TSLS vs. QQQE
TSLS (Direxion Daily TSLA Bear 1X Shares) 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%), 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 -38.33%/yr vs 18.69%/yr for QQQE. At a correlation of -0.54, they often move in opposite directions. TSLS charges 1.07%/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 3.13% return, which is significantly lower than QQQE's 19.12% return.
TSLS
- 1D
- 0.10%
- 1M
- -8.14%
- YTD
- 3.13%
- 6M
- 2.01%
- 1Y
- -28.79%
- 3Y*
- -38.33%
- 5Y*
- —
- 10Y*
- —
QQQE
- 1D
- -0.10%
- 1M
- 10.46%
- YTD
- 19.12%
- 6M
- 17.48%
- 1Y
- 28.68%
- 3Y*
- 18.69%
- 5Y*
- 10.30%
- 10Y*
- 15.49%
TSLS vs. QQQE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSLS Direxion Daily TSLA Bear 1X Shares | 3.13% | -34.95% | -55.71% | -60.12% | 100.52% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 19.12% | 14.58% | 6.98% | 33.76% | -8.66% |
Correlation
The correlation between TSLS and QQQE is -0.47, 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 | -0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.52 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | -0.54 |
The correlation between TSLS and QQQE has been stable across timeframes, ranging from -0.54 to -0.47 - 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 Shares (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.
| TSLS | QQQE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.66 | ||
| Sortino ratioReturn per unit of downside risk | -3.50 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.35 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 3.06 | -3.68 |
| Martin ratioReturn relative to average drawdown | -0.88 | 10.57 | -11.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSLS | QQQE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | 2.04 | -2.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.51 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 0.76 | -1.30 |
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 | -46.42% | -9.41% | -37.01% |
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 | -89.60% | -0.10% | -89.50% |
Average DrawdownAverage peak-to-trough decline | -63.49% | -5.17% | -58.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.85% | 2.72% | +30.13% |
Volatility
TSLS vs. QQQE - Volatility Comparison
Direxion Daily TSLA Bear 1X Shares (TSLS) has a higher volatility of 12.06% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 3.79%. 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 | 12.06% | 3.79% | +8.27% |
Volatility (6M)Calculated over the trailing 6-month period | 27.72% | 10.64% | +17.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.68% | 14.15% | +32.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.76% | 20.30% | +38.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.76% | 20.72% | +38.04% |
TSLS vs. QQQE - Expense Ratio Comparison
TSLS has a 1.07% 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 3.39%, more than QQQE's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.52% | 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 Shares | 3.39% | 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 -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLS has higher volatility (12.06%) compared to QQQE (3.79%). In terms of maximum drawdown, TSLS dropped -90.73% vs QQQE's -32.14%.
On 3-year performance, QQQE leads with 18.69% vs -38.33% for TSLS. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 3.79%. 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 18.69% return vs -38.33%. 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 1.07% for TSLS.
TSLS has the higher dividend yield at 3.39%, compared with 0.52% for QQQE.
TSLS is categorized as Inverse Equities, while QQQE is Nasdaq-100. TSLS tracks Tesla Inc (--100%), while QQQE tracks NASDAQ-100 Equal Weighted Index. Their fees differ too: 1.07% for TSLS and 0.35% for QQQE.
QQQE currently has the higher Sharpe Ratio (2.04 vs -0.62), 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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