TSLP vs. TSLY

Last updated Jun 24, 2026

TSLP (Kurv Yield Premium Strategy Tesla ETF) and TSLY (YieldMax TSLA Option Income Strategy ETF) are both exchange-traded funds - TSLP is a Derivative Income fund actively managed by Kurv, while TSLY is a Options Trading fund actively managed by YieldMax. Both are actively managed. Over the past year, TSLP returned 1.58% vs 15.73% for TSLY. With a 0.97 correlation, they move nearly in lockstep. TSLP charges 0.99%/yr vs 1.07%/yr for TSLY.

Performance

TSLP vs. TSLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Tesla ETF (TSLP) and YieldMax TSLA Option Income Strategy ETF (TSLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLP achieves a -18.90% return, which is significantly lower than TSLY's -9.17% return.

TSLP

• 1D: -6.26%
• 1M: -11.44%
• YTD: -18.90%
• 6M: -24.71%
• 1Y: 1.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLY

• 1D: -4.63%
• 1M: -8.15%
• YTD: -9.17%
• 6M: -14.89%
• 1Y: 15.73%
• 3Y*: 8.26%
• 5Y*: —
• 10Y*: —

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

TSLP vs. TSLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLP Kurv Yield Premium Strategy Tesla ETF	-18.90%	9.77%	41.53%	18.37%
TSLY YieldMax TSLA Option Income Strategy ETF	-9.17%	13.62%	27.83%	17.26%

Correlation

The correlation between TSLP and TSLY is 0.98 - 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	0.98
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.97

The correlation between TSLP and TSLY has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

TSLP vs. TSLY — Risk / Return Rank

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

TSLP

TSLP Risk / Return Rank: 9
TSLP Sharpe Ratio Rank: 9
TSLP Sortino Ratio Rank: 10
TSLP Omega Ratio Rank: 10
TSLP Calmar Ratio Rank: 9
TSLP Martin Ratio Rank: 9

TSLY

TSLY Risk / Return Rank: 16
TSLY Sharpe Ratio Rank: 15
TSLY Sortino Ratio Rank: 16
TSLY Omega Ratio Rank: 16
TSLY Calmar Ratio Rank: 18
TSLY Martin Ratio Rank: 17

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.

TSLP vs. TSLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Tesla ETF (TSLP) 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.

	TSLP	TSLY	Difference
Sharpe ratio: Return per unit of total volatility	0.04	0.44	-0.41
Sortino ratio: Return per unit of downside risk	0.34	0.83	-0.49
Omega ratio: Gain probability vs. loss probability	1.04	1.10	-0.06
Calmar ratio: Return relative to maximum drawdown	0.05	0.73	-0.68
Martin ratio: Return relative to average drawdown	0.11	1.73	-1.61

TSLP vs. TSLY - Sharpe Ratio Comparison

The current TSLP Sharpe Ratio is 0.04, which is lower than the TSLY Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of TSLP and TSLY, 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

TSLP vs. TSLY - Drawdown Comparison

The maximum TSLP drawdown since its inception was -46.00%, smaller than the maximum TSLY drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for TSLP and TSLY.

Drawdown Indicators

	TSLP	TSLY	Difference
Max Drawdown Largest peak-to-trough decline	-46.00%	-49.52%	+3.52%
Max Drawdown (1Y) Largest decline over 1 year	-32.00%	-21.64%	-10.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-49.52%	—
Current Drawdown Current decline from peak	-25.09%	-15.07%	-10.02%
Average Drawdown Average peak-to-trough decline	-15.82%	-19.87%	+4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.90%	9.28%	+4.62%

Volatility

TSLP vs. TSLY - Volatility Comparison

Kurv Yield Premium Strategy Tesla ETF (TSLP) has a higher volatility of 15.89% compared to YieldMax TSLA Option Income Strategy ETF (TSLY) at 12.37%. This indicates that TSLP'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.

Volatility by Period

	TSLP	TSLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.89%	12.37%	+3.52%
Volatility (6M) Calculated over the trailing 6-month period	30.80%	23.73%	+7.07%
Volatility (1Y) Calculated over the trailing 1-year period	42.02%	36.06%	+5.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.85%	45.52%	+3.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.85%	45.52%	+3.33%

TSLP vs. TSLY - Expense Ratio Comparison

TSLP has a 0.99% expense ratio, which is lower than TSLY's 1.07% expense ratio.

Dividends

TSLP vs. TSLY - Dividend Comparison

TSLP's dividend yield for the trailing twelve months is around 31.21%, less than TSLY's 89.48% yield.

Position	TTM	2025	2024	2023
TSLP Kurv Yield Premium Strategy Tesla ETF	31.21%	31.05%	21.82%	4.39%
TSLY YieldMax TSLA Option Income Strategy ETF	89.48%	91.19%	82.30%	76.47%

Frequently Asked Questions

Can I hold both TSLP and TSLY in my portfolio?

With a correlation of 0.98, TSLP 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.

Which is riskier, TSLP or TSLY?

TSLP has higher volatility (15.89%) compared to TSLY (12.37%). In terms of maximum drawdown, TSLP dropped -46.00% vs TSLY's -49.52%.

Which ETF is better, TSLP or TSLY?

On 1-year performance, TSLY leads with 15.73% vs 1.58% for TSLP. On fees, TSLP is cheaper at 0.99% per year. On volatility, TSLY has been the lower-risk option at 12.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLP or TSLY?

Over the 1-year period, TSLY has performed better with a 15.73% return vs 1.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLP or TSLY?

TSLP is cheaper with a 0.99% expense ratio, compared with 1.07% for TSLY.

Which ETF pays a higher dividend yield, TSLP or TSLY?

TSLY has the higher dividend yield at 89.48%, compared with 31.21% for TSLP.

What is the main difference between TSLP and TSLY?

TSLP is categorized as Derivative Income, while TSLY is Options Trading. They also come from different issuers: Kurv and YieldMax. Their fees differ too: 0.99% for TSLP and 1.07% for TSLY.

Which has better risk-adjusted returns?

TSLY currently has the higher Sharpe Ratio (0.44 vs 0.04), 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.