TSLG vs. TSLL

Last updated Jun 3, 2026

TSLG (Leverage Shares 2X Long TSLA Daily ETF) and TSLL (Direxion Daily TSLA Bull 1.5X Shares) are both Leveraged Equities funds. Both are actively managed. Over the past year, TSLG returned 8.61% vs 8.13% for TSLL. With a 1.00 correlation, they move nearly in lockstep. TSLG charges 0.75%/yr vs 1.08%/yr for TSLL.

Performance

TSLG vs. TSLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long TSLA Daily ETF (TSLG) and Direxion Daily TSLA Bull 1.5X Shares (TSLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TSLG having a -20.71% return and TSLL slightly lower at -20.85%.

TSLG

• 1D: 3.94%
• 1M: 14.75%
• YTD: -20.71%
• 6M: -14.74%
• 1Y: 8.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLL

• 1D: 3.73%
• 1M: 14.84%
• YTD: -20.85%
• 6M: -14.93%
• 1Y: 8.13%
• 3Y*: 9.79%
• 5Y*: —
• 10Y*: —

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

TSLG vs. TSLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLG Leverage Shares 2X Long TSLA Daily ETF	-20.71%	-26.70%	-16.81%
TSLL Direxion Daily TSLA Bull 1.5X Shares	-20.85%	-26.80%	-16.90%

Correlation

The correlation between TSLG and TSLL 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 Dec 16, 2024	1.00

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

Return for Risk

TSLG vs. TSLL — Risk / Return Rank

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

TSLG

TSLG Risk / Return Rank: 12
TSLG Sharpe Ratio Rank: 10
TSLG Sortino Ratio Rank: 16
TSLG Omega Ratio Rank: 16
TSLG Calmar Ratio Rank: 10
TSLG Martin Ratio Rank: 10

TSLL

TSLL Risk / Return Rank: 12
TSLL Sharpe Ratio Rank: 10
TSLL Sortino Ratio Rank: 16
TSLL Omega Ratio Rank: 16
TSLL Calmar Ratio Rank: 10
TSLL Martin Ratio Rank: 10

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.

TSLG vs. TSLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSLA Daily ETF (TSLG) and Direxion Daily TSLA Bull 1.5X Shares (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.

	TSLG	TSLL	Difference
Sharpe ratio Return per unit of total volatility	0.09	0.09	+0.01
Sortino ratio Return per unit of downside risk	0.79	0.79	+0.01
Omega ratio Gain probability vs. loss probability	1.10	1.10	0.00
Calmar ratio Return relative to maximum drawdown	0.12	0.11	0.00
Martin ratio Return relative to average drawdown	0.24	0.23	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLG vs. TSLL - Sharpe Ratio Comparison

The current TSLG Sharpe Ratio is 0.09, which is comparable to the TSLL Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of TSLG and TSLL, 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

	TSLG	TSLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	0.09	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	-0.34	-0.08	-0.27

Drawdowns

TSLG vs. TSLL - Drawdown Comparison

The maximum TSLG drawdown since its inception was -82.86%, roughly equal to the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for TSLG and TSLL.

Drawdown Indicators

	TSLG	TSLL	Difference
Max Drawdown Largest peak-to-trough decline	-82.86%	-82.88%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-54.61%	-54.75%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-82.88%	—
Current Drawdown Current decline from peak	-59.94%	-60.03%	+0.09%
Average Drawdown Average peak-to-trough decline	-58.72%	-53.82%	-4.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.54%	26.64%	-0.10%

Volatility

TSLG vs. TSLL - Volatility Comparison

Leverage Shares 2X Long TSLA Daily ETF (TSLG) and Direxion Daily TSLA Bull 1.5X Shares (TSLL) have volatilities of 24.39% and 24.25%, 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

	TSLG	TSLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.39%	24.25%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	54.58%	54.47%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	92.55%	92.40%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.47%	106.93%	+8.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.47%	106.93%	+8.54%

TSLG vs. TSLL - Expense Ratio Comparison

TSLG has a 0.75% expense ratio, which is lower than TSLL's 1.08% expense ratio.

Dividends

TSLG vs. TSLL - Dividend Comparison

TSLG's dividend yield for the trailing twelve months is around 8.26%, more than TSLL's 6.46% yield.

Position	TTM	2025	2024	2023	2022
TSLG Leverage Shares 2X Long TSLA Daily ETF	8.26%	6.55%	0.00%	0.00%	0.00%
TSLL Direxion Daily TSLA Bull 1.5X Shares	6.46%	5.00%	2.47%	4.44%	1.57%

Frequently Asked Questions

Can I hold both TSLG and TSLL in my portfolio?

With a correlation of 1.00, TSLG 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.

Which is riskier, TSLG or TSLL?

TSLG has higher volatility (24.39%) compared to TSLL (24.25%). In terms of maximum drawdown, TSLG dropped -82.86% vs TSLL's -82.88%.

Which ETF is better, TSLG or TSLL?

On 1-year performance, TSLG leads with 8.61% vs 8.13% for TSLL. On fees, TSLG is cheaper at 0.75% per year. On volatility, TSLL has been the lower-risk option at 24.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLG or TSLL?

Over the 1-year period, TSLG has performed better with a 8.61% return vs 8.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLG or TSLL?

TSLG is cheaper with a 0.75% expense ratio, compared with 1.08% for TSLL.

Which ETF pays a higher dividend yield, TSLG or TSLL?

TSLG has the higher dividend yield at 8.26%, compared with 6.46% for TSLL.

What is the main difference between TSLG and TSLL?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for TSLG and 1.08% for TSLL.

Which has better risk-adjusted returns?

TSLG currently has the higher Sharpe Ratio (0.09 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.