TSLQ vs. AAOX

Last updated Jun 24, 2026

TSLQ (Tradr 2X Short TSLA Daily ETF) and AAOX (Tradr 2X Long AAOI Daily ETF) are both exchange-traded funds - TSLQ is a Inverse Equities fund actively managed by Tradr, while AAOX is a Leveraged Equities fund tracking the Applied Optoelectronics, Inc. (AAOI). TSLQ is actively managed, while AAOX is passively managed. At a correlation of -0.21, they often move in opposite directions. TSLQ charges 1.17%/yr vs 1.49%/yr for AAOX.

Performance

TSLQ vs. AAOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short TSLA Daily ETF (TSLQ) and Tradr 2X Long AAOI Daily ETF (AAOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TSLQ

• 1D: 11.57%
• 1M: 18.36%
• YTD: 13.60%
• 6M: 31.99%
• 1Y: -49.38%
• 3Y*: -64.10%
• 5Y*: —
• 10Y*: —

AAOX

• 1D: -27.29%
• 1M: -46.09%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLQ vs. AAOX - Yearly Performance Comparison

	2026 (YTD)
TSLQ Tradr 2X Short TSLA Daily ETF	-12.92%
AAOX Tradr 2X Long AAOI Daily ETF	26.50%

Correlation

The correlation between TSLQ and AAOX is -0.21, 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 (All Time) Calculated using the full available price history since Mar 24, 2026	-0.21

Return for Risk

TSLQ vs. AAOX — Risk / Return Rank

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

TSLQ

TSLQ Risk / Return Rank: 5
TSLQ Sharpe Ratio Rank: 4
TSLQ Sortino Ratio Rank: 5
TSLQ Omega Ratio Rank: 5
TSLQ Calmar Ratio Rank: 3
TSLQ Martin Ratio Rank: 5

AAOX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TSLQ vs. AAOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short TSLA Daily ETF (TSLQ) and Tradr 2X Long AAOI Daily ETF (AAOX). 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.

	TSLQ	AAOX	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	—	—
Sortino ratio: Return per unit of downside risk	-0.47	—	—
Omega ratio: Gain probability vs. loss probability	0.95	—	—
Calmar ratio: Return relative to maximum drawdown	-0.69	—	—
Martin ratio: Return relative to average drawdown	-0.88	—	—

Drawdowns

TSLQ vs. AAOX - Drawdown Comparison

The maximum TSLQ drawdown since its inception was -98.73%, which is greater than AAOX's maximum drawdown of -66.13%. Use the drawdown chart below to compare losses from any high point for TSLQ and AAOX.

Drawdown Indicators

	TSLQ	AAOX	Difference
Max Drawdown Largest peak-to-trough decline	-98.73%	-66.13%	-32.60%
Max Drawdown (1Y) Largest decline over 1 year	-72.21%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-97.85%	—	—
Current Drawdown Current decline from peak	-98.31%	-66.13%	-32.18%
Average Drawdown Average peak-to-trough decline	-67.61%	-26.70%	-40.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.23%	—	—

Volatility

Volatility by Period

	TSLQ	AAOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	56.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	89.33%	303.92%	-214.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.31%	303.92%	-209.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.31%	303.92%	-209.61%

TSLQ vs. AAOX - Expense Ratio Comparison

TSLQ has a 1.17% expense ratio, which is lower than AAOX's 1.49% expense ratio.

Dividends

TSLQ vs. AAOX - Dividend Comparison

TSLQ's dividend yield for the trailing twelve months is around 9.30%, while AAOX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
AAOX Tradr 2X Long AAOI Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%
TSLQ Tradr 2X Short TSLA Daily ETF	9.30%	10.56%	4.95%	13.35%	2.56%

Frequently Asked Questions

Can I hold both TSLQ and AAOX in my portfolio?

TSLQ and AAOX have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSLQ or AAOX?

On fees, TSLQ is cheaper at 1.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSLQ or AAOX?

TSLQ is cheaper with a 1.17% expense ratio, compared with 1.49% for AAOX.

Which ETF pays a higher dividend yield, TSLQ or AAOX?

TSLQ has the higher dividend yield at 9.30%, compared with 0.00% for AAOX.

What is the main difference between TSLQ and AAOX?

TSLQ is categorized as Inverse Equities, while AAOX is Leveraged Equities. Their fees differ too: 1.17% for TSLQ and 1.49% for AAOX.