TSLR vs. TSLY

Last updated Aug 2, 2026

TSLR (GraniteShares 2x Long TSLA Daily ETF) and TSLY (YieldMax TSLA Option Income Strategy ETF) are both exchange-traded funds - TSLR is a Leveraged Equities fund actively managed by GraniteShares, while TSLY is a Options Trading fund actively managed by YieldMax. Both are actively managed. Over the past year, TSLR returned -24.02% vs 7.14% for TSLY. Their 0.98 correlation means they have historically moved very closely together. TSLR charges 0.95%/yr vs 1.07%/yr for TSLY.

Performance

TSLR vs. TSLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long TSLA Daily ETF (TSLR) and YieldMax TSLA Option Income Strategy ETF (TSLY). 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 TSLY's -24.18% return.

TSLR

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

TSLY

• 1D: 0.62%
• 1M: -18.26%
• 6M: -22.89%
• YTD: -24.18%
• 1Y: 7.14%
• 3Y*: -0.29%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.31%

*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)
TSLR GraniteShares 2x Long TSLA Daily ETF	$20.25M	$21.25M	$40.88M
TSLY YieldMax TSLA Option Income Strategy ETF	$13.88M	$12.88M	$17.43M

TSLR vs. TSLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLR GraniteShares 2x Long TSLA Daily ETF	-60.77%	-25.97%	67.57%	1.69%
TSLY YieldMax TSLA Option Income Strategy ETF	-24.18%	13.62%	27.83%	1.83%

Correlation

The correlation between TSLR and TSLY is 0.99 - 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.	0.99
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	0.98

The correlation between TSLR and TSLY has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

TSLR vs. TSLY — 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

TSLY

TSLY Risk / Return Rank: 15
TSLY Sharpe Ratio Rank: 14
TSLY Sortino Ratio Rank: 16
TSLY Omega Ratio Rank: 16
TSLY Calmar Ratio Rank: 14
TSLY Martin Ratio Rank: 14

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. TSLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long TSLA Daily ETF (TSLR) and YieldMax TSLA Option Income Strategy ETF (TSLY). 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	TSLY	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	0.15	-0.44
Sortino ratio: Return per unit of downside risk	0.19	0.46	-0.27
Omega ratio: Gain probability vs. loss probability	1.02	1.06	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.38	0.18	-0.56
Martin ratio: Return relative to average drawdown	-0.86	0.52	-1.37

TSLR vs. TSLY - Sharpe Ratio Comparison

The current TSLR Sharpe Ratio is -0.29, which is lower than the TSLY Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of TSLR and TSLY, 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. TSLY - Drawdown Comparison

The maximum TSLR drawdown since its inception was -82.80%, which is greater than TSLY's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for TSLR and TSLY.

Drawdown Indicators

	TSLR	TSLY	Difference
Max Drawdown Largest peak-to-trough decline	-82.80%	-49.52%	-33.28%
Max Drawdown (1Y) Largest decline over 1 year	-69.80%	-31.78%	-38.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-49.52%	—
Current Drawdown Current decline from peak	-79.93%	-29.10%	-50.83%
Average Drawdown Average peak-to-trough decline	-51.13%	-19.79%	-31.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.27%	10.80%	+20.47%

Volatility

TSLR vs. TSLY - Volatility Comparison

GraniteShares 2x Long TSLA Daily ETF (TSLR) has a higher volatility of 43.24% compared to YieldMax TSLA Option Income Strategy ETF (TSLY) at 18.70%. This indicates that TSLR's price experiences larger fluctuations and is considered to be riskier than TSLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLR	TSLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.24%	18.70%	+24.54%
Volatility (6M) Calculated over the trailing 6-month period	70.76%	29.69%	+41.07%
Volatility (1Y) Calculated over the trailing 1-year period	92.93%	38.29%	+54.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	116.23%	46.00%	+70.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	116.23%	46.00%	+70.23%

TSLR vs. TSLY - Expense Ratio Comparison

TSLR has a 0.95% expense ratio, which is lower than TSLY's 1.07% expense ratio.

Dividends

TSLR vs. TSLY - Dividend Comparison

TSLR has not paid dividends to shareholders, while TSLY's dividend yield for the trailing twelve months is around 111.92%.

Position	TTM	2025	2024	2023
TSLR GraniteShares 2x Long TSLA Daily ETF	0.00%	0.00%	0.00%	0.00%
TSLY YieldMax TSLA Option Income Strategy ETF	111.92%	91.19%	82.30%	76.47%

Frequently Asked Questions

Can I hold both TSLR and TSLY in my portfolio?

With a correlation of 0.99, TSLR and TSLY 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 TSLY?

TSLR has higher volatility (43.24%) compared to TSLY (18.70%). In terms of maximum drawdown, TSLR dropped -82.80% vs TSLY's -49.52%.

Which ETF is better, TSLR or TSLY?

On 1-year performance, TSLY leads with 7.14% vs -24.02% for TSLR. On fees, TSLR is cheaper at 0.95% per year. On volatility, TSLY has been the lower-risk option at 18.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLR or TSLY?

Over the 1-year period, TSLY has performed better with a 7.14% return vs -24.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLR or TSLY?

TSLR is cheaper with a 0.95% expense ratio, compared with 1.07% for TSLY.

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

TSLY has the higher dividend yield at 111.92%, compared with 0.00% for TSLR.

What is the main difference between TSLR and TSLY?

TSLR is categorized as Leveraged Equities, while TSLY is Options Trading. They also come from different issuers: GraniteShares and YieldMax. Their fees differ too: 0.95% for TSLR and 1.07% for TSLY.

Which has better risk-adjusted returns?

TSLY currently has the higher Sharpe Ratio (0.15 vs -0.29), 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.