TSLL vs. TSLY
TSLL (Direxion Daily TSLA Bull 2X ETF) and TSLY (YieldMax TSLA Option Income Strategy ETF) are both exchange-traded funds - TSLL is a Leveraged Equities fund actively managed by Direxion, while TSLY is a Options Trading fund actively managed by YieldMax. Both are actively managed. Over the past 3 years, TSLL returned -4.62%/yr vs 9.46%/yr for TSLY. With a 0.97 correlation, they move nearly in lockstep. TSLL charges 0.83%/yr vs 1.07%/yr for TSLY.
Performance
TSLL vs. TSLY - Performance Comparison
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Returns By Period
In the year-to-date period, TSLL achieves a -30.60% return, which is significantly lower than TSLY's -5.61% return.
TSLL
- 1D
- 1.86%
- 1M
- -13.76%
- YTD
- -30.60%
- 6M
- -39.72%
- 1Y
- 12.29%
- 3Y*
- -4.62%
- 5Y*
- —
- 10Y*
- —
TSLY
- 1D
- 1.01%
- 1M
- -4.55%
- YTD
- -5.61%
- 6M
- -10.38%
- 1Y
- 26.91%
- 3Y*
- 9.46%
- 5Y*
- —
- 10Y*
- —
TSLL vs. TSLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSLL Direxion Daily TSLA Bull 2X ETF | -30.60% | -26.80% | 99.63% | 139.86% | -40.34% |
TSLY YieldMax TSLA Option Income Strategy ETF | -5.61% | 13.62% | 27.83% | 50.69% | -27.09% |
Correlation
The correlation between TSLL and TSLY is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022 | 0.97 |
The correlation between TSLL and TSLY has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
TSLL vs. TSLY — Risk / Return Rank
TSLL
TSLY
TSLL vs. TSLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bull 2X ETF (TSLL) and YieldMax TSLA Option Income Strategy ETF (TSLY). 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 | TSLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.15 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 1.27 | -1.05 |
| Martin ratioReturn relative to average drawdown | 0.44 | 2.98 | -2.54 |
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Drawdowns
TSLL vs. TSLY - Drawdown Comparison
The maximum TSLL drawdown since its inception was -82.88%, which is greater than TSLY's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for TSLL and TSLY.
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Drawdown Indicators
| TSLL | TSLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.88% | -49.52% | -33.36% |
Max Drawdown (1Y)Largest decline over 1 year | -54.75% | -21.64% | -33.11% |
Max Drawdown (3Y)Largest decline over 3 years | -82.88% | -49.52% | -33.36% |
Current DrawdownCurrent decline from peak | -64.96% | -11.75% | -53.21% |
Average DrawdownAverage peak-to-trough decline | -53.89% | -19.88% | -34.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.50% | 9.21% | +18.29% |
Volatility
TSLL vs. TSLY - Volatility Comparison
Direxion Daily TSLA Bull 2X ETF (TSLL) has a higher volatility of 26.80% compared to YieldMax TSLA Option Income Strategy ETF (TSLY) at 11.84%. This indicates that TSLL's price experiences larger fluctuations and is considered to be riskier than TSLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSLL | TSLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.80% | 11.84% | +14.96% |
Volatility (6M)Calculated over the trailing 6-month period | 56.55% | 23.70% | +32.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.23% | 35.78% | +52.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 106.82% | 45.50% | +61.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 106.82% | 45.50% | +61.32% |
TSLL vs. TSLY - Expense Ratio Comparison
TSLL has a 0.83% expense ratio, which is lower than TSLY's 1.07% expense ratio.
Dividends
TSLL vs. TSLY - Dividend Comparison
TSLL's dividend yield for the trailing twelve months is around 7.37%, less than TSLY's 86.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TSLL Direxion Daily TSLA Bull 2X ETF | 7.37% | 5.00% | 2.47% | 4.44% | 1.57% |
TSLY YieldMax TSLA Option Income Strategy ETF | 86.10% | 91.19% | 82.30% | 76.47% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, TSLL and TSLY 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.
TSLL has higher volatility (26.80%) compared to TSLY (11.84%). In terms of maximum drawdown, TSLL dropped -82.88% vs TSLY's -49.52%.
On 3-year performance, TSLY leads with 9.46% vs -4.62% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLY has been the lower-risk option at 11.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLY has performed better with a 9.46% return vs -4.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLL is cheaper with a 0.83% expense ratio, compared with 1.07% for TSLY.
TSLY has the higher dividend yield at 86.10%, compared with 7.37% for TSLL.
TSLL is categorized as Leveraged Equities, while TSLY is Options Trading. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 0.83% for TSLL and 1.07% for TSLY.
TSLY currently has the higher Sharpe Ratio (0.77 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.
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