TSLQ vs. QQH
TSLQ (AXS TSLA Bear Daily ETF) and QQH (HCM Defender 100 Index ETF) are both exchange-traded funds - TSLQ is a Inverse Equities fund actively managed by AXS, while QQH is a Technology Equities fund tracking the HCM Defender 100 Index. TSLQ is actively managed, while QQH is passively managed. Over the past 3 years, TSLQ returned -67.70%/yr vs 25.69%/yr for QQH. At a correlation of -0.59, they often move in opposite directions. TSLQ charges 1.15%/yr vs 1.14%/yr for QQH.
Performance
TSLQ vs. QQH - Performance Comparison
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Returns By Period
In the year-to-date period, TSLQ achieves a -1.38% return, which is significantly lower than QQH's 13.91% return.
TSLQ
- 1D
- 2.46%
- 1M
- -16.62%
- YTD
- -1.38%
- 6M
- -1.74%
- 1Y
- -64.04%
- 3Y*
- -67.70%
- 5Y*
- —
- 10Y*
- —
QQH
- 1D
- -0.75%
- 1M
- 11.40%
- YTD
- 13.91%
- 6M
- 11.71%
- 1Y
- 38.58%
- 3Y*
- 25.69%
- 5Y*
- 14.91%
- 10Y*
- —
TSLQ vs. QQH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSLQ AXS TSLA Bear Daily ETF | -1.38% | -74.67% | -83.21% | -59.97% | 63.52% |
QQH HCM Defender 100 Index ETF | 13.91% | 15.66% | 33.64% | 48.05% | -7.85% |
Correlation
The correlation between TSLQ and QQH is -0.58, 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 | -0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2022 | -0.59 |
The correlation between TSLQ and QQH has been stable across timeframes, ranging from -0.60 to -0.58 - a consistent structural relationship.
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Return for Risk
TSLQ vs. QQH — Risk / Return Rank
TSLQ
QQH
TSLQ vs. QQH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AXS TSLA Bear Daily ETF (TSLQ) and HCM Defender 100 Index ETF (QQH). 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 | QQH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -3.36 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.31 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 2.40 | -3.24 |
| Martin ratioReturn relative to average drawdown | -1.07 | 6.52 | -7.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSLQ | QQH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.69 | 1.88 | -2.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.70 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.64 | 0.85 | -1.49 |
Drawdowns
TSLQ vs. QQH - Drawdown Comparison
The maximum TSLQ drawdown since its inception was -98.73%, which is greater than QQH's maximum drawdown of -41.87%. Use the drawdown chart below to compare losses from any high point for TSLQ and QQH.
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Drawdown Indicators
| TSLQ | QQH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.73% | -41.87% | -56.86% |
Max Drawdown (1Y)Largest decline over 1 year | -75.93% | -16.18% | -59.75% |
Max Drawdown (3Y)Largest decline over 3 years | -97.85% | -24.84% | -73.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.87% | — |
Current DrawdownCurrent decline from peak | -98.53% | -1.31% | -97.22% |
Average DrawdownAverage peak-to-trough decline | -67.22% | -12.93% | -54.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.81% | 5.93% | +53.88% |
Volatility
TSLQ vs. QQH - Volatility Comparison
AXS TSLA Bear Daily ETF (TSLQ) has a higher volatility of 24.20% compared to HCM Defender 100 Index ETF (QQH) at 6.07%. This indicates that TSLQ's price experiences larger fluctuations and is considered to be riskier than QQH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSLQ | QQH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.20% | 6.07% | +18.13% |
Volatility (6M)Calculated over the trailing 6-month period | 54.90% | 14.46% | +40.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 92.72% | 20.57% | +72.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.07% | 21.49% | +72.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.07% | 24.72% | +69.35% |
TSLQ vs. QQH - Expense Ratio Comparison
TSLQ has a 1.15% expense ratio, which is higher than QQH's 1.14% expense ratio.
Dividends
TSLQ vs. QQH - Dividend Comparison
TSLQ's dividend yield for the trailing twelve months is around 10.71%, more than QQH's 0.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
QQH HCM Defender 100 Index ETF | 0.19% | 0.21% | 0.24% | 0.27% | 0.00% | 0.00% | 0.00% | 0.21% |
TSLQ AXS TSLA Bear Daily ETF | 10.71% | 10.56% | 4.95% | 13.35% | 2.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSLQ and QQH have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLQ has higher volatility (24.20%) compared to QQH (6.07%). In terms of maximum drawdown, TSLQ dropped -98.73% vs QQH's -41.87%.
On 3-year performance, QQH leads with 25.69% vs -67.70% for TSLQ. On fees, QQH is cheaper at 1.14% per year. On volatility, QQH has been the lower-risk option at 6.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QQH has performed better with a 25.69% return vs -67.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQH is cheaper with a 1.14% expense ratio, compared with 1.15% for TSLQ.
TSLQ has the higher dividend yield at 10.71%, compared with 0.19% for QQH.
TSLQ is categorized as Inverse Equities, while QQH is Technology Equities. They also come from different issuers: AXS and Howard Capital Management. Their fees differ too: 1.15% for TSLQ and 1.14% for QQH.
QQH currently has the higher Sharpe Ratio (1.88 vs -0.69), 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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