TSLR vs. TSDD

Last updated Aug 2, 2026

TSLR (GraniteShares 2x Long TSLA Daily ETF) and TSDD (GraniteShares 2x Short TSLA Daily ETF) are both exchange-traded funds - TSLR is a Leveraged Equities fund actively managed by GraniteShares, while TSDD is a Inverse Equities fund actively managed by GraniteShares. Both are actively managed. Over the past year, TSLR returned -24.02% vs -46.78% for TSDD. Their -1.00 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.

Performance

TSLR vs. TSDD - 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 Short TSLA Daily ETF (TSDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLR achieves a -60.77% return, which is significantly lower than TSDD's 47.87% return.

TSLR

• 1D: 1.45%
• 1M: -40.45%
• 6M: -56.28%
• YTD: -60.77%
• 1Y: -24.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -21.28%

TSDD

• 1D: -1.55%
• 1M: 44.87%
• 6M: 39.90%
• YTD: 47.87%
• 1Y: -46.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -69.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TSDD GraniteShares 2x Short TSLA Daily ETF	$166.67M	$161.08M	$200.09M
TSLR GraniteShares 2x Long TSLA Daily ETF	$20.25M	$21.25M	$40.88M

TSLR vs. TSDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLR GraniteShares 2x Long TSLA Daily ETF	-60.77%	-25.97%	67.57%	1.69%
TSDD GraniteShares 2x Short TSLA Daily ETF	47.87%	-74.84%	-89.21%	-20.49%

Correlation

The correlation between TSLR and TSDD is -1.00, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-1.00
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	-1.00

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

TSLR vs. TSDD - Sectors Allocation Comparison

Sectors	TSLR	TSDD
Consumer Cyclical	66.7%	200.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TSLR vs. TSDD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSLR

TSLR Risk / Return Rank: 8
TSLR Sharpe Ratio Rank: 7
TSLR Sortino Ratio Rank: 11
TSLR Omega Ratio Rank: 11
TSLR Calmar Ratio Rank: 6
TSLR Martin Ratio Rank: 5

TSDD

TSDD Risk / Return Rank: 6
TSDD Sharpe Ratio Rank: 5
TSDD Sortino Ratio Rank: 7
TSDD Omega Ratio Rank: 7
TSDD Calmar Ratio Rank: 4
TSDD Martin Ratio Rank: 6

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSLR vs. TSDD - 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 Short TSLA Daily ETF (TSDD). 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.

	TSLR	TSDD	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	-0.49	+0.20
Sortino ratio: Return per unit of downside risk	0.19	-0.27	+0.46
Omega ratio: Gain probability vs. loss probability	1.02	0.97	+0.05
Calmar ratio: Return relative to maximum drawdown	-0.38	-0.65	+0.26
Martin ratio: Return relative to average drawdown	-0.86	-0.80	-0.06

TSLR vs. TSDD - Sharpe Ratio Comparison

The current TSLR Sharpe Ratio is -0.29, which is higher than the TSDD Sharpe Ratio of -0.49. The chart below compares the historical Sharpe Ratios of TSLR and TSDD, 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

TSLR vs. TSDD - Drawdown Comparison

The maximum TSLR drawdown since its inception was -82.80%, smaller than the maximum TSDD drawdown of -99.03%. Use the drawdown chart below to compare losses from any high point for TSLR and TSDD.

Drawdown Indicators

	TSLR	TSDD	Difference
Max Drawdown Largest peak-to-trough decline	-82.80%	-99.03%	+16.23%
Max Drawdown (1Y) Largest decline over 1 year	-69.80%	-69.48%	-0.32%
Current Drawdown Current decline from peak	-79.93%	-98.31%	+18.38%
Average Drawdown Average peak-to-trough decline	-51.13%	-72.61%	+21.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.27%	56.09%	-24.82%

Volatility

TSLR vs. TSDD - Volatility Comparison

GraniteShares 2x Long TSLA Daily ETF (TSLR) has a higher volatility of 43.24% compared to GraniteShares 2x Short TSLA Daily ETF (TSDD) at 37.07%. This indicates that TSLR's price experiences larger fluctuations and is considered to be riskier than TSDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLR	TSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.24%	37.07%	+6.17%
Volatility (6M) Calculated over the trailing 6-month period	70.76%	67.48%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	92.93%	92.71%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	116.23%	115.20%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	116.23%	115.20%	+1.03%

TSLR vs. TSDD - Expense Ratio Comparison

Both TSLR and TSDD have an expense ratio of 0.95%.

Dividends

TSLR vs. TSDD - Dividend Comparison

TSLR has not paid dividends to shareholders, while TSDD's dividend yield for the trailing twelve months is around 5.70%.

Position	TTM	2025	2024	2023
TSDD GraniteShares 2x Short TSLA Daily ETF	5.70%	8.42%	0.00%	24.84%
TSLR GraniteShares 2x Long TSLA Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLR and TSDD in my portfolio?

TSLR and TSDD 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, TSLR or TSDD?

TSLR has higher volatility (43.24%) compared to TSDD (37.07%). In terms of maximum drawdown, TSLR dropped -82.80% vs TSDD's -99.03%.

Which ETF is better, TSLR or TSDD?

On 1-year performance, TSLR leads with -24.02% vs -46.78% for TSDD. Both ETFs have the same 0.95% expense ratio. On volatility, TSDD has been the lower-risk option at 37.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLR or TSDD?

Over the 1-year period, TSLR has performed better with a -24.02% return vs -46.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLR or TSDD?

TSLR and TSDD have the same expense ratio: 0.95% per year.

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

TSDD has the higher dividend yield at 5.70%, compared with 0.00% for TSLR.

What is the main difference between TSLR and TSDD?

TSLR is categorized as Leveraged Equities, while TSDD is Inverse Equities.

Which has better risk-adjusted returns?

TSLR currently has the higher Sharpe Ratio (-0.29 vs -0.49), 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.