TSLL vs. TSLZ
TSLL (Direxion Daily TSLA Bull 2X ETF) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both exchange-traded funds - TSLL is a Leveraged Equities fund actively managed by Direxion, while TSLZ is a Inverse Equities fund actively managed by T-Rex. Both are actively managed. Over the past year, TSLL returned 12.29% vs -63.15% for TSLZ. At a correlation of -1.00, they often move in opposite directions. TSLL charges 0.83%/yr vs 1.05%/yr for TSLZ.
Performance
TSLL vs. TSLZ - 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 TSLZ's 1.98% return.
TSLL
- 1D
- 1.86%
- 1M
- -13.76%
- YTD
- -30.60%
- 6M
- -39.72%
- 1Y
- 12.29%
- 3Y*
- -4.62%
- 5Y*
- —
- 10Y*
- —
TSLZ
- 1D
- -2.02%
- 1M
- 8.33%
- YTD
- 1.98%
- 6M
- 16.16%
- 1Y
- -63.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSLL vs. TSLZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TSLL Direxion Daily TSLA Bull 2X ETF | -30.60% | -26.80% | 99.63% | 0.60% |
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF | 1.98% | -75.98% | -88.79% | -24.75% |
Correlation
The correlation between TSLL and TSLZ is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -1.00 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023 | -1.00 |
The correlation between TSLL and TSLZ has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.
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Return for Risk
TSLL vs. TSLZ — Risk / Return Rank
TSLL
TSLZ
TSLL vs. TSLZ - 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 Inverse Tesla Daily Target ETF (TSLZ). 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 | TSLZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.89 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | -0.87 | +1.09 |
| Martin ratioReturn relative to average drawdown | 0.44 | -1.11 | +1.55 |
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Drawdowns
TSLL vs. TSLZ - Drawdown Comparison
The maximum TSLL drawdown since its inception was -82.88%, smaller than the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for TSLL and TSLZ.
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Drawdown Indicators
| TSLL | TSLZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.88% | -99.11% | +16.23% |
Max Drawdown (1Y)Largest decline over 1 year | -54.75% | -72.88% | +18.13% |
Max Drawdown (3Y)Largest decline over 3 years | -82.88% | — | — |
Current DrawdownCurrent decline from peak | -64.96% | -98.93% | +33.97% |
Average DrawdownAverage peak-to-trough decline | -53.89% | -75.63% | +21.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.50% | 56.93% | -29.43% |
Volatility
TSLL vs. TSLZ - Volatility Comparison
Direxion Daily TSLA Bull 2X ETF (TSLL) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) have volatilities of 26.80% and 26.29%, 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.
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Volatility by Period
| TSLL | TSLZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.80% | 26.29% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 56.55% | 56.82% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.23% | 87.33% | +0.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 106.82% | 116.82% | -10.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 106.82% | 116.82% | -10.00% |
TSLL vs. TSLZ - Expense Ratio Comparison
TSLL has a 0.83% expense ratio, which is lower than TSLZ's 1.05% expense ratio.
Dividends
TSLL vs. TSLZ - Dividend Comparison
TSLL's dividend yield for the trailing twelve months is around 7.37%, more than TSLZ's 0.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TSLL Direxion Daily TSLA Bull 2X ETF | 7.37% | 5.00% | 2.47% | 4.44% | 1.57% |
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF | 0.67% | 0.69% | 2.08% | 12.15% | 0.00% |
Frequently Asked Questions
TSLL and TSLZ have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLL has higher volatility (26.80%) compared to TSLZ (26.29%). In terms of maximum drawdown, TSLL dropped -82.88% vs TSLZ's -99.11%.
On 1-year performance, TSLL leads with 12.29% vs -63.15% for TSLZ. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLZ has been the lower-risk option at 26.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TSLL has performed better with a 12.29% return vs -63.15%. 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 1.05% for TSLZ.
TSLL has the higher dividend yield at 7.37%, compared with 0.67% for TSLZ.
TSLL is categorized as Leveraged Equities, while TSLZ is Inverse Equities. They also come from different issuers: Direxion and T-Rex. Their fees differ too: 0.83% for TSLL and 1.05% for TSLZ.
TSLL currently has the higher Sharpe Ratio (0.14 vs -0.72), 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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