TSLQ vs. TSLL

Last updated Jun 19, 2026

TSLQ (Tradr 2X Short TSLA Daily ETF) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - TSLQ is a Inverse Equities fund actively managed by Tradr, while TSLL is a Leveraged Equities fund actively managed by Direxion. Both are actively managed. Over the past 3 years, TSLQ returned -65.02%/yr vs -4.62%/yr for TSLL. At a correlation of -0.99, they often move in opposite directions. TSLQ charges 1.17%/yr vs 0.83%/yr for TSLL.

Performance

TSLQ vs. TSLL - Performance Comparison

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

Returns By Period

In the year-to-date period, TSLQ achieves a 4.13% return, which is significantly higher than TSLL's -30.60% return.

TSLQ

• 1D: -1.97%
• 1M: -2.63%
• YTD: 4.13%
• 6M: 19.83%
• 1Y: -61.24%
• 3Y*: -65.02%
• 5Y*: —
• 10Y*: —

TSLL

• 1D: 1.86%
• 1M: -4.57%
• YTD: -30.60%
• 6M: -40.34%
• 1Y: 12.20%
• 3Y*: -4.62%
• 5Y*: —
• 10Y*: —

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

TSLQ vs. TSLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TSLQ Tradr 2X Short TSLA Daily ETF	4.13%	-74.67%	-83.21%	-59.97%	105.75%
TSLL Direxion Daily TSLA Bull 2X ETF	-30.60%	-26.80%	99.63%	139.86%	-74.99%

Correlation

The correlation between TSLQ and TSLL is -1.00, 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	-1.00
Correlation (3Y) Calculated over the trailing 3-year period	-0.99
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022	-0.99

The correlation between TSLQ and TSLL has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.

Return for Risk

TSLQ vs. TSLL — 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: 4
TSLQ Sortino Ratio Rank: 4
TSLQ Omega Ratio Rank: 4
TSLQ Calmar Ratio Rank: 2
TSLQ Martin Ratio Rank: 4

TSLL

TSLL Risk / Return Rank: 12
TSLL Sharpe Ratio Rank: 10
TSLL Sortino Ratio Rank: 16
TSLL Omega Ratio Rank: 15
TSLL Calmar Ratio Rank: 11
TSLL Martin Ratio Rank: 10

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. TSLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Short TSLA Daily ETF (TSLQ) and Direxion Daily TSLA Bull 2X ETF (TSLL). 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	TSLL	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	0.14	-0.83
Sortino ratio: Return per unit of downside risk	-0.86	0.84	-1.69
Omega ratio: Gain probability vs. loss probability	0.91	1.10	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.85	0.22	-1.07
Martin ratio: Return relative to average drawdown	-1.09	0.44	-1.54

TSLQ vs. TSLL - Sharpe Ratio Comparison

The current TSLQ Sharpe Ratio is -0.69, which is lower than the TSLL Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of TSLQ and TSLL, 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. TSLL - Drawdown Comparison

The maximum TSLQ drawdown since its inception was -98.73%, which is greater than TSLL's maximum drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for TSLQ and TSLL.

Drawdown Indicators

	TSLQ	TSLL	Difference
Max Drawdown Largest peak-to-trough decline	-98.73%	-82.88%	-15.85%
Max Drawdown (1Y) Largest decline over 1 year	-72.21%	-54.75%	-17.46%
Max Drawdown (3Y) Largest decline over 3 years	-97.85%	-82.88%	-14.97%
Current Drawdown Current decline from peak	-98.45%	-64.96%	-33.49%
Average Drawdown Average peak-to-trough decline	-67.55%	-53.89%	-13.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.95%	27.50%	+28.45%

Volatility

TSLQ vs. TSLL - Volatility Comparison

Tradr 2X Short TSLA Daily ETF (TSLQ) and Direxion Daily TSLA Bull 2X ETF (TSLL) have volatilities of 26.35% and 26.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLQ	TSLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.35%	26.80%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	56.72%	56.55%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	88.59%	88.23%	+0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.21%	106.82%	-12.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.21%	106.82%	-12.61%

TSLQ vs. TSLL - Expense Ratio Comparison

TSLQ has a 1.17% expense ratio, which is higher than TSLL's 0.83% expense ratio.

Dividends

TSLQ vs. TSLL - Dividend Comparison

TSLQ's dividend yield for the trailing twelve months is around 10.15%, more than TSLL's 7.37% yield.

Position	TTM	2025	2024	2023	2022
TSLL Direxion Daily TSLA Bull 2X ETF	7.37%	5.00%	2.47%	4.44%	1.57%
TSLQ Tradr 2X Short TSLA Daily ETF	10.15%	10.56%	4.95%	13.35%	2.56%

Frequently Asked Questions

Can I hold both TSLQ and TSLL in my portfolio?

TSLQ and TSLL have a correlation of -1.00, 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 TSLL?

TSLL has higher volatility (26.80%) compared to TSLQ (26.35%). In terms of maximum drawdown, TSLQ dropped -98.73% vs TSLL's -82.88%.

Which ETF is better, TSLQ or TSLL?

On 3-year performance, TSLL leads with -4.62% vs -65.02% for TSLQ. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLQ has been the lower-risk option at 26.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLQ or TSLL?

Over the 3-year period, TSLL has performed better with a -4.62% return vs -65.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLQ or TSLL?

TSLL is cheaper with a 0.83% expense ratio, compared with 1.17% for TSLQ.

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

TSLQ has the higher dividend yield at 10.15%, compared with 7.37% for TSLL.

What is the main difference between TSLQ and TSLL?

TSLQ is categorized as Inverse Equities, while TSLL is Leveraged Equities. They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.17% for TSLQ and 0.83% for TSLL.

Which has better risk-adjusted returns?

TSLL currently has the higher Sharpe Ratio (0.14 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.