TSLQ vs. TSLZ

Last updated Jun 23, 2026

TSLQ (Tradr 2X Short TSLA Daily ETF) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. Both are actively managed. Over the past year, TSLQ returned -62.10% vs -63.91% for TSLZ. With a 0.99 correlation, they move nearly in lockstep. TSLQ charges 1.17%/yr vs 1.05%/yr for TSLZ.

Performance

TSLQ vs. TSLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Short TSLA Daily ETF (TSLQ) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLQ achieves a 1.82% return, which is significantly higher than TSLZ's -0.13% return.

TSLQ

• 1D: -2.22%
• 1M: 6.08%
• YTD: 1.82%
• 6M: 19.91%
• 1Y: -62.10%
• 3Y*: -65.39%
• 5Y*: —
• 10Y*: —

TSLZ

• 1D: -2.07%
• 1M: 6.09%
• YTD: -0.13%
• 6M: 17.45%
• 1Y: -63.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLQ vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLQ Tradr 2X Short TSLA Daily ETF	1.82%	-74.67%	-83.21%	-4.87%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	-0.13%	-75.98%	-88.79%	-24.75%

Correlation

The correlation between TSLQ and TSLZ is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.99

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

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: 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

TSLZ

TSLZ Risk / Return Rank: 3
TSLZ Sharpe Ratio Rank: 3
TSLZ Sortino Ratio Rank: 3
TSLZ Omega Ratio Rank: 3
TSLZ Calmar Ratio Rank: 1
TSLZ Martin Ratio Rank: 3

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 Tradr 2X Short TSLA 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.

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	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.70	-0.73	+0.03
Sortino ratio: Return per unit of downside risk	-0.89	-0.99	+0.10
Omega ratio: Gain probability vs. loss probability	0.90	0.89	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.86	-0.88	+0.02
Martin ratio: Return relative to average drawdown	-1.11	-1.12	+0.01

TSLQ vs. TSLZ - Sharpe Ratio Comparison

The current TSLQ Sharpe Ratio is -0.70, which is comparable to the TSLZ Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of TSLQ and TSLZ, 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. 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	-72.21%	-72.88%	+0.67%
Max Drawdown (3Y) Largest decline over 3 years	-97.85%	—	—
Current Drawdown Current decline from peak	-98.48%	-98.95%	+0.47%
Average Drawdown Average peak-to-trough decline	-67.58%	-75.67%	+8.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.11%	57.09%	-0.98%

Volatility

TSLQ vs. TSLZ - Volatility Comparison

Tradr 2X Short TSLA Daily ETF (TSLQ) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) have volatilities of 25.56% and 25.49%, 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	25.56%	25.49%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	56.10%	56.21%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	88.72%	87.45%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.17%	116.74%	-22.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	94.17%	116.74%	-22.57%

TSLQ vs. TSLZ - Expense Ratio Comparison

TSLQ has a 1.17% expense ratio, which is higher than TSLZ's 1.05% expense ratio.

Dividends

TSLQ vs. TSLZ - Dividend Comparison

TSLQ's dividend yield for the trailing twelve months is around 10.38%, more than TSLZ's 0.69% yield.

Position	TTM	2025	2024	2023	2022
TSLQ Tradr 2X Short TSLA Daily ETF	10.38%	10.56%	4.95%	13.35%	2.56%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.69%	0.69%	2.08%	12.15%	0.00%

Frequently Asked Questions

Can I hold both TSLQ and TSLZ in my portfolio?

With a correlation of 1.00, TSLQ and TSLZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TSLQ or TSLZ?

TSLQ has higher volatility (25.56%) compared to TSLZ (25.49%). In terms of maximum drawdown, TSLQ dropped -98.73% vs TSLZ's -99.11%.

Which ETF is better, TSLQ or TSLZ?

On 1-year performance, TSLQ leads with -62.10% vs -63.91% for TSLZ. On fees, TSLZ is cheaper at 1.05% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLQ or TSLZ?

Over the 1-year period, TSLQ has performed better with a -62.10% return vs -63.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLQ or TSLZ?

TSLZ is cheaper with a 1.05% expense ratio, compared with 1.17% for TSLQ.

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

TSLQ has the higher dividend yield at 10.38%, compared with 0.69% for TSLZ.

What is the main difference between TSLQ and TSLZ?

They also come from different issuers: Tradr and T-Rex. Their fees differ too: 1.17% for TSLQ and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSLQ currently has the higher Sharpe Ratio (-0.70 vs -0.73), 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.