TSLL vs. WNTR
TSLL (Direxion Daily TSLA Bull 2X ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - TSLL is a Leveraged Equities fund actively managed by Direxion, while WNTR is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, TSLL returned 7.23% vs 127.90% for WNTR. At a correlation of -0.41, they often move in opposite directions. TSLL charges 0.83%/yr vs 1.01%/yr for WNTR.
Performance
TSLL vs. WNTR - Performance Comparison
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Returns By Period
In the year-to-date period, TSLL achieves a -36.12% return, which is significantly lower than WNTR's 9.49% return.
TSLL
- 1D
- -1.64%
- 1M
- -9.93%
- 6M
- -32.10%
- YTD
- -36.12%
- 1Y
- 7.23%
- 3Y*
- -11.73%
- 5Y*
- —
- 10Y*
- —
WNTR
- 1D
- 2.96%
- 1M
- 17.94%
- 6M
- 21.62%
- YTD
- 9.49%
- 1Y
- 127.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSLL vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TSLL Direxion Daily TSLA Bull 2X ETF | -36.12% | 89.56% |
WNTR YieldMax Short MSTR Option Income Strategy ETF | 9.49% | 52.78% |
Correlation
The correlation between TSLL and WNTR is -0.39, 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 | -0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.41 |
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Return for Risk
TSLL vs. WNTR — Risk / Return Rank
TSLL
WNTR
TSLL vs. WNTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bull 2X ETF (TSLL) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). 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 | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.35 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | 3.02 | -2.88 |
| Martin ratioReturn relative to average drawdown | 0.25 | 7.72 | -7.47 |
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Drawdowns
TSLL vs. WNTR - Drawdown Comparison
The maximum TSLL drawdown since its inception was -82.88%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for TSLL and WNTR.
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Drawdown Indicators
| TSLL | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.88% | -42.65% | -40.23% |
Max Drawdown (1Y)Largest decline over 1 year | -54.75% | -42.65% | -12.10% |
Max Drawdown (3Y)Largest decline over 3 years | -82.88% | — | — |
Current DrawdownCurrent decline from peak | -67.74% | -10.67% | -57.07% |
Average DrawdownAverage peak-to-trough decline | -54.11% | -20.46% | -33.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.95% | 16.63% | +12.32% |
Volatility
TSLL vs. WNTR - Volatility Comparison
Direxion Daily TSLA Bull 2X ETF (TSLL) has a higher volatility of 33.55% compared to YieldMax Short MSTR Option Income Strategy ETF (WNTR) at 17.89%. This indicates that TSLL's price experiences larger fluctuations and is considered to be riskier than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSLL | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.55% | 17.89% | +15.66% |
Volatility (6M)Calculated over the trailing 6-month period | 62.28% | 47.05% | +15.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 89.11% | 53.81% | +35.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 107.11% | 53.49% | +53.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 107.11% | 53.49% | +53.62% |
TSLL vs. WNTR - Expense Ratio Comparison
TSLL has a 0.83% expense ratio, which is lower than WNTR's 1.01% expense ratio.
Dividends
TSLL vs. WNTR - Dividend Comparison
TSLL's dividend yield for the trailing twelve months is around 8.20%, less than WNTR's 106.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TSLL Direxion Daily TSLA Bull 2X ETF | 8.20% | 5.00% | 2.47% | 4.44% | 1.57% |
WNTR YieldMax Short MSTR Option Income Strategy ETF | 106.86% | 58.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSLL and WNTR have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLL has higher volatility (33.55%) compared to WNTR (17.89%). In terms of maximum drawdown, TSLL dropped -82.88% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 127.90% vs 7.23% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, WNTR has been the lower-risk option at 17.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, WNTR has performed better with a 127.90% return vs 7.23%. 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 1.01% for WNTR.
WNTR has the higher dividend yield at 106.86%, compared with 8.20% for TSLL.
TSLL is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 0.83% for TSLL and 1.01% for WNTR.
WNTR currently has the higher Sharpe Ratio (2.39 vs 0.08), 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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