TSLS vs. SUSL
TSLS (Direxion Daily TSLA Bear 1X Shares) and SUSL (iShares ESG MSCI USA Leaders ETF) are both exchange-traded funds - TSLS is a Inverse Equities fund tracking the Tesla Inc (--100%), while SUSL is a Large Cap Growth Equities fund tracking the MSCI USA Extended ESG Leaders Index. Both are passively managed. Over the past 3 years, TSLS returned -37.73%/yr vs 22.94%/yr for SUSL. At a correlation of -0.57, they often move in opposite directions. TSLS charges 1.07%/yr vs 0.10%/yr for SUSL.
Performance
TSLS vs. SUSL - Performance Comparison
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Returns By Period
In the year-to-date period, TSLS achieves a 4.36% return, which is significantly lower than SUSL's 10.64% return.
TSLS
- 1D
- 1.19%
- 1M
- -7.80%
- YTD
- 4.36%
- 6M
- 4.85%
- 1Y
- -30.44%
- 3Y*
- -37.73%
- 5Y*
- —
- 10Y*
- —
SUSL
- 1D
- 1.25%
- 1M
- 5.15%
- YTD
- 10.64%
- 6M
- 11.24%
- 1Y
- 29.23%
- 3Y*
- 22.94%
- 5Y*
- 14.05%
- 10Y*
- —
TSLS vs. SUSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSLS Direxion Daily TSLA Bear 1X Shares | 4.36% | -34.95% | -55.71% | -60.12% | 100.52% |
SUSL iShares ESG MSCI USA Leaders ETF | 10.64% | 18.97% | 23.51% | 29.08% | -6.36% |
Correlation
The correlation between TSLS and SUSL is -0.56, 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 | -0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.57 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | -0.57 |
The correlation between TSLS and SUSL has been stable across timeframes, ranging from -0.57 to -0.56 - a consistent structural relationship.
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Return for Risk
TSLS vs. SUSL — Risk / Return Rank
TSLS
SUSL
TSLS vs. SUSL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bear 1X Shares (TSLS) and iShares ESG MSCI USA Leaders ETF (SUSL). 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 | SUSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.91 | ||
| Sortino ratioReturn per unit of downside risk | -3.92 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.40 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 2.58 | -3.24 |
| Martin ratioReturn relative to average drawdown | -0.93 | 11.10 | -12.02 |
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 | SUSL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 2.26 | -2.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.81 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.53 | 0.86 | -1.40 |
Drawdowns
TSLS vs. SUSL - Drawdown Comparison
The maximum TSLS drawdown since its inception was -90.73%, which is greater than SUSL's maximum drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for TSLS and SUSL.
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Drawdown Indicators
| TSLS | SUSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.73% | -34.26% | -56.47% |
Max Drawdown (1Y)Largest decline over 1 year | -46.42% | -11.37% | -35.05% |
Max Drawdown (3Y)Largest decline over 3 years | -84.16% | -19.91% | -64.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.98% | — |
Current DrawdownCurrent decline from peak | -89.48% | -0.15% | -89.33% |
Average DrawdownAverage peak-to-trough decline | -63.52% | -5.70% | -57.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.94% | 2.64% | +30.30% |
Volatility
TSLS vs. SUSL - Volatility Comparison
Direxion Daily TSLA Bear 1X Shares (TSLS) has a higher volatility of 12.11% compared to iShares ESG MSCI USA Leaders ETF (SUSL) at 3.80%. This indicates that TSLS's price experiences larger fluctuations and is considered to be riskier than SUSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSLS | SUSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.11% | 3.80% | +8.31% |
Volatility (6M)Calculated over the trailing 6-month period | 27.74% | 10.05% | +17.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.69% | 13.02% | +33.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.73% | 17.48% | +41.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.73% | 19.80% | +38.93% |
TSLS vs. SUSL - Expense Ratio Comparison
TSLS has a 1.07% expense ratio, which is higher than SUSL's 0.10% expense ratio.
Dividends
TSLS vs. SUSL - Dividend Comparison
TSLS's dividend yield for the trailing twelve months is around 3.35%, more than SUSL's 0.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SUSL iShares ESG MSCI USA Leaders ETF | 0.92% | 0.99% | 1.10% | 1.27% | 1.57% | 1.12% | 1.38% | 1.12% |
TSLS Direxion Daily TSLA Bear 1X Shares | 3.35% | 4.30% | 7.62% | 4.52% | 3.46% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSLS and SUSL have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLS has higher volatility (12.11%) compared to SUSL (3.80%). In terms of maximum drawdown, TSLS dropped -90.73% vs SUSL's -34.26%.
On 3-year performance, SUSL leads with 22.94% vs -37.73% for TSLS. On fees, SUSL is cheaper at 0.10% per year. On volatility, SUSL has been the lower-risk option at 3.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SUSL has performed better with a 22.94% return vs -37.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SUSL is cheaper with a 0.10% expense ratio, compared with 1.07% for TSLS.
TSLS has the higher dividend yield at 3.35%, compared with 0.92% for SUSL.
TSLS is categorized as Inverse Equities, while SUSL is Large Cap Growth Equities. TSLS tracks Tesla Inc (--100%), while SUSL tracks MSCI USA Extended ESG Leaders Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for TSLS and 0.10% for SUSL.
SUSL currently has the higher Sharpe Ratio (2.26 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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