TSLQ vs. APPX

Last updated Jun 24, 2026

TSLQ (Tradr 2X Short TSLA Daily ETF) and APPX (Tradr 2X Long APP Daily ETF) are both exchange-traded funds - TSLQ is a Inverse Equities fund actively managed by Tradr, while APPX is a Leveraged Equities fund actively managed by Tradr. Both are actively managed. Over the past year, TSLQ returned -49.38% vs 0.90% for APPX. At a correlation of -0.28, they often move in opposite directions. TSLQ charges 1.17%/yr vs 1.30%/yr for APPX.

Performance

TSLQ vs. APPX - 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 APP Daily ETF (APPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLQ achieves a 13.60% return, which is significantly higher than APPX's -68.41% return.

TSLQ

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

APPX

• 1D: -0.77%
• 1M: -10.55%
• YTD: -68.41%
• 6M: -73.04%
• 1Y: 0.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLQ vs. APPX - Yearly Performance Comparison

	2026 (YTD)	2025
TSLQ Tradr 2X Short TSLA Daily ETF	13.60%	-79.83%
APPX Tradr 2X Long APP Daily ETF	-68.41%	344.96%

Correlation

The correlation between TSLQ and APPX is -0.30, 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	-0.30
Correlation (All Time) Calculated using the full available price history since Apr 25, 2025	-0.28

Return for Risk

TSLQ vs. APPX — 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

APPX

APPX Risk / Return Rank: 13
APPX Sharpe Ratio Rank: 9
APPX Sortino Ratio Rank: 20
APPX Omega Ratio Rank: 21
APPX Calmar Ratio Rank: 9
APPX Martin Ratio Rank: 9

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. APPX - 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 APP Daily ETF (APPX). 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	APPX	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	0.01	-0.57
Sortino ratio: Return per unit of downside risk	-0.47	1.04	-1.51
Omega ratio: Gain probability vs. loss probability	0.95	1.14	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.69	0.01	-0.70
Martin ratio: Return relative to average drawdown	-0.88	0.02	-0.90

TSLQ vs. APPX - Sharpe Ratio Comparison

The current TSLQ Sharpe Ratio is -0.56, which is lower than the APPX Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of TSLQ and APPX, 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

TSLQ vs. APPX - Drawdown Comparison

The maximum TSLQ drawdown since its inception was -98.73%, which is greater than APPX's maximum drawdown of -82.40%. Use the drawdown chart below to compare losses from any high point for TSLQ and APPX.

Drawdown Indicators

	TSLQ	APPX	Difference
Max Drawdown Largest peak-to-trough decline	-98.73%	-82.40%	-16.33%
Max Drawdown (1Y) Largest decline over 1 year	-72.21%	-82.40%	+10.19%
Max Drawdown (3Y) Largest decline over 3 years	-97.85%	—	—
Current Drawdown Current decline from peak	-98.31%	-75.43%	-22.88%
Average Drawdown Average peak-to-trough decline	-67.61%	-38.59%	-29.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.23%	49.87%	+6.36%

Volatility

TSLQ vs. APPX - Volatility Comparison

The current volatility for Tradr 2X Short TSLA Daily ETF (TSLQ) is 27.76%, while Tradr 2X Long APP Daily ETF (APPX) has a volatility of 41.31%. This indicates that TSLQ experiences smaller price fluctuations and is considered to be less risky than APPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLQ	APPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.76%	41.31%	-13.55%
Volatility (6M) Calculated over the trailing 6-month period	56.68%	122.50%	-65.82%
Volatility (1Y) Calculated over the trailing 1-year period	89.33%	141.33%	-52.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.31%	139.76%	-45.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.31%	139.76%	-45.45%

TSLQ vs. APPX - Expense Ratio Comparison

TSLQ has a 1.17% expense ratio, which is lower than APPX's 1.30% expense ratio.

Dividends

TSLQ vs. APPX - Dividend Comparison

TSLQ's dividend yield for the trailing twelve months is around 9.30%, less than APPX's 29.69% yield.

Position	TTM	2025	2024	2023	2022
APPX Tradr 2X Long APP Daily ETF	29.69%	9.38%	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 APPX in my portfolio?

TSLQ and APPX have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLQ or APPX?

APPX has higher volatility (41.31%) compared to TSLQ (27.76%). In terms of maximum drawdown, TSLQ dropped -98.73% vs APPX's -82.40%.

Which ETF is better, TSLQ or APPX?

On 1-year performance, APPX leads with 0.90% vs -49.38% for TSLQ. On fees, TSLQ is cheaper at 1.17% per year. On volatility, TSLQ has been the lower-risk option at 27.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLQ or APPX?

Over the 1-year period, APPX has performed better with a 0.90% return vs -49.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLQ or APPX?

TSLQ is cheaper with a 1.17% expense ratio, compared with 1.30% for APPX.

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

APPX has the higher dividend yield at 29.69%, compared with 9.30% for TSLQ.

What is the main difference between TSLQ and APPX?

TSLQ is categorized as Inverse Equities, while APPX is Leveraged Equities. Their fees differ too: 1.17% for TSLQ and 1.30% for APPX.

Which has better risk-adjusted returns?

APPX currently has the higher Sharpe Ratio (0.01 vs -0.56), 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.