TSLQ vs. CRCD

Last updated Jun 5, 2026

TSLQ (AXS TSLA Bear Daily ETF) and CRCD (T-REX 2X Inverse CRCL Daily Target ETF) are both Inverse Equities funds. Both are actively managed. At a 0.31 correlation, their price movements are largely independent. TSLQ charges 1.15%/yr vs 1.50%/yr for CRCD.

Performance

TSLQ vs. CRCD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AXS TSLA Bear Daily ETF (TSLQ) and T-REX 2X Inverse CRCL Daily Target ETF (CRCD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLQ achieves a -1.38% return, which is significantly higher than CRCD's -88.04% return.

TSLQ

• 1D: 2.46%
• 1M: -16.62%
• YTD: -1.38%
• 6M: -1.74%
• 1Y: -64.04%
• 3Y*: -67.70%
• 5Y*: —
• 10Y*: —

CRCD

• 1D: -0.24%
• 1M: 24.92%
• YTD: -88.04%
• 6M: -87.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLQ vs. CRCD - Yearly Performance Comparison

	2026 (YTD)	2025
TSLQ AXS TSLA Bear Daily ETF	-1.38%	-17.30%
CRCD T-REX 2X Inverse CRCL Daily Target ETF	-88.04%	43.19%

Correlation

The correlation between TSLQ and CRCD is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	0.31

Return for Risk

TSLQ vs. CRCD — Risk / Return Rank

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

TSLQ

TSLQ Risk / Return Rank: 3
TSLQ Sharpe Ratio Rank: 3
TSLQ Sortino Ratio Rank: 3
TSLQ Omega Ratio Rank: 4
TSLQ Calmar Ratio Rank: 2
TSLQ Martin Ratio Rank: 4

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. CRCD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AXS TSLA Bear Daily ETF (TSLQ) and T-REX 2X Inverse CRCL Daily Target ETF (CRCD). 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.

	TSLQ	CRCD	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	—	—
Sortino ratio: Return per unit of downside risk	-0.92	—	—
Omega ratio: Gain probability vs. loss probability	0.90	—	—
Calmar ratio: Return relative to maximum drawdown	-0.85	—	—
Martin ratio: Return relative to average drawdown	-1.07	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TSLQ	CRCD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.64	-0.45	-0.19

Drawdowns

TSLQ vs. CRCD - Drawdown Comparison

The maximum TSLQ drawdown since its inception was -98.73%, roughly equal to the maximum CRCD drawdown of -96.95%. Use the drawdown chart below to compare losses from any high point for TSLQ and CRCD.

Drawdown Indicators

	TSLQ	CRCD	Difference
Max Drawdown Largest peak-to-trough decline	-98.73%	-96.95%	-1.78%
Max Drawdown (1Y) Largest decline over 1 year	-75.93%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-97.85%	—	—
Current Drawdown Current decline from peak	-98.53%	-94.33%	-4.20%
Average Drawdown Average peak-to-trough decline	-67.22%	-54.75%	-12.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.81%	—	—

Volatility

Volatility by Period

	TSLQ	CRCD	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.20%	—	—
Volatility (6M) Calculated over the trailing 6-month period	54.90%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	92.72%	203.94%	-111.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.07%	203.94%	-109.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.07%	203.94%	-109.87%

TSLQ vs. CRCD - Expense Ratio Comparison

TSLQ has a 1.15% expense ratio, which is lower than CRCD's 1.50% expense ratio.

Dividends

TSLQ vs. CRCD - Dividend Comparison

TSLQ's dividend yield for the trailing twelve months is around 10.71%, while CRCD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CRCD T-REX 2X Inverse CRCL Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%
TSLQ AXS TSLA Bear Daily ETF	10.71%	10.56%	4.95%	13.35%	2.56%

Frequently Asked Questions

Can I hold both TSLQ and CRCD in my portfolio?

TSLQ and CRCD have a correlation of 0.31, 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 CRCD?

On fees, TSLQ is cheaper at 1.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSLQ or CRCD?

TSLQ is cheaper with a 1.15% expense ratio, compared with 1.50% for CRCD.

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

TSLQ has the higher dividend yield at 10.71%, compared with 0.00% for CRCD.

What is the main difference between TSLQ and CRCD?

They also come from different issuers: AXS and T-Rex. Their fees differ too: 1.15% for TSLQ and 1.50% for CRCD.