TSLQ vs. TSLZ

Last updated Apr 2, 2026

Compare and contrast key facts about AXS TSLA Bear Daily ETF (TSLQ) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ).

TSLQ and TSLZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TSLQ is an actively managed fund by AXS. It was launched on Jul 13, 2022. TSLZ is an actively managed fund by T-Rex. It was launched on Oct 18, 2023.

Performance

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

TSLQ vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLQ AXS TSLA Bear Daily ETF	28.41%	-74.67%	-83.21%	-12.98%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	26.84%	-75.98%	-88.79%	-28.07%

Returns By Period

In the year-to-date period, TSLQ achieves a 28.41% return, which is significantly higher than TSLZ's 26.84% return.

TSLQ

• 1D: -5.16%
• 1M: 8.21%
• YTD: 28.41%
• 6M: 15.81%
• 1Y: -79.48%
• 3Y*: -65.58%
• 5Y*: —
• 10Y*: —

TSLZ

• 1D: -5.23%
• 1M: 7.73%
• YTD: 26.84%
• 6M: 12.94%
• 1Y: -80.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLQ vs. TSLZ - Expense Ratio Comparison

TSLQ has a 1.15% expense ratio, which is higher than TSLZ's 1.05% expense ratio.

TSLQ

AXS TSLA Bear Daily ETF

TSLZ

T-Rex 2X Inverse Tesla Daily Target ETF

Return for Risk

TSLQ vs. TSLZ — Risk / Return Rank

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

TSLQ

TSLQ Risk / Return Rank: 2
TSLQ Sharpe Ratio Rank: 2
TSLQ Sortino Ratio Rank: 1
TSLQ Omega Ratio Rank: 2
TSLQ Calmar Ratio Rank: 0
TSLQ Martin Ratio Rank: 4

TSLZ

TSLZ Risk / Return Rank: 2
TSLZ Sharpe Ratio Rank: 2
TSLZ Sortino Ratio Rank: 1
TSLZ Omega Ratio Rank: 1
TSLZ Calmar Ratio Rank: 0
TSLZ 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. TSLZ - 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 Tesla Daily Target ETF (TSLZ). 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	TSLZ	Difference
Sharpe ratio Return per unit of total volatility	-0.72	-0.73	+0.01
Sortino ratio Return per unit of downside risk	-1.10	-1.18	+0.07
Omega ratio Gain probability vs. loss probability	0.86	0.85	+0.01
Calmar ratio Return relative to maximum drawdown	-0.90	-0.91	+0.01
Martin ratio Return relative to average drawdown	-1.04	-1.05	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLQ vs. TSLZ - Sharpe Ratio Comparison

The current TSLQ Sharpe Ratio is -0.72, which is comparable to the TSLZ Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of TSLQ and TSLZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TSLQ	TSLZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.72	-0.73	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	-0.63	-0.66	+0.03

Correlation

The correlation between TSLQ and TSLZ is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TSLQ vs. TSLZ - Dividend Comparison

TSLQ's dividend yield for the trailing twelve months is around 8.23%, more than TSLZ's 0.54% yield.

	TTM	2025	2024	2023	2022
TSLQ AXS TSLA Bear Daily ETF	8.23%	10.56%	4.95%	13.35%	2.56%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.54%	0.69%	2.08%	12.15%	0.00%

Drawdowns

TSLQ vs. TSLZ - Drawdown Comparison

The maximum TSLQ drawdown since its inception was -98.73%, roughly equal to the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for TSLQ and TSLZ.

Drawdown Indicators

	TSLQ	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-98.73%	-99.11%	+0.38%
Max Drawdown (1Y) Largest decline over 1 year	-90.23%	-90.53%	+0.30%
Current Drawdown Current decline from peak	-98.09%	-98.67%	+0.58%
Average Drawdown Average peak-to-trough decline	-65.75%	-73.71%	+7.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	77.80%	78.12%	-0.32%

Volatility

TSLQ vs. TSLZ - Volatility Comparison

AXS TSLA Bear Daily ETF (TSLQ) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) have volatilities of 22.77% and 22.93%, 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	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.77%	22.93%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	59.66%	58.42%	+1.24%
Volatility (1Y) Calculated over the trailing 1-year period	110.69%	110.05%	+0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.60%	119.08%	-24.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.60%	119.08%	-24.48%