TSLL vs. TSLT

Last updated Aug 1, 2026

TSLL (Direxion Daily TSLA Bull 2X ETF) and TSLT (T-Rex 2X Long Tesla Daily Target ETF) are both Leveraged Equities funds. TSLL is actively managed, while TSLT is passively managed. Over the past year, TSLL returned -25.18% vs -27.14% for TSLT. Their 1.00 correlation means they have historically moved very closely together. TSLL charges 0.83%/yr vs 1.05%/yr for TSLT.

Performance

TSLL vs. TSLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSLA Bull 2X ETF (TSLL) and T-Rex 2X Long Tesla Daily Target ETF (TSLT). 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 TSLL having a -61.15% return and TSLT slightly lower at -61.81%.

TSLL

• 1D: 1.39%
• 1M: -40.57%
• 6M: -56.61%
• YTD: -61.15%
• 1Y: -25.18%
• 3Y*: -20.90%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -23.74%

TSLT

• 1D: 1.29%
• 1M: -40.70%
• 6M: -57.20%
• YTD: -61.81%
• 1Y: -27.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -23.82%

*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)
TSLL Direxion Daily TSLA Bull 2X ETF	$724.83M	$679.97M	$948.78M
TSLT T-Rex 2X Long Tesla Daily Target ETF	$37.83M	$41.41M	$54.11M

TSLL vs. TSLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLL Direxion Daily TSLA Bull 2X ETF	-61.15%	-26.80%	99.63%	0.60%
TSLT T-Rex 2X Long Tesla Daily Target ETF	-61.81%	-29.49%	54.17%	13.02%

Correlation

The correlation between TSLL and TSLT is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	1.00

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

TSLL vs. TSLT - Sectors Allocation Comparison

Sectors	TSLL	TSLT
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. TSLT — Risk / Return Rank

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

TSLL

TSLL Risk / Return Rank: 8
TSLL Sharpe Ratio Rank: 7
TSLL Sortino Ratio Rank: 11
TSLL Omega Ratio Rank: 11
TSLL Calmar Ratio Rank: 6
TSLL Martin Ratio Rank: 5

TSLT

TSLT Risk / Return Rank: 8
TSLT Sharpe Ratio Rank: 7
TSLT Sortino Ratio Rank: 11
TSLT Omega Ratio Rank: 10
TSLT Calmar Ratio Rank: 6
TSLT Martin Ratio Rank: 5

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.

TSLL vs. TSLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bull 2X ETF (TSLL) and T-Rex 2X Long Tesla Daily Target ETF (TSLT). 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	TSLT	Difference
Sharpe ratio: Return per unit of total volatility	-0.30	-0.33	+0.02
Sortino ratio: Return per unit of downside risk	0.16	0.12	+0.05
Omega ratio: Gain probability vs. loss probability	1.02	1.01	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.40	-0.43	+0.03
Martin ratio: Return relative to average drawdown	-0.88	-0.94	+0.06

TSLL vs. TSLT - Sharpe Ratio Comparison

The current TSLL Sharpe Ratio is -0.30, which is comparable to the TSLT Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of TSLL and TSLT, 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. TSLT - Drawdown Comparison

The maximum TSLL drawdown since its inception was -82.88%, roughly equal to the maximum TSLT drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for TSLL and TSLT.

Drawdown Indicators

	TSLL	TSLT	Difference
Max Drawdown Largest peak-to-trough decline	-82.88%	-83.16%	+0.28%
Max Drawdown (1Y) Largest decline over 1 year	-70.13%	-70.65%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-82.88%	—	—
Current Drawdown Current decline from peak	-80.38%	-81.45%	+1.07%
Average Drawdown Average peak-to-trough decline	-54.36%	-51.45%	-2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.62%	32.01%	-0.39%

Volatility

TSLL vs. TSLT - Volatility Comparison

Direxion Daily TSLA Bull 2X ETF (TSLL) and T-Rex 2X Long Tesla Daily Target ETF (TSLT) have volatilities of 43.16% and 43.62%, 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

	TSLL	TSLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.16%	43.62%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	70.52%	70.67%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	92.41%	92.45%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.78%	117.71%	-9.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.78%	117.71%	-9.93%

TSLL vs. TSLT - Expense Ratio Comparison

TSLL has a 0.83% expense ratio, which is lower than TSLT's 1.05% expense ratio.

Dividends

TSLL vs. TSLT - Dividend Comparison

TSLL's dividend yield for the trailing twelve months is around 13.48%, while TSLT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
TSLL Direxion Daily TSLA Bull 2X ETF	13.48%	5.00%	2.47%	4.44%	1.57%
TSLT T-Rex 2X Long Tesla Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLL and TSLT in my portfolio?

With a correlation of 1.00, TSLL and TSLT 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 TSLT?

TSLT has higher volatility (43.62%) compared to TSLL (43.16%). In terms of maximum drawdown, TSLL dropped -82.88% vs TSLT's -83.16%.

Which ETF is better, TSLL or TSLT?

On 1-year performance, TSLL leads with -25.18% vs -27.14% for TSLT. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLL has been the lower-risk option at 43.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLL or TSLT?

Over the 1-year period, TSLL has performed better with a -25.18% return vs -27.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLL or TSLT?

TSLL is cheaper with a 0.83% expense ratio, compared with 1.05% for TSLT.

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

TSLL has the higher dividend yield at 13.48%, compared with 0.00% for TSLT.

What is the main difference between TSLL and TSLT?

They also come from different issuers: Direxion and T-Rex. Their fees differ too: 0.83% for TSLL and 1.05% for TSLT.

Which has better risk-adjusted returns?

TSLL currently has the higher Sharpe Ratio (-0.30 vs -0.33), 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.