TSL vs. WTIU

Last updated Aug 4, 2026

TSL (GraniteShares 1.25x Long Tsla Daily ETF) and WTIU (MicroSectors Energy 3X Leveraged ETN) are both Leveraged Equities funds. TSL is actively managed, while WTIU is passively managed. Over the past 3 years, TSL returned 0.02%/yr vs -1.04%/yr for WTIU. Their 0.06 correlation means their historical movements had little consistent relationship. TSL charges 1.15%/yr vs 0.95%/yr for WTIU.

Performance

TSL vs. WTIU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 1.25x Long Tsla Daily ETF (TSL) and MicroSectors Energy 3X Leveraged ETN (WTIU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSL achieves a -36.68% return, which is significantly lower than WTIU's 95.37% return.

TSL

• 1D: 4.19%
• 1M: -22.91%
• 6M: -31.12%
• YTD: -36.68%
• 1Y: 0.94%
• 3Y*: 0.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -7.13%

WTIU

• 1D: -4.60%
• 1M: 39.23%
• 6M: 55.77%
• YTD: 95.37%
• 1Y: 104.76%
• 3Y*: -1.04%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -5.73%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TSL GraniteShares 1.25x Long Tsla Daily ETF	$7.63M	$7.71M	$12.52M
WTIU MicroSectors Energy 3X Leveraged ETN	$1.41M	$930.94K	$851.49K

TSL vs. WTIU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSL GraniteShares 1.25x Long Tsla Daily ETF	-36.68%	3.49%	64.12%	12.75%
WTIU MicroSectors Energy 3X Leveraged ETN	95.37%	-17.13%	-29.63%	-28.45%

Correlation

The correlation between TSL and WTIU is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.14
Correlation (3Y) Balances recent behavior with more history.	0.04
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023	0.06

The correlation between TSL and WTIU shifts across timeframes, from -0.14 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

TSL vs. WTIU - Sectors Allocation Comparison

Sectors	TSL	WTIU
Consumer Cyclical	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TSL vs. WTIU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSL

TSL Risk / Return Rank: 13
TSL Sharpe Ratio Rank: 11
TSL Sortino Ratio Rank: 15
TSL Omega Ratio Rank: 15
TSL Calmar Ratio Rank: 11
TSL Martin Ratio Rank: 11

WTIU

WTIU Risk / Return Rank: 55
WTIU Sharpe Ratio Rank: 63
WTIU Sortino Ratio Rank: 55
WTIU Omega Ratio Rank: 54
WTIU Calmar Ratio Rank: 60
WTIU Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSL vs. WTIU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 1.25x Long Tsla Daily ETF (TSL) and MicroSectors Energy 3X Leveraged ETN (WTIU). 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	WTIU	Difference
Sharpe ratio: Return per unit of total volatility	0.02	1.51	-1.50
Sortino ratio: Return per unit of downside risk	0.43	1.99	-1.56
Omega ratio: Gain probability vs. loss probability	1.05	1.25	-0.20
Calmar ratio: Return relative to maximum drawdown	0.02	2.19	-2.17
Martin ratio: Return relative to average drawdown	0.05	4.99	-4.94

TSL vs. WTIU - Sharpe Ratio Comparison

The current TSL Sharpe Ratio is 0.02, which is lower than the WTIU Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of TSL and WTIU, 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

TSL vs. WTIU - Drawdown Comparison

The maximum TSL drawdown since its inception was -74.52%, roughly equal to the maximum WTIU drawdown of -75.73%. Use the drawdown chart below to compare losses from any high point for TSL and WTIU.

Drawdown Indicators

	TSL	WTIU	Difference
Max Drawdown Largest peak-to-trough decline	-74.52%	-75.73%	+1.21%
Max Drawdown (1Y) Largest decline over 1 year	-48.38%	-48.11%	-0.27%
Max Drawdown (3Y) Largest decline over 3 years	-63.30%	-75.73%	+12.43%
Current Drawdown Current decline from peak	-47.52%	-30.75%	-16.77%
Average Drawdown Average peak-to-trough decline	-38.51%	-39.20%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.82%	21.07%	-1.25%

Volatility

TSL vs. WTIU - Volatility Comparison

GraniteShares 1.25x Long Tsla Daily ETF (TSL) has a higher volatility of 25.38% compared to MicroSectors Energy 3X Leveraged ETN (WTIU) at 22.17%. This indicates that TSL's price experiences larger fluctuations and is considered to be riskier than WTIU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSL	WTIU	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.38%	22.17%	+3.21%
Volatility (6M) Calculated over the trailing 6-month period	43.47%	57.97%	-14.50%
Volatility (1Y) Calculated over the trailing 1-year period	57.91%	69.79%	-11.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.44%	70.86%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.44%	70.86%	+2.58%

TSL vs. WTIU - Expense Ratio Comparison

TSL has a 1.15% expense ratio, which is higher than WTIU's 0.95% expense ratio.

Dividends

TSL vs. WTIU - Dividend Comparison

Neither TSL nor WTIU has paid dividends to shareholders.

Position	TTM	2025	2024	2023
TSL GraniteShares 1.25x Long Tsla Daily ETF	0.00%	0.00%	0.00%	60.47%
WTIU MicroSectors Energy 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSL and WTIU in my portfolio?

TSL and WTIU have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSL or WTIU?

TSL has higher volatility (25.38%) compared to WTIU (22.17%). In terms of maximum drawdown, TSL dropped -74.52% vs WTIU's -75.73%.

Which ETF is better, TSL or WTIU?

On 3-year performance, TSL leads with 0.02% vs -1.04% for WTIU. On fees, WTIU is cheaper at 0.95% per year. On volatility, WTIU has been the lower-risk option at 22.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSL or WTIU?

Over the 3-year period, TSL has performed better with a 0.02% return vs -1.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSL or WTIU?

WTIU is cheaper with a 0.95% expense ratio, compared with 1.15% for TSL.

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

TSL and WTIU have nearly identical dividend yields, around 0.00%.

What is the main difference between TSL and WTIU?

They also come from different issuers: GraniteShares and REX. Their fees differ too: 1.15% for TSL and 0.95% for WTIU.

Which has better risk-adjusted returns?

WTIU currently has the higher Sharpe Ratio (1.51 vs 0.02), 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.