Sectors	TSDD	XEH.TO
Consumer Cyclical	200.1%	6.6%
Basic Materials	-	5.3%
Communication Services	-	3.3%
Consumer Defensive	-	8.0%
Energy	-	4.2%
Financial Services	-	20.7%
Healthcare	-	10.9%
Industrials	-	15.9%
Real Estate	-	1.4%
Technology	-	9.0%
Utilities	-	3.6%

Return for Risk

TSDD vs. XEH.TO — 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

XEH.TO

XEH.TO Risk / Return Rank: 46
XEH.TO Sharpe Ratio Rank: 47
XEH.TO Sortino Ratio Rank: 47
XEH.TO Omega Ratio Rank: 47
XEH.TO Calmar Ratio Rank: 40
XEH.TO Martin Ratio Rank: 49

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. XEH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short TSLA Daily ETF (TSDD) and iShares MSCI Europe IMI Index ETF (CAD-Hedged) (XEH.TO). 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	XEH.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	1.15	-1.86
Sortino ratio: Return per unit of downside risk	-0.93	1.70	-2.63
Omega ratio: Gain probability vs. loss probability	0.90	1.21	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.87	1.48	-2.36
Martin ratio: Return relative to average drawdown	-1.13	5.68	-6.81

TSDD vs. XEH.TO - Sharpe Ratio Comparison

The current TSDD Sharpe Ratio is -0.71, which is lower than the XEH.TO Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of TSDD and XEH.TO, 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. XEH.TO - Drawdown Comparison

The maximum TSDD drawdown since its inception was -99.03%, which is greater than XEH.TO's maximum drawdown of -40.46%. Use the drawdown chart below to compare losses from any high point for TSDD and XEH.TO.

Drawdown Indicators

	TSDD	XEH.TO	Difference
Max Drawdown Largest peak-to-trough decline	-99.03%	-40.46%	-58.57%
Max Drawdown (1Y) Largest decline over 1 year	-72.39%	-10.77%	-61.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.46%	—
Current Drawdown Current decline from peak	-98.87%	-1.13%	-97.74%
Average Drawdown Average peak-to-trough decline	-71.42%	-7.86%	-63.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.75%	2.81%	+52.94%

Volatility

TSDD vs. XEH.TO - Volatility Comparison

GraniteShares 2x Short TSLA Daily ETF (TSDD) has a higher volatility of 28.08% compared to iShares MSCI Europe IMI Index ETF (CAD-Hedged) (XEH.TO) at 4.54%. This indicates that TSDD's price experiences larger fluctuations and is considered to be riskier than XEH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSDD	XEH.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.08%	4.54%	+23.54%
Volatility (6M) Calculated over the trailing 6-month period	57.62%	11.29%	+46.33%
Volatility (1Y) Calculated over the trailing 1-year period	88.83%	13.91%	+74.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	114.45%	15.60%	+98.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.45%	17.46%	+96.99%

TSDD vs. XEH.TO - Expense Ratio Comparison

TSDD has a 1.50% expense ratio, which is higher than XEH.TO's 0.28% expense ratio.

Dividends

TSDD vs. XEH.TO - Dividend Comparison

TSDD's dividend yield for the trailing twelve months is around 8.55%, more than XEH.TO's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSDD GraniteShares 2x Short TSLA Daily ETF	8.55%	8.42%	0.00%	24.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XEH.TO iShares MSCI Europe IMI Index ETF (CAD-Hedged)	2.30%	2.50%	2.71%	2.98%	3.12%	2.40%	2.01%	3.52%	3.39%	2.22%	2.39%	2.27%

Frequently Asked Questions

Can I hold both TSDD and XEH.TO in my portfolio?

TSDD and XEH.TO have a correlation of -0.26, 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 XEH.TO?

On fees, XEH.TO is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSDD or XEH.TO?

XEH.TO is cheaper with a 0.28% expense ratio, compared with 1.50% for TSDD.

What is the main difference between TSDD and XEH.TO?

TSDD is categorized as Inverse Equities, while XEH.TO is Europe Equities. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.50% for TSDD and 0.28% for XEH.TO.