TSLS vs. QYLG
TSLS (Direxion Daily TSLA Bear 1X Shares) and QYLG (Global X Nasdaq 100 Covered Call & Growth ETF) are both exchange-traded funds - TSLS is a Inverse Equities fund tracking the Tesla Inc (--100%), while QYLG is a Nasdaq-100 fund tracking the CBOE Nasdaq-100 BuyWrite V2 Index. Both are passively managed. Over the past 3 years, TSLS returned -31.12%/yr vs 18.73%/yr for QYLG. At a correlation of -0.58, they often move in opposite directions. TSLS charges 1.07%/yr vs 0.60%/yr for QYLG.
Performance
TSLS vs. QYLG - Performance Comparison
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Returns By Period
In the year-to-date period, TSLS achieves a 7.44% return, which is significantly lower than QYLG's 12.90% return.
TSLS
- 1D
- 3.17%
- 1M
- 0.94%
- 6M
- 7.23%
- YTD
- 7.44%
- 1Y
- -29.54%
- 3Y*
- -31.12%
- 5Y*
- —
- 10Y*
- —
QYLG
- 1D
- -1.71%
- 1M
- 0.11%
- 6M
- 10.91%
- YTD
- 12.90%
- 1Y
- 25.69%
- 3Y*
- 18.73%
- 5Y*
- 11.73%
- 10Y*
- —
TSLS vs. QYLG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSLS Direxion Daily TSLA Bear 1X Shares | 7.44% | -34.95% | -55.71% | -60.12% | 105.60% |
QYLG Global X Nasdaq 100 Covered Call & Growth ETF | 12.90% | 15.29% | 22.02% | 38.73% | -13.44% |
Correlation
The correlation between TSLS and QYLG is -0.64, 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 | -0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.59 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.58 |
The correlation between TSLS and QYLG has been stable across timeframes, ranging from -0.64 to -0.58 - a consistent structural relationship.
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Return for Risk
TSLS vs. QYLG — Risk / Return Rank
TSLS
QYLG
TSLS vs. QYLG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bear 1X Shares (TSLS) and Global X Nasdaq 100 Covered Call & Growth ETF (QYLG). 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 | QYLG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.33 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 3.07 | -3.78 |
| Martin ratioReturn relative to average drawdown | -1.02 | 12.95 | -13.97 |
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Drawdowns
TSLS vs. QYLG - Drawdown Comparison
The maximum TSLS drawdown since its inception was -90.73%, which is greater than QYLG's maximum drawdown of -29.98%. Use the drawdown chart below to compare losses from any high point for TSLS and QYLG.
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Drawdown Indicators
| TSLS | QYLG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.73% | -29.98% | -60.75% |
Max Drawdown (1Y)Largest decline over 1 year | -41.36% | -8.42% | -32.94% |
Max Drawdown (3Y)Largest decline over 3 years | -84.16% | -20.75% | -63.41% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.98% | — |
Current DrawdownCurrent decline from peak | -89.17% | -2.49% | -86.68% |
Average DrawdownAverage peak-to-trough decline | -64.11% | -6.34% | -57.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.04% | 1.99% | +27.05% |
Volatility
TSLS vs. QYLG - Volatility Comparison
Direxion Daily TSLA Bear 1X Shares (TSLS) has a higher volatility of 17.77% compared to Global X Nasdaq 100 Covered Call & Growth ETF (QYLG) at 6.76%. This indicates that TSLS's price experiences larger fluctuations and is considered to be riskier than QYLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSLS | QYLG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.77% | 6.76% | +11.01% |
Volatility (6M)Calculated over the trailing 6-month period | 31.54% | 12.19% | +19.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.27% | 14.28% | +30.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.81% | 18.29% | +40.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.81% | 18.06% | +40.75% |
TSLS vs. QYLG - Expense Ratio Comparison
TSLS has a 1.07% expense ratio, which is higher than QYLG's 0.60% expense ratio.
Dividends
TSLS vs. QYLG - Dividend Comparison
TSLS's dividend yield for the trailing twelve months is around 2.93%, less than QYLG's 16.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
QYLG Global X Nasdaq 100 Covered Call & Growth ETF | 16.61% | 17.93% | 25.27% | 5.43% | 6.91% | 10.15% | 1.44% |
TSLS Direxion Daily TSLA Bear 1X Shares | 2.93% | 4.30% | 7.62% | 4.52% | 3.46% | 0.00% | 0.00% |
Frequently Asked Questions
TSLS and QYLG have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLS has higher volatility (17.77%) compared to QYLG (6.76%). In terms of maximum drawdown, TSLS dropped -90.73% vs QYLG's -29.98%.
On 3-year performance, QYLG leads with 18.73% vs -31.12% for TSLS. On fees, QYLG is cheaper at 0.60% per year. On volatility, QYLG has been the lower-risk option at 6.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QYLG has performed better with a 18.73% return vs -31.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QYLG is cheaper with a 0.60% expense ratio, compared with 1.07% for TSLS.
QYLG has the higher dividend yield at 16.61%, compared with 2.93% for TSLS.
TSLS is categorized as Inverse Equities, while QYLG is Nasdaq-100. TSLS tracks Tesla Inc (--100%), while QYLG tracks CBOE Nasdaq-100 BuyWrite V2 Index. They also come from different issuers: Direxion and Global X. Their fees differ too: 1.07% for TSLS and 0.60% for QYLG.
QYLG currently has the higher Sharpe Ratio (1.81 vs -0.66), 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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