TSLS vs. QQQE
TSLS (Direxion Daily TSLA Bear 1X ETF) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - TSLS is a Inverse Equities fund tracking the Tesla, Inc. (-100% Daily), while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past 3 years, TSLS returned -27.51%/yr vs 14.21%/yr for QQQE. Their -0.56 correlation means they have often moved in opposite directions in the past. TSLS charges 0.95%/yr vs 0.35%/yr for QQQE.
Performance
TSLS vs. QQQE - Performance Comparison
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Returns By Period
In the year-to-date period, TSLS achieves a 33.30% return, which is significantly higher than QQQE's 14.79% return.
TSLS
- 1D
- -0.74%
- 1M
- 22.65%
- 6M
- 27.99%
- YTD
- 33.30%
- 1Y
- -14.97%
- 3Y*
- -27.51%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -25.22%
QQQE
- 1D
- 0.29%
- 1M
- -2.56%
- 6M
- 13.07%
- YTD
- 14.79%
- 1Y
- 21.68%
- 3Y*
- 14.21%
- 5Y*
- 8.11%
- 10Y*
- 14.70%
- ALL TIME*
- 14.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.33M | $22.31M | $23.91M | |
| $28.97M | $27.46M | $30.88M |
TSLS vs. QQQE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSLS Direxion Daily TSLA Bear 1X ETF | 33.30% | -34.95% | -55.71% | -60.12% | 105.60% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 14.79% | 14.58% | 6.98% | 33.76% | -10.30% |
Correlation
The correlation between TSLS and QQQE is -0.57, 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. | -0.57 |
Correlation (3Y) Balances recent behavior with more history. | -0.54 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.56 |
The correlation between TSLS and QQQE has been stable across timeframes, ranging from -0.57 to -0.54 - a consistent structural relationship.
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Return for Risk
TSLS vs. QQQE — Risk / Return Rank
TSLS
QQQE
TSLS vs. QQQE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bear 1X ETF (TSLS) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.
| TSLS | QQQE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.22 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 2.11 | -2.43 |
| Martin ratioReturn relative to average drawdown | -0.45 | 6.75 | -7.20 |
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Drawdowns
TSLS vs. QQQE - Drawdown Comparison
The maximum TSLS drawdown since its inception was -90.73%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for TSLS and QQQE.
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Drawdown Indicators
| TSLS | QQQE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.73% | -32.14% | -58.59% |
Max Drawdown (1Y)Largest decline over 1 year | -41.36% | -9.41% | -31.95% |
Max Drawdown (3Y)Largest decline over 3 years | -84.16% | -21.38% | -62.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.14% | — |
Current DrawdownCurrent decline from peak | -86.56% | -4.46% | -82.10% |
Average DrawdownAverage peak-to-trough decline | -64.44% | -5.14% | -59.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.53% | 2.94% | +26.59% |
Volatility
TSLS vs. QQQE - Volatility Comparison
Direxion Daily TSLA Bear 1X ETF (TSLS) has a higher volatility of 19.07% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 3.68%. This indicates that TSLS's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSLS | QQQE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.07% | 3.68% | +15.39% |
Volatility (6M)Calculated over the trailing 6-month period | 33.98% | 12.96% | +21.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.81% | 16.02% | +30.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.98% | 20.58% | +38.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.98% | 20.76% | +38.22% |
TSLS vs. QQQE - Expense Ratio Comparison
TSLS has a 0.95% expense ratio, which is higher than QQQE's 0.35% expense ratio.
Dividends
TSLS vs. QQQE - Dividend Comparison
TSLS's dividend yield for the trailing twelve months is around 2.36%, more than QQQE's 0.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.58% | 0.52% | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.57% |
TSLS Direxion Daily TSLA Bear 1X ETF | 2.36% | 4.30% | 7.62% | 4.52% | 3.46% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSLS and QQQE have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLS has higher volatility (19.07%) compared to QQQE (3.68%). In terms of maximum drawdown, TSLS dropped -90.73% vs QQQE's -32.14%.
On 3-year performance, QQQE leads with 14.21% vs -27.51% for TSLS. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QQQE has performed better with a 14.21% return vs -27.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQE is cheaper with a 0.35% expense ratio, compared with 0.95% for TSLS.
TSLS has the higher dividend yield at 2.36%, compared with 0.58% for QQQE.
TSLS is categorized as Inverse Equities, while QQQE is Nasdaq-100. TSLS tracks Tesla, Inc. (-100% Daily), while QQQE tracks NASDAQ-100 Equal Weighted Index. Their fees differ too: 0.95% for TSLS and 0.35% for QQQE.
QQQE currently has the higher Sharpe Ratio (1.25 vs -0.28), 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.
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