TSL vs. TSLL
TSL (GraniteShares 1.25x Long Tsla Daily ETF) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both Leveraged Equities funds. Both are actively managed. Over the past 3 years, TSL returned -2.52%/yr vs -20.90%/yr for TSLL. Their 1.00 correlation means they have historically moved very closely together. TSL charges 1.15%/yr vs 0.83%/yr for TSLL.
Performance
TSL vs. TSLL - Performance Comparison
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Returns By Period
In the year-to-date period, TSL achieves a -39.23% return, which is significantly higher than TSLL's -61.15% 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%
TSLL
- 1D
- 1.39%
- 1M
- -40.57%
- 6M
- -56.61%
- YTD
- -61.15%
- 1Y
- -25.18%
- 3Y*
- -20.90%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -23.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.38M | $7.88M | $12.96M | |
| $724.83M | $679.97M | $948.78M |
TSL vs. TSLL - 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% |
TSLL Direxion Daily TSLA Bull 2X ETF | -61.15% | -26.80% | 99.63% | 139.86% | -74.99% |
Correlation
The correlation between TSL and TSLL is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 1.00 |
The correlation between TSL and TSLL has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
TSL vs. TSLL - Sectors Allocation Comparison
Sectors
TSL
TSLL
Consumer Cyclical
Basic Materials
-
-
Communication Services
-
-
Consumer Defensive
-
-
Energy
-
-
Financial Services
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
-
Utilities
-
-
Consumer Cyclical
TSL
TSLL
Basic Materials
TSL
-
TSLL
-
Communication Services
TSL
-
TSLL
-
Consumer Defensive
TSL
-
TSLL
-
Energy
TSL
-
TSLL
-
Financial Services
TSL
-
TSLL
-
Healthcare
TSL
-
TSLL
-
Industrials
TSL
-
TSLL
-
Real Estate
TSL
-
TSLL
-
Technology
TSL
-
TSLL
-
Utilities
TSL
-
TSLL
-
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Return for Risk
TSL vs. TSLL — Risk / Return Rank
TSL
TSLL
TSL vs. TSLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 1.25x Long Tsla Daily ETF (TSL) and Direxion Daily TSLA Bull 2X ETF (TSLL). 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 | TSLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.02 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | -0.40 | +0.29 |
| Martin ratioReturn relative to average drawdown | -0.27 | -0.88 | +0.61 |
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Drawdowns
TSL vs. TSLL - Drawdown Comparison
The maximum TSL drawdown since its inception was -74.52%, smaller than the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for TSL and TSLL.
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Drawdown Indicators
| TSL | TSLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.52% | -82.88% | +8.36% |
Max Drawdown (1Y)Largest decline over 1 year | -48.38% | -70.13% | +21.75% |
Max Drawdown (3Y)Largest decline over 3 years | -63.30% | -82.88% | +19.58% |
Current DrawdownCurrent decline from peak | -49.63% | -80.38% | +30.75% |
Average DrawdownAverage peak-to-trough decline | -38.51% | -54.36% | +15.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.64% | 31.62% | -11.98% |
Volatility
TSL vs. TSLL - Volatility Comparison
The current volatility for GraniteShares 1.25x Long Tsla Daily ETF (TSL) is 26.08%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 43.16%. This indicates that TSL experiences smaller price fluctuations and is considered to be less risky than TSLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSL | TSLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.08% | 43.16% | -17.08% |
Volatility (6M)Calculated over the trailing 6-month period | 43.45% | 70.52% | -27.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.86% | 92.41% | -34.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.45% | 107.78% | -34.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.45% | 107.78% | -34.33% |
TSL vs. TSLL - Expense Ratio Comparison
TSL has a 1.15% expense ratio, which is higher than TSLL's 0.83% expense ratio.
Dividends
TSL vs. TSLL - Dividend Comparison
TSL has not paid dividends to shareholders, while TSLL's dividend yield for the trailing twelve months is around 13.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TSL GraniteShares 1.25x Long Tsla Daily ETF | 0.00% | 0.00% | 0.00% | 60.47% | 0.00% |
TSLL Direxion Daily TSLA Bull 2X ETF | 13.48% | 5.00% | 2.47% | 4.44% | 1.57% |
Frequently Asked Questions
With a correlation of 1.00, TSL and TSLL 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.
TSLL has higher volatility (43.16%) compared to TSL (26.08%). In terms of maximum drawdown, TSL dropped -74.52% vs TSLL's -82.88%.
On 3-year performance, TSL leads with -2.52% vs -20.90% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSL has been the lower-risk option at 26.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSL has performed better with a -2.52% return vs -20.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLL is cheaper with a 0.83% expense ratio, compared with 1.15% for TSL.
TSLL has the higher dividend yield at 13.48%, compared with 0.00% for TSL.
They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.15% for TSL and 0.83% for TSLL.
TSL currently has the higher Sharpe Ratio (-0.09 vs -0.30), 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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