TSLR vs. AAPB

Last updated Jun 4, 2026

TSLR (GraniteShares 2x Long TSLA Daily ETF) and AAPB (GraniteShares 2x Long AAPL Daily ETF) are both Leveraged Equities funds from GraniteShares. Both are actively managed. Over the past year, TSLR returned 8.94% vs 106.72% for AAPB. At a 0.36 correlation, their price movements are largely independent. TSLR charges 1.50%/yr vs 1.15%/yr for AAPB.

Performance

TSLR vs. AAPB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long TSLA Daily ETF (TSLR) and GraniteShares 2x Long AAPL Daily ETF (AAPB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLR achieves a -20.05% return, which is significantly lower than AAPB's 23.70% return.

TSLR

• 1D: -0.17%
• 1M: 13.88%
• YTD: -20.05%
• 6M: -20.52%
• 1Y: 8.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAPB

• 1D: -3.30%
• 1M: 24.81%
• YTD: 23.70%
• 6M: 12.69%
• 1Y: 106.72%
• 3Y*: 23.23%
• 5Y*: —
• 10Y*: —

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

TSLR vs. AAPB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLR GraniteShares 2x Long TSLA Daily ETF	-20.05%	-25.97%	67.57%	1.69%
AAPB GraniteShares 2x Long AAPL Daily ETF	23.70%	-0.93%	47.02%	10.39%

Correlation

The correlation between TSLR and AAPB is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Aug 23, 2023	0.36

TSLR vs. AAPB - Sectors Allocation Comparison

Sectors	TSLR	AAPB
Consumer Cyclical	66.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	66.7%
Utilities	-	-

Return for Risk

TSLR vs. AAPB — Risk / Return Rank

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

TSLR

TSLR Risk / Return Rank: 12
TSLR Sharpe Ratio Rank: 10
TSLR Sortino Ratio Rank: 16
TSLR Omega Ratio Rank: 16
TSLR Calmar Ratio Rank: 10
TSLR Martin Ratio Rank: 10

AAPB

AAPB Risk / Return Rank: 66
AAPB Sharpe Ratio Rank: 72
AAPB Sortino Ratio Rank: 64
AAPB Omega Ratio Rank: 63
AAPB Calmar Ratio Rank: 75
AAPB Martin Ratio Rank: 53

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.

TSLR vs. AAPB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long TSLA Daily ETF (TSLR) and GraniteShares 2x Long AAPL Daily ETF (AAPB). 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.

	TSLR	AAPB	Difference
Sharpe ratio: Return per unit of total volatility	0.10	2.40	-2.30
Sortino ratio: Return per unit of downside risk	0.80	3.02	-2.22
Omega ratio: Gain probability vs. loss probability	1.10	1.39	-0.29
Calmar ratio: Return relative to maximum drawdown	0.17	3.82	-3.65
Martin ratio: Return relative to average drawdown	0.34	9.20	-8.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLR vs. AAPB - Sharpe Ratio Comparison

The current TSLR Sharpe Ratio is 0.10, which is lower than the AAPB Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of TSLR and AAPB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TSLR	AAPB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	2.40	-2.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.38	-0.38

Drawdowns

TSLR vs. AAPB - Drawdown Comparison

The maximum TSLR drawdown since its inception was -82.80%, which is greater than AAPB's maximum drawdown of -58.13%. Use the drawdown chart below to compare losses from any high point for TSLR and AAPB.

Drawdown Indicators

	TSLR	AAPB	Difference
Max Drawdown Largest peak-to-trough decline	-82.80%	-58.13%	-24.67%
Max Drawdown (1Y) Largest decline over 1 year	-54.37%	-28.11%	-26.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-58.13%	—
Current Drawdown Current decline from peak	-59.09%	-3.30%	-55.79%
Average Drawdown Average peak-to-trough decline	-50.24%	-19.36%	-30.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.45%	11.64%	+14.81%

Volatility

TSLR vs. AAPB - Volatility Comparison

GraniteShares 2x Long TSLA Daily ETF (TSLR) has a higher volatility of 24.40% compared to GraniteShares 2x Long AAPL Daily ETF (AAPB) at 11.20%. This indicates that TSLR's price experiences larger fluctuations and is considered to be riskier than AAPB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLR	AAPB	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.40%	11.20%	+13.20%
Volatility (6M) Calculated over the trailing 6-month period	54.65%	31.96%	+22.69%
Volatility (1Y) Calculated over the trailing 1-year period	92.75%	44.82%	+47.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.54%	51.33%	+64.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.54%	51.33%	+64.21%

TSLR vs. AAPB - Expense Ratio Comparison

TSLR has a 1.50% expense ratio, which is higher than AAPB's 1.15% expense ratio.

Dividends

TSLR vs. AAPB - Dividend Comparison

TSLR has not paid dividends to shareholders, while AAPB's dividend yield for the trailing twelve months is around 3.55%.

Position	TTM	2025	2024	2023
AAPB GraniteShares 2x Long AAPL Daily ETF	3.55%	4.39%	0.00%	18.75%
TSLR GraniteShares 2x Long TSLA Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLR and AAPB in my portfolio?

TSLR and AAPB have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLR or AAPB?

TSLR has higher volatility (24.40%) compared to AAPB (11.20%). In terms of maximum drawdown, TSLR dropped -82.80% vs AAPB's -58.13%.

Which ETF is better, TSLR or AAPB?

On 1-year performance, AAPB leads with 106.72% vs 8.94% for TSLR. On fees, AAPB is cheaper at 1.15% per year. On volatility, AAPB has been the lower-risk option at 11.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLR or AAPB?

Over the 1-year period, AAPB has performed better with a 106.72% return vs 8.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLR or AAPB?

AAPB is cheaper with a 1.15% expense ratio, compared with 1.50% for TSLR.

Which ETF pays a higher dividend yield, TSLR or AAPB?

AAPB has the higher dividend yield at 3.55%, compared with 0.00% for TSLR.

What is the main difference between TSLR and AAPB?

Their fees differ too: 1.50% for TSLR and 1.15% for AAPB.

Which has better risk-adjusted returns?

AAPB currently has the higher Sharpe Ratio (2.40 vs 0.10), 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.