TSL vs. TSLW

Last updated Jun 4, 2026

TSL (GraniteShares 1.25x Long Tsla Daily ETF) and TSLW (Roundhill TSLA WeeklyPay™ ETF) are both exchange-traded funds - TSL is a Leveraged Equities fund actively managed by GraniteShares, while TSLW is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, TSL returned 20.41% vs 20.22% for TSLW. With a 1.00 correlation, they move nearly in lockstep. TSL charges 1.15%/yr vs 0.99%/yr for TSLW.

Performance

TSL vs. TSLW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 1.25x Long Tsla Daily ETF (TSL) and Roundhill TSLA WeeklyPay™ ETF (TSLW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TSL having a -9.40% return and TSLW slightly higher at -9.26%.

TSL

• 1D: -0.11%
• 1M: 9.37%
• YTD: -9.40%
• 6M: -9.11%
• 1Y: 20.41%
• 3Y*: 20.28%
• 5Y*: —
• 10Y*: —

TSLW

• 1D: -0.18%
• 1M: 9.09%
• YTD: -9.26%
• 6M: -9.14%
• 1Y: 20.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSL vs. TSLW - Yearly Performance Comparison

	2026 (YTD)	2025
TSL GraniteShares 1.25x Long Tsla Daily ETF	-9.40%	33.67%
TSLW Roundhill TSLA WeeklyPay™ ETF	-9.26%	33.77%

Correlation

The correlation between TSL and TSLW 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 Jun 3, 2025	1.00

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

Return for Risk

TSL vs. TSLW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TSL

TSL Risk / Return Rank: 16
TSL Sharpe Ratio Rank: 14
TSL Sortino Ratio Rank: 17
TSL Omega Ratio Rank: 17
TSL Calmar Ratio Rank: 16
TSL Martin Ratio Rank: 15

TSLW

TSLW Risk / Return Rank: 15
TSLW Sharpe Ratio Rank: 14
TSLW Sortino Ratio Rank: 17
TSLW Omega Ratio Rank: 17
TSLW Calmar Ratio Rank: 16
TSLW Martin Ratio Rank: 15

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.

TSL vs. TSLW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 1.25x Long Tsla Daily ETF (TSL) and Roundhill TSLA WeeklyPay™ ETF (TSLW). 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.

	TSL	TSLW	Difference
Sharpe ratio: Return per unit of total volatility	0.35	0.37	-0.01
Sortino ratio: Return per unit of downside risk	0.87	0.87	0.00
Omega ratio: Gain probability vs. loss probability	1.11	1.11	0.00
Calmar ratio: Return relative to maximum drawdown	0.55	0.57	-0.01
Martin ratio: Return relative to average drawdown	1.26	1.29	-0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSL vs. TSLW - Sharpe Ratio Comparison

The current TSL Sharpe Ratio is 0.35, which is comparable to the TSLW Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of TSL and TSLW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TSL	TSLW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.35	0.37	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.39	-0.35

Drawdowns

TSL vs. TSLW - Drawdown Comparison

The maximum TSL drawdown since its inception was -74.52%, which is greater than TSLW's maximum drawdown of -35.80%. Use the drawdown chart below to compare losses from any high point for TSL and TSLW.

Drawdown Indicators

	TSL	TSLW	Difference
Max Drawdown Largest peak-to-trough decline	-74.52%	-35.80%	-38.72%
Max Drawdown (1Y) Largest decline over 1 year	-36.98%	-35.80%	-1.18%
Max Drawdown (3Y) Largest decline over 3 years	-63.30%	—	—
Current Drawdown Current decline from peak	-24.91%	-18.23%	-6.68%
Average Drawdown Average peak-to-trough decline	-38.71%	-12.88%	-25.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.38%	15.77%	+0.61%

Volatility

TSL vs. TSLW - Volatility Comparison

GraniteShares 1.25x Long Tsla Daily ETF (TSL) and Roundhill TSLA WeeklyPay™ ETF (TSLW) have volatilities of 15.25% and 14.56%, 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

	TSL	TSLW	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.25%	14.56%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	34.12%	32.83%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	57.94%	55.52%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.18%	55.52%	+17.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.18%	55.52%	+17.66%

TSL vs. TSLW - Expense Ratio Comparison

TSL has a 1.15% expense ratio, which is higher than TSLW's 0.99% expense ratio.

Dividends

TSL vs. TSLW - Dividend Comparison

TSL has not paid dividends to shareholders, while TSLW's dividend yield for the trailing twelve months is around 84.61%.

Position	TTM	2025	2024	2023
TSL GraniteShares 1.25x Long Tsla Daily ETF	0.00%	0.00%	0.00%	60.47%
TSLW Roundhill TSLA WeeklyPay™ ETF	84.61%	49.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSL and TSLW in my portfolio?

With a correlation of 1.00, TSL and TSLW 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, TSL or TSLW?

TSL has higher volatility (15.25%) compared to TSLW (14.56%). In terms of maximum drawdown, TSL dropped -74.52% vs TSLW's -35.80%.

Which ETF is better, TSL or TSLW?

On 1-year performance, TSL leads with 20.41% vs 20.22% for TSLW. On fees, TSLW is cheaper at 0.99% per year. On volatility, TSLW has been the lower-risk option at 14.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSL or TSLW?

Over the 1-year period, TSL has performed better with a 20.41% return vs 20.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSL or TSLW?

TSLW is cheaper with a 0.99% expense ratio, compared with 1.15% for TSL.

Which ETF pays a higher dividend yield, TSL or TSLW?

TSLW has the higher dividend yield at 84.61%, compared with 0.00% for TSL.

What is the main difference between TSL and TSLW?

TSL is categorized as Leveraged Equities, while TSLW is Derivative Income. They also come from different issuers: GraniteShares and Roundhill. Their fees differ too: 1.15% for TSL and 0.99% for TSLW.

Which has better risk-adjusted returns?

TSLW currently has the higher Sharpe Ratio (0.37 vs 0.35), 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.