TSLR vs. TSLZ

Last updated Jun 23, 2026

TSLR (GraniteShares 2x Long TSLA Daily ETF) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both exchange-traded funds - TSLR is a Leveraged Equities fund actively managed by GraniteShares, while TSLZ is a Inverse Equities fund actively managed by T-Rex. Both are actively managed. Over the past year, TSLR returned 16.68% vs -63.91% for TSLZ. At a correlation of -1.00, they often move in opposite directions. TSLR charges 1.50%/yr vs 1.05%/yr for TSLZ.

Performance

TSLR vs. TSLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long TSLA Daily ETF (TSLR) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLR achieves a -28.33% return, which is significantly lower than TSLZ's -0.13% return.

TSLR

• 1D: 2.32%
• 1M: -11.83%
• YTD: -28.33%
• 6M: -39.59%
• 1Y: 16.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLZ

• 1D: -2.07%
• 1M: 6.09%
• YTD: -0.13%
• 6M: 17.45%
• 1Y: -63.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLR vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLR GraniteShares 2x Long TSLA Daily ETF	-28.33%	-25.97%	67.57%	-1.00%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	-0.13%	-75.98%	-88.79%	-24.75%

Correlation

The correlation between TSLR and TSLZ is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-1.00
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	-1.00

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

Return for Risk

TSLR vs. TSLZ — Risk / Return Rank

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

TSLR

TSLR Risk / Return Rank: 13
TSLR Sharpe Ratio Rank: 11
TSLR Sortino Ratio Rank: 17
TSLR Omega Ratio Rank: 16
TSLR Calmar Ratio Rank: 11
TSLR Martin Ratio Rank: 11

TSLZ

TSLZ Risk / Return Rank: 3
TSLZ Sharpe Ratio Rank: 3
TSLZ Sortino Ratio Rank: 3
TSLZ Omega Ratio Rank: 3
TSLZ Calmar Ratio Rank: 1
TSLZ Martin Ratio Rank: 3

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. TSLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long TSLA Daily ETF (TSLR) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	0.19	-0.73	+0.92
Sortino ratio: Return per unit of downside risk	0.91	-0.99	+1.90
Omega ratio: Gain probability vs. loss probability	1.10	0.89	+0.21
Calmar ratio: Return relative to maximum drawdown	0.31	-0.88	+1.19
Martin ratio: Return relative to average drawdown	0.61	-1.12	+1.73

TSLR vs. TSLZ - Sharpe Ratio Comparison

The current TSLR Sharpe Ratio is 0.19, which is higher than the TSLZ Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of TSLR and TSLZ, 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. TSLZ - Drawdown Comparison

The maximum TSLR drawdown since its inception was -82.80%, smaller than the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for TSLR and TSLZ.

Drawdown Indicators

	TSLR	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-82.80%	-99.11%	+16.31%
Max Drawdown (1Y) Largest decline over 1 year	-54.37%	-72.88%	+18.51%
Current Drawdown Current decline from peak	-63.32%	-98.95%	+35.63%
Average Drawdown Average peak-to-trough decline	-50.40%	-75.67%	+25.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.31%	57.09%	-29.78%

Volatility

TSLR vs. TSLZ - Volatility Comparison

GraniteShares 2x Long TSLA Daily ETF (TSLR) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) have volatilities of 26.53% and 25.49%, 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	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.53%	25.49%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	56.18%	56.21%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	88.87%	87.45%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.27%	116.74%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.27%	116.74%	-1.47%

TSLR vs. TSLZ - Expense Ratio Comparison

TSLR has a 1.50% expense ratio, which is higher than TSLZ's 1.05% expense ratio.

Dividends

TSLR vs. TSLZ - Dividend Comparison

TSLR has not paid dividends to shareholders, while TSLZ's dividend yield for the trailing twelve months is around 0.69%.

Position	TTM	2025	2024	2023
TSLR GraniteShares 2x Long TSLA Daily ETF	0.00%	0.00%	0.00%	0.00%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.69%	0.69%	2.08%	12.15%

Frequently Asked Questions

Can I hold both TSLR and TSLZ in my portfolio?

TSLR and TSLZ 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 TSLZ?

TSLR has higher volatility (26.53%) compared to TSLZ (25.49%). In terms of maximum drawdown, TSLR dropped -82.80% vs TSLZ's -99.11%.

Which ETF is better, TSLR or TSLZ?

On 1-year performance, TSLR leads with 16.68% vs -63.91% for TSLZ. On fees, TSLZ is cheaper at 1.05% per year. On volatility, TSLZ has been the lower-risk option at 25.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLR or TSLZ?

Over the 1-year period, TSLR has performed better with a 16.68% return vs -63.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLR or TSLZ?

TSLZ is cheaper with a 1.05% expense ratio, compared with 1.50% for TSLR.

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

TSLZ has the higher dividend yield at 0.69%, compared with 0.00% for TSLR.

What is the main difference between TSLR and TSLZ?

TSLR is categorized as Leveraged Equities, while TSLZ is Inverse Equities. They also come from different issuers: GraniteShares and T-Rex. Their fees differ too: 1.50% for TSLR and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSLR currently has the higher Sharpe Ratio (0.19 vs -0.73), 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.