TSLQ vs. QTOP

Last updated Aug 6, 2026

TSLQ (Tradr 2X Short TSLA Daily ETF) and QTOP (iShares Nasdaq Top 30 Stocks ETF) are both exchange-traded funds - TSLQ is a Inverse Equities fund actively managed by Tradr, while QTOP is a Nasdaq-100 fund tracking the Nasdaq-100 Top 30 Index. TSLQ is actively managed, while QTOP is passively managed. Over the past year, TSLQ returned -47.66% vs 30.13% for QTOP. Their -0.66 correlation means they have often moved in opposite directions in the past. TSLQ charges 1.17%/yr vs 0.20%/yr for QTOP.

Performance

TSLQ vs. QTOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short TSLA Daily ETF (TSLQ) and iShares Nasdaq Top 30 Stocks ETF (QTOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLQ achieves a 39.32% return, which is significantly higher than QTOP's 17.52% return.

TSLQ

• 1D: 3.69%
• 1M: 56.37%
• 6M: 17.46%
• YTD: 39.32%
• 1Y: -47.66%
• 3Y*: -61.47%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -55.25%

QTOP

• 1D: -1.00%
• 1M: -0.82%
• 6M: 19.91%
• YTD: 17.52%
• 1Y: 30.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QTOP iShares Nasdaq Top 30 Stocks ETF	$6.62M	$5.91M	$6.98M
TSLQ Tradr 2X Short TSLA Daily ETF	$162.68M	$136.02M	$157.68M

TSLQ vs. QTOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLQ Tradr 2X Short TSLA Daily ETF	39.32%	-74.67%	-82.45%
QTOP iShares Nasdaq Top 30 Stocks ETF	17.52%	22.19%	6.25%

Correlation

The correlation between TSLQ and QTOP is -0.68, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.68
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	-0.66

The correlation between TSLQ and QTOP has been stable across timeframes, ranging from -0.68 to -0.66 - a consistent structural relationship.

Return for Risk

TSLQ vs. QTOP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSLQ

TSLQ Risk / Return Rank: 5
TSLQ Sharpe Ratio Rank: 5
TSLQ Sortino Ratio Rank: 6
TSLQ Omega Ratio Rank: 6
TSLQ Calmar Ratio Rank: 3
TSLQ Martin Ratio Rank: 5

QTOP

QTOP Risk / Return Rank: 51
QTOP Sharpe Ratio Rank: 49
QTOP Sortino Ratio Rank: 48
QTOP Omega Ratio Rank: 46
QTOP Calmar Ratio Rank: 58
QTOP Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSLQ vs. QTOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short TSLA Daily ETF (TSLQ) and iShares Nasdaq Top 30 Stocks ETF (QTOP). 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	QTOP	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	1.40	-1.92
Sortino ratio: Return per unit of downside risk	-0.34	1.96	-2.31
Omega ratio: Gain probability vs. loss probability	0.96	1.25	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.73	2.32	-3.05
Martin ratio: Return relative to average drawdown	-0.93	7.17	-8.10

TSLQ vs. QTOP - Sharpe Ratio Comparison

The current TSLQ Sharpe Ratio is -0.52, which is lower than the QTOP Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of TSLQ and QTOP, 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. QTOP - Drawdown Comparison

The maximum TSLQ drawdown since its inception was -98.73%, which is greater than QTOP's maximum drawdown of -23.28%. Use the drawdown chart below to compare losses from any high point for TSLQ and QTOP.

Drawdown Indicators

	TSLQ	QTOP	Difference
Max Drawdown Largest peak-to-trough decline	-98.73%	-23.28%	-75.45%
Max Drawdown (1Y) Largest decline over 1 year	-65.58%	-13.02%	-52.56%
Max Drawdown (3Y) Largest decline over 3 years	-97.85%	—	—
Current Drawdown Current decline from peak	-97.92%	-4.43%	-93.49%
Average Drawdown Average peak-to-trough decline	-68.51%	-3.93%	-64.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	54.47%	4.21%	+50.26%

Volatility

TSLQ vs. QTOP - Volatility Comparison

Tradr 2X Short TSLA Daily ETF (TSLQ) has a higher volatility of 31.97% compared to iShares Nasdaq Top 30 Stocks ETF (QTOP) at 8.83%. This indicates that TSLQ's price experiences larger fluctuations and is considered to be riskier than QTOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLQ	QTOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.97%	8.83%	+23.14%
Volatility (6M) Calculated over the trailing 6-month period	67.43%	18.31%	+49.12%
Volatility (1Y) Calculated over the trailing 1-year period	92.65%	21.59%	+71.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.59%	23.91%	+71.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.59%	23.91%	+71.68%

TSLQ vs. QTOP - Expense Ratio Comparison

TSLQ has a 1.17% expense ratio, which is higher than QTOP's 0.20% expense ratio.

Dividends

TSLQ vs. QTOP - Dividend Comparison

TSLQ's dividend yield for the trailing twelve months is around 7.58%, more than QTOP's 0.33% yield.

Position	TTM	2025	2024	2023	2022
QTOP iShares Nasdaq Top 30 Stocks ETF	0.33%	0.38%	0.11%	0.00%	0.00%
TSLQ Tradr 2X Short TSLA Daily ETF	7.58%	10.56%	4.95%	13.35%	2.56%

Frequently Asked Questions

Can I hold both TSLQ and QTOP in my portfolio?

TSLQ and QTOP have a correlation of -0.68, 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 QTOP?

TSLQ has higher volatility (31.97%) compared to QTOP (8.83%). In terms of maximum drawdown, TSLQ dropped -98.73% vs QTOP's -23.28%.

Which ETF is better, TSLQ or QTOP?

On 1-year performance, QTOP leads with 30.13% vs -47.66% for TSLQ. On fees, QTOP is cheaper at 0.20% per year. On volatility, QTOP has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLQ or QTOP?

Over the 1-year period, QTOP has performed better with a 30.13% return vs -47.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLQ or QTOP?

QTOP is cheaper with a 0.20% expense ratio, compared with 1.17% for TSLQ.

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

TSLQ has the higher dividend yield at 7.58%, compared with 0.33% for QTOP.

What is the main difference between TSLQ and QTOP?

TSLQ is categorized as Inverse Equities, while QTOP is Nasdaq-100. They also come from different issuers: Tradr and iShares. Their fees differ too: 1.17% for TSLQ and 0.20% for QTOP.

Which has better risk-adjusted returns?

QTOP currently has the higher Sharpe Ratio (1.40 vs -0.52), 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.