TSLR vs. DLLL

Last updated Jun 4, 2026

TSLR (GraniteShares 2x Long TSLA Daily ETF) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds from GraniteShares. TSLR is actively managed, while DLLL is passively managed. Over the past year, TSLR returned 8.94% vs 850.63% for DLLL. At a 0.32 correlation, their price movements are largely independent. Both charge a 1.50% expense ratio.

Performance

TSLR vs. DLLL - 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 DELL Daily ETF (DLLL). 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 DLLL's 757.76% return.

TSLR

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

DLLL

• 1D: -6.45%
• 1M: 245.92%
• YTD: 757.76%
• 6M: 648.38%
• 1Y: 850.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLR vs. DLLL - Yearly Performance Comparison

	2026 (YTD)	2025
TSLR GraniteShares 2x Long TSLA Daily ETF	-20.05%	0.41%
DLLL GraniteShares 2x Long DELL Daily ETF	757.76%	-3.72%

Correlation

The correlation between TSLR and DLLL is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.32

The correlation between TSLR and DLLL shifts across timeframes, from 0.20 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

TSLR vs. DLLL - Sectors Allocation Comparison

Sectors	TSLR	DLLL
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. DLLL — 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

DLLL

DLLL Risk / Return Rank: 95
DLLL Sharpe Ratio Rank: 99
DLLL Sortino Ratio Rank: 94
DLLL Omega Ratio Rank: 91
DLLL Calmar Ratio Rank: 98
DLLL Martin Ratio Rank: 95

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. DLLL - 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 DELL Daily ETF (DLLL). 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	DLLL	Difference
Sharpe ratio: Return per unit of total volatility	0.10	6.65	-6.56
Sortino ratio: Return per unit of downside risk	0.80	4.81	-4.01
Omega ratio: Gain probability vs. loss probability	1.10	1.60	-0.50
Calmar ratio: Return relative to maximum drawdown	0.17	15.02	-14.86
Martin ratio: Return relative to average drawdown	0.34	31.34	-31.00
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. DLLL - Sharpe Ratio Comparison

The current TSLR Sharpe Ratio is 0.10, which is lower than the DLLL Sharpe Ratio of 6.65. The chart below compares the historical Sharpe Ratios of TSLR and DLLL, 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	DLLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	6.65	-6.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	3.16	-3.15

Drawdowns

TSLR vs. DLLL - Drawdown Comparison

The maximum TSLR drawdown since its inception was -82.80%, which is greater than DLLL's maximum drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for TSLR and DLLL.

Drawdown Indicators

	TSLR	DLLL	Difference
Max Drawdown Largest peak-to-trough decline	-82.80%	-68.58%	-14.22%
Max Drawdown (1Y) Largest decline over 1 year	-54.37%	-57.19%	+2.82%
Current Drawdown Current decline from peak	-59.09%	-18.86%	-40.23%
Average Drawdown Average peak-to-trough decline	-50.24%	-25.91%	-24.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.45%	27.36%	-0.91%

Volatility

TSLR vs. DLLL - Volatility Comparison

The current volatility for GraniteShares 2x Long TSLA Daily ETF (TSLR) is 24.40%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 69.39%. This indicates that TSLR experiences smaller price fluctuations and is considered to be less risky than DLLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLR	DLLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.40%	69.39%	-44.99%
Volatility (6M) Calculated over the trailing 6-month period	54.65%	102.08%	-47.43%
Volatility (1Y) Calculated over the trailing 1-year period	92.75%	129.28%	-36.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.54%	130.55%	-15.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.54%	130.55%	-15.01%

TSLR vs. DLLL - Expense Ratio Comparison

Both TSLR and DLLL have an expense ratio of 1.50%.

Dividends

TSLR vs. DLLL - Dividend Comparison

Neither TSLR nor DLLL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TSLR and DLLL in my portfolio?

TSLR and DLLL have a correlation of 0.20, 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 DLLL?

DLLL has higher volatility (69.39%) compared to TSLR (24.40%). In terms of maximum drawdown, TSLR dropped -82.80% vs DLLL's -68.58%.

Which ETF is better, TSLR or DLLL?

On 1-year performance, DLLL leads with 850.63% vs 8.94% for TSLR. Both ETFs have the same 1.50% expense ratio. On volatility, TSLR has been the lower-risk option at 24.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLR or DLLL?

Over the 1-year period, DLLL has performed better with a 850.63% 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 DLLL?

TSLR and DLLL have the same expense ratio: 1.50% per year.

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

TSLR and DLLL have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

DLLL currently has the higher Sharpe Ratio (6.65 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.