TSL vs. QQQ
TSL (GraniteShares 1.25x Long Tsla Daily ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - TSL is a Leveraged Equities fund actively managed by GraniteShares, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. TSL is actively managed, while QQQ is passively managed. Over the past 3 years, TSL returned -2.52%/yr vs 22.29%/yr for QQQ. Their 0.61 correlation means they have sometimes moved together and sometimes differently. TSL charges 1.15%/yr vs 0.18%/yr for QQQ.
Performance
TSL vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, TSL achieves a -39.23% return, which is significantly lower than QQQ's 12.26% return.
TSL
- 1D
- 1.55%
- 1M
- -26.02%
- 6M
- -35.54%
- YTD
- -39.23%
- 1Y
- -3.12%
- 3Y*
- -2.52%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -8.10%
QQQ
- 1D
- 0.65%
- 1M
- -3.45%
- 6M
- 10.89%
- YTD
- 12.26%
- 1Y
- 24.81%
- 3Y*
- 22.29%
- 5Y*
- 14.23%
- 10Y*
- 20.44%
- ALL TIME*
- 10.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $30.32B | $28.40B | $31.45B | |
| $7.38M | $7.88M | $12.96M |
TSL vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSL GraniteShares 1.25x Long Tsla Daily ETF | -39.23% | 3.49% | 64.12% | 113.79% | -67.61% |
QQQ Invesco QQQ ETF | 12.26% | 20.77% | 25.58% | 54.86% | -16.62% |
Correlation
The correlation between TSL and QQQ is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.61 |
The correlation between TSL and QQQ has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
TSL vs. QQQ - Sectors Allocation Comparison
Sectors
TSL
QQQ
Consumer Cyclical
Basic Materials
-
Communication Services
-
Consumer Defensive
-
Energy
-
Financial Services
-
Healthcare
-
Industrials
-
Real Estate
-
Technology
-
Utilities
-
Consumer Cyclical
TSL
QQQ
Basic Materials
TSL
-
QQQ
Communication Services
TSL
-
QQQ
Consumer Defensive
TSL
-
QQQ
Energy
TSL
-
QQQ
Financial Services
TSL
-
QQQ
Healthcare
TSL
-
QQQ
Industrials
TSL
-
QQQ
Real Estate
TSL
-
QQQ
Technology
TSL
-
QQQ
Utilities
TSL
-
QQQ
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Return for Risk
TSL vs. QQQ — Risk / Return Rank
TSL
QQQ
TSL vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 1.25x Long Tsla Daily ETF (TSL) and Invesco QQQ ETF (QQQ). 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.
| TSL | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.21 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 1.88 | -1.98 |
| Martin ratioReturn relative to average drawdown | -0.27 | 6.00 | -6.26 |
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Drawdowns
TSL vs. QQQ - Drawdown Comparison
The maximum TSL drawdown since its inception was -74.52%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for TSL and QQQ.
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Drawdown Indicators
| TSL | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.52% | -82.97% | +8.45% |
Max Drawdown (1Y)Largest decline over 1 year | -48.38% | -11.96% | -36.42% |
Max Drawdown (3Y)Largest decline over 3 years | -63.30% | -22.77% | -40.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.12% | — |
Current DrawdownCurrent decline from peak | -49.63% | -7.69% | -41.94% |
Average DrawdownAverage peak-to-trough decline | -38.51% | -32.62% | -5.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.64% | 3.74% | +15.90% |
Volatility
TSL vs. QQQ - Volatility Comparison
GraniteShares 1.25x Long Tsla Daily ETF (TSL) has a higher volatility of 26.08% compared to Invesco QQQ ETF (QQQ) at 6.87%. This indicates that TSL's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSL | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.08% | 6.87% | +19.21% |
Volatility (6M)Calculated over the trailing 6-month period | 43.45% | 16.08% | +27.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.86% | 19.38% | +38.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.45% | 22.90% | +50.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.45% | 22.50% | +50.95% |
TSL vs. QQQ - Expense Ratio Comparison
TSL has a 1.15% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Dividends
TSL vs. QQQ - Dividend Comparison
TSL has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 0.44% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
TSL GraniteShares 1.25x Long Tsla Daily ETF | 0.00% | 0.00% | 0.00% | 60.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSL and QQQ have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSL has higher volatility (26.08%) compared to QQQ (6.87%). In terms of maximum drawdown, TSL dropped -74.52% vs QQQ's -82.97%.
On 3-year performance, QQQ leads with 22.29% vs -2.52% for TSL. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 6.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QQQ has performed better with a 22.29% return vs -2.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQ is cheaper with a 0.18% expense ratio, compared with 1.15% for TSL.
QQQ has the higher dividend yield at 0.44%, compared with 0.00% for TSL.
TSL is categorized as Leveraged Equities, while QQQ is Nasdaq-100. They also come from different issuers: GraniteShares and Invesco. Their fees differ too: 1.15% for TSL and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (1.16 vs -0.09), 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.
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