TSLL vs. FNGU

Last updated Jun 25, 2026

TSLL (Direxion Daily TSLA Bull 2X ETF) and FNGU (MicroSectors FANG+ 3X Leveraged ETNs) are both Leveraged Equities funds. TSLL is actively managed, while FNGU is passively managed. Over the past year, TSLL returned -11.43% vs 10.35% for FNGU. A 0.54 correlation means they provide meaningful diversification when combined. TSLL charges 0.83%/yr vs 2.60%/yr for FNGU.

Performance

TSLL vs. FNGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSLA Bull 2X ETF (TSLL) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLL achieves a -39.31% return, which is significantly lower than FNGU's -3.37% return.

TSLL

• 1D: -3.38%
• 1M: -24.58%
• YTD: -39.31%
• 6M: -48.10%
• 1Y: -11.43%
• 3Y*: -7.94%
• 5Y*: —
• 10Y*: —

FNGU

• 1D: -2.40%
• 1M: -15.04%
• YTD: -3.37%
• 6M: -8.41%
• 1Y: 10.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLL vs. FNGU - Yearly Performance Comparison

	2026 (YTD)	2025
TSLL Direxion Daily TSLA Bull 2X ETF	-39.31%	-2.79%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	-3.37%	3.02%

Correlation

The correlation between TSLL and FNGU is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.54

The correlation between TSLL and FNGU has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.

TSLL vs. FNGU - Sectors Allocation Comparison

Sectors	TSLL	FNGU
Consumer Cyclical	100.0%	9.6%
Basic Materials	-	-
Communication Services	-	29.8%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	60.6%
Utilities	-	-

Return for Risk

TSLL vs. FNGU — Risk / Return Rank

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

TSLL

TSLL Risk / Return Rank: 9
TSLL Sharpe Ratio Rank: 8
TSLL Sortino Ratio Rank: 11
TSLL Omega Ratio Rank: 11
TSLL Calmar Ratio Rank: 7
TSLL Martin Ratio Rank: 7

FNGU

FNGU Risk / Return Rank: 12
FNGU Sharpe Ratio Rank: 11
FNGU Sortino Ratio Rank: 14
FNGU Omega Ratio Rank: 14
FNGU Calmar Ratio Rank: 11
FNGU Martin Ratio Rank: 11

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.

TSLL vs. FNGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bull 2X ETF (TSLL) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). 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.

	TSLL	FNGU	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	0.16	-0.29
Sortino ratio: Return per unit of downside risk	0.43	0.67	-0.25
Omega ratio: Gain probability vs. loss probability	1.05	1.08	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.21	0.17	-0.38
Martin ratio: Return relative to average drawdown	-0.42	0.41	-0.83

TSLL vs. FNGU - Sharpe Ratio Comparison

The current TSLL Sharpe Ratio is -0.13, which is lower than the FNGU Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of TSLL and FNGU, 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

TSLL vs. FNGU - Drawdown Comparison

The maximum TSLL drawdown since its inception was -82.88%, which is greater than FNGU's maximum drawdown of -61.30%. Use the drawdown chart below to compare losses from any high point for TSLL and FNGU.

Drawdown Indicators

	TSLL	FNGU	Difference
Max Drawdown Largest peak-to-trough decline	-82.88%	-61.30%	-21.58%
Max Drawdown (1Y) Largest decline over 1 year	-54.75%	-59.55%	+4.80%
Max Drawdown (3Y) Largest decline over 3 years	-82.88%	—	—
Current Drawdown Current decline from peak	-69.35%	-32.48%	-36.87%
Average Drawdown Average peak-to-trough decline	-53.93%	-22.30%	-31.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.51%	25.26%	+2.25%

Volatility

TSLL vs. FNGU - Volatility Comparison

The current volatility for Direxion Daily TSLA Bull 2X ETF (TSLL) is 28.32%, while MicroSectors FANG+ 3X Leveraged ETNs (FNGU) has a volatility of 33.23%. This indicates that TSLL experiences smaller price fluctuations and is considered to be less risky than FNGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLL	FNGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.32%	33.23%	-4.91%
Volatility (6M) Calculated over the trailing 6-month period	56.74%	52.52%	+4.22%
Volatility (1Y) Calculated over the trailing 1-year period	87.53%	64.45%	+23.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	106.85%	81.09%	+25.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.85%	81.09%	+25.76%

TSLL vs. FNGU - Expense Ratio Comparison

TSLL has a 0.83% expense ratio, which is lower than FNGU's 2.60% expense ratio.

Dividends

TSLL vs. FNGU - Dividend Comparison

TSLL's dividend yield for the trailing twelve months is around 8.63%, while FNGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
FNGU MicroSectors FANG+ 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%
TSLL Direxion Daily TSLA Bull 2X ETF	8.63%	5.00%	2.47%	4.44%	1.57%

Frequently Asked Questions

Can I hold both TSLL and FNGU in my portfolio?

TSLL and FNGU have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLL or FNGU?

FNGU has higher volatility (33.23%) compared to TSLL (28.32%). In terms of maximum drawdown, TSLL dropped -82.88% vs FNGU's -61.30%.

Which ETF is better, TSLL or FNGU?

On 1-year performance, FNGU leads with 10.35% vs -11.43% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLL has been the lower-risk option at 28.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLL or FNGU?

Over the 1-year period, FNGU has performed better with a 10.35% return vs -11.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLL or FNGU?

TSLL is cheaper with a 0.83% expense ratio, compared with 2.60% for FNGU.

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

TSLL has the higher dividend yield at 8.63%, compared with 0.00% for FNGU.

What is the main difference between TSLL and FNGU?

They also come from different issuers: Direxion and Bank of Montreal. Their fees differ too: 0.83% for TSLL and 2.60% for FNGU.

Which has better risk-adjusted returns?

FNGU currently has the higher Sharpe Ratio (0.16 vs -0.13), 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.