TSLR vs. TSLL

Last updated Aug 2, 2026

TSLR (GraniteShares 2x Long TSLA Daily ETF) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, TSLR returned -24.02% vs -25.18% for TSLL. Their 1.00 correlation means they have historically moved very closely together. TSLR charges 0.95%/yr vs 0.83%/yr for TSLL.

Performance

TSLR vs. TSLL - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with TSLR having a -60.77% return and TSLL slightly lower at -61.15%.

TSLR

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

TSLL

• 1D: 1.39%
• 1M: -40.57%
• 6M: -56.61%
• YTD: -61.15%
• 1Y: -25.18%
• 3Y*: -20.90%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -23.74%

*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)
TSLL Direxion Daily TSLA Bull 2X ETF	$724.83M	$679.97M	$948.78M
TSLR GraniteShares 2x Long TSLA Daily ETF	$20.25M	$21.25M	$40.88M

TSLR vs. TSLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLR GraniteShares 2x Long TSLA Daily ETF	-60.77%	-25.97%	67.57%	1.69%
TSLL Direxion Daily TSLA Bull 2X ETF	-61.15%	-26.80%	99.63%	5.43%

Correlation

The correlation between TSLR and TSLL is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	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 TSLL has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

TSLR vs. TSLL - Sectors Allocation Comparison

Sectors	TSLR	TSLL
Consumer Cyclical	66.7%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TSLR vs. TSLL — 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

TSLL

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

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. TSLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long TSLA Daily ETF (TSLR) and Direxion Daily TSLA Bull 2X ETF (TSLL). 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	TSLL	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	-0.30	+0.01
Sortino ratio: Return per unit of downside risk	0.19	0.16	+0.03
Omega ratio: Gain probability vs. loss probability	1.02	1.02	0.00
Calmar ratio: Return relative to maximum drawdown	-0.38	-0.40	+0.01
Martin ratio: Return relative to average drawdown	-0.86	-0.88	+0.02

TSLR vs. TSLL - Sharpe Ratio Comparison

The current TSLR Sharpe Ratio is -0.29, which is comparable to the TSLL Sharpe Ratio of -0.30. The chart below compares the historical Sharpe Ratios of TSLR and TSLL, 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. TSLL - Drawdown Comparison

The maximum TSLR drawdown since its inception was -82.80%, roughly equal to the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for TSLR and TSLL.

Drawdown Indicators

	TSLR	TSLL	Difference
Max Drawdown Largest peak-to-trough decline	-82.80%	-82.88%	+0.08%
Max Drawdown (1Y) Largest decline over 1 year	-69.80%	-70.13%	+0.33%
Max Drawdown (3Y) Largest decline over 3 years	—	-82.88%	—
Current Drawdown Current decline from peak	-79.93%	-80.38%	+0.45%
Average Drawdown Average peak-to-trough decline	-51.13%	-54.36%	+3.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.27%	31.62%	-0.35%

Volatility

TSLR vs. TSLL - Volatility Comparison

GraniteShares 2x Long TSLA Daily ETF (TSLR) and Direxion Daily TSLA Bull 2X ETF (TSLL) have volatilities of 43.24% and 43.16%, 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

	TSLR	TSLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.24%	43.16%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	70.76%	70.52%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	92.93%	92.41%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	116.23%	107.78%	+8.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	116.23%	107.78%	+8.45%

TSLR vs. TSLL - Expense Ratio Comparison

TSLR has a 0.95% expense ratio, which is higher than TSLL's 0.83% expense ratio.

Dividends

TSLR vs. TSLL - Dividend Comparison

TSLR has not paid dividends to shareholders, while TSLL's dividend yield for the trailing twelve months is around 13.48%.

Position	TTM	2025	2024	2023	2022
TSLL Direxion Daily TSLA Bull 2X ETF	13.48%	5.00%	2.47%	4.44%	1.57%
TSLR GraniteShares 2x Long TSLA Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLR and TSLL in my portfolio?

With a correlation of 1.00, TSLR and TSLL 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, TSLR or TSLL?

TSLR has higher volatility (43.24%) compared to TSLL (43.16%). In terms of maximum drawdown, TSLR dropped -82.80% vs TSLL's -82.88%.

Which ETF is better, TSLR or TSLL?

On 1-year performance, TSLR leads with -24.02% vs -25.18% for TSLL. On fees, TSLL is cheaper at 0.83% 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, TSLR or TSLL?

Over the 1-year period, TSLR has performed better with a -24.02% return vs -25.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLR or TSLL?

TSLL is cheaper with a 0.83% expense ratio, compared with 0.95% for TSLR.

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

TSLL has the higher dividend yield at 13.48%, compared with 0.00% for TSLR.

What is the main difference between TSLR and TSLL?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 0.95% for TSLR and 0.83% for TSLL.

Which has better risk-adjusted returns?

TSLR currently has the higher Sharpe Ratio (-0.29 vs -0.30), 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.