TSLL vs. TSL

Last updated Jun 21, 2026

TSLL (Direxion Daily TSLA Bull 2X ETF) and TSL (GraniteShares 1.25x Long Tsla Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past 3 years, TSLL returned -4.62%/yr vs 8.36%/yr for TSL. With a 1.00 correlation, they move nearly in lockstep. TSLL charges 0.83%/yr vs 1.15%/yr for TSL.

Performance

TSLL vs. TSL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSLA Bull 2X ETF (TSLL) and GraniteShares 1.25x Long Tsla Daily ETF (TSL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLL achieves a -30.60% return, which is significantly lower than TSL's -15.63% return.

TSLL

• 1D: 1.86%
• 1M: -13.76%
• YTD: -30.60%
• 6M: -39.72%
• 1Y: 12.29%
• 3Y*: -4.62%
• 5Y*: —
• 10Y*: —

TSL

• 1D: 1.40%
• 1M: -7.66%
• YTD: -15.63%
• 6M: -22.58%
• 1Y: 23.27%
• 3Y*: 8.36%
• 5Y*: —
• 10Y*: —

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

TSLL vs. TSL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TSLL Direxion Daily TSLA Bull 2X ETF	-30.60%	-26.80%	99.63%	139.86%	-74.99%
TSL GraniteShares 1.25x Long Tsla Daily ETF	-15.63%	3.49%	64.12%	113.79%	-67.61%

Correlation

The correlation between TSLL and TSL 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 (3Y) Calculated over the trailing 3-year period	1.00
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022	1.00

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

TSLL vs. TSL - Sectors Allocation Comparison

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

Return for Risk

TSLL vs. TSL — Risk / Return Rank

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

TSLL

TSLL Risk / Return Rank: 13
TSLL Sharpe Ratio Rank: 10
TSLL Sortino Ratio Rank: 16
TSLL Omega Ratio Rank: 15
TSLL Calmar Ratio Rank: 11
TSLL Martin Ratio Rank: 10

TSL

TSL Risk / Return Rank: 16
TSL Sharpe Ratio Rank: 15
TSL Sortino Ratio Rank: 18
TSL Omega Ratio Rank: 17
TSL Calmar Ratio Rank: 16
TSL 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.

TSLL vs. TSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bull 2X ETF (TSLL) and GraniteShares 1.25x Long Tsla Daily ETF (TSL). 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	TSL	Difference
Sharpe ratio: Return per unit of total volatility	0.14	0.42	-0.28
Sortino ratio: Return per unit of downside risk	0.84	0.95	-0.12
Omega ratio: Gain probability vs. loss probability	1.10	1.11	-0.01
Calmar ratio: Return relative to maximum drawdown	0.22	0.62	-0.40
Martin ratio: Return relative to average drawdown	0.44	1.35	-0.91

TSLL vs. TSL - Sharpe Ratio Comparison

The current TSLL Sharpe Ratio is 0.14, which is lower than the TSL Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of TSLL and TSL, 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. TSL - Drawdown Comparison

The maximum TSLL drawdown since its inception was -82.88%, which is greater than TSL's maximum drawdown of -74.52%. Use the drawdown chart below to compare losses from any high point for TSLL and TSL.

Drawdown Indicators

	TSLL	TSL	Difference
Max Drawdown Largest peak-to-trough decline	-82.88%	-74.52%	-8.36%
Max Drawdown (1Y) Largest decline over 1 year	-54.75%	-36.98%	-17.77%
Max Drawdown (3Y) Largest decline over 3 years	-82.88%	-63.30%	-19.58%
Current Drawdown Current decline from peak	-64.96%	-30.06%	-34.90%
Average Drawdown Average peak-to-trough decline	-53.89%	-38.58%	-15.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.50%	16.96%	+10.54%

Volatility

TSLL vs. TSL - Volatility Comparison

Direxion Daily TSLA Bull 2X ETF (TSLL) has a higher volatility of 26.80% compared to GraniteShares 1.25x Long Tsla Daily ETF (TSL) at 16.75%. This indicates that TSLL's price experiences larger fluctuations and is considered to be riskier than TSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLL	TSL	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.80%	16.75%	+10.05%
Volatility (6M) Calculated over the trailing 6-month period	56.55%	35.39%	+21.16%
Volatility (1Y) Calculated over the trailing 1-year period	88.23%	55.33%	+32.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	106.82%	73.08%	+33.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.82%	73.08%	+33.74%

TSLL vs. TSL - Expense Ratio Comparison

TSLL has a 0.83% expense ratio, which is lower than TSL's 1.15% expense ratio.

Dividends

TSLL vs. TSL - Dividend Comparison

TSLL's dividend yield for the trailing twelve months is around 7.37%, while TSL has not paid dividends to shareholders.

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	7.37%	5.00%	2.47%	4.44%	1.57%

Frequently Asked Questions

Can I hold both TSLL and TSL in my portfolio?

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

TSLL has higher volatility (26.80%) compared to TSL (16.75%). In terms of maximum drawdown, TSLL dropped -82.88% vs TSL's -74.52%.

Which ETF is better, TSLL or TSL?

On 3-year performance, TSL leads with 8.36% vs -4.62% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSL has been the lower-risk option at 16.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLL or TSL?

Over the 3-year period, TSL has performed better with a 8.36% return vs -4.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLL or TSL?

TSLL is cheaper with a 0.83% expense ratio, compared with 1.15% for TSL.

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

TSLL has the higher dividend yield at 7.37%, compared with 0.00% for TSL.

What is the main difference between TSLL and TSL?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 0.83% for TSLL and 1.15% for TSL.

Which has better risk-adjusted returns?

TSL currently has the higher Sharpe Ratio (0.42 vs 0.14), 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.