TSLS vs. TSYY

Last updated Jun 3, 2026

TSLS (Direxion Daily TSLA Bear 1X Shares) and TSYY (GraniteShares YieldBOOST TSLA ETF) are both exchange-traded funds - TSLS is a Inverse Equities fund tracking the Tesla Inc (--100%), while TSYY is a Derivative Income fund actively managed by GraniteShares. TSLS is passively managed, while TSYY is actively managed. Over the past year, TSLS returned -29.14% vs -11.50% for TSYY. At a correlation of -0.87, they often move in opposite directions. TSLS charges 1.07%/yr vs 0.99%/yr for TSYY.

Performance

TSLS vs. TSYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSLA Bear 1X Shares (TSLS) and GraniteShares YieldBOOST TSLA ETF (TSYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLS achieves a 3.03% return, which is significantly higher than TSYY's -16.74% return.

TSLS

• 1D: -1.93%
• 1M: -8.56%
• YTD: 3.03%
• 6M: -2.42%
• 1Y: -29.14%
• 3Y*: -38.35%
• 5Y*: —
• 10Y*: —

TSYY

• 1D: -0.25%
• 1M: -0.89%
• YTD: -16.74%
• 6M: -14.96%
• 1Y: -11.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLS vs. TSYY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLS Direxion Daily TSLA Bear 1X Shares	3.03%	-34.95%	8.11%
TSYY GraniteShares YieldBOOST TSLA ETF	-16.74%	-15.96%	-0.18%

Correlation

The correlation between TSLS and TSYY is -0.89, 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	-0.89
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	-0.87

The correlation between TSLS and TSYY has been stable across timeframes, ranging from -0.89 to -0.87 - a consistent structural relationship.

Return for Risk

TSLS vs. TSYY — Risk / Return Rank

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

TSLS

TSLS Risk / Return Rank: 4
TSLS Sharpe Ratio Rank: 4
TSLS Sortino Ratio Rank: 4
TSLS Omega Ratio Rank: 4
TSLS Calmar Ratio Rank: 3
TSLS Martin Ratio Rank: 4

TSYY

TSYY Risk / Return Rank: 5
TSYY Sharpe Ratio Rank: 5
TSYY Sortino Ratio Rank: 6
TSYY Omega Ratio Rank: 5
TSYY Calmar Ratio Rank: 5
TSYY Martin Ratio Rank: 4

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.

TSLS vs. TSYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bear 1X Shares (TSLS) and GraniteShares YieldBOOST TSLA ETF (TSYY). 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	TSYY	Difference
Sharpe ratio Return per unit of total volatility	-0.63	-0.36	-0.26
Sortino ratio Return per unit of downside risk	-0.72	-0.29	-0.43
Omega ratio Gain probability vs. loss probability	0.92	0.96	-0.04
Calmar ratio Return relative to maximum drawdown	-0.62	-0.46	-0.15
Martin ratio Return relative to average drawdown	-0.87	-0.87	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLS vs. TSYY - Sharpe Ratio Comparison

The current TSLS Sharpe Ratio is -0.63, which is lower than the TSYY Sharpe Ratio of -0.36. The chart below compares the historical Sharpe Ratios of TSLS and TSYY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TSLS	TSYY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.63	-0.36	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	-0.59	+0.05

Drawdowns

TSLS vs. TSYY - Drawdown Comparison

The maximum TSLS drawdown since its inception was -90.73%, which is greater than TSYY's maximum drawdown of -41.52%. Use the drawdown chart below to compare losses from any high point for TSLS and TSYY.

Drawdown Indicators

	TSLS	TSYY	Difference
Max Drawdown Largest peak-to-trough decline	-90.73%	-41.52%	-49.21%
Max Drawdown (1Y) Largest decline over 1 year	-46.42%	-27.31%	-19.11%
Max Drawdown (3Y) Largest decline over 3 years	-84.16%	—	—
Current Drawdown Current decline from peak	-89.61%	-36.80%	-52.81%
Average Drawdown Average peak-to-trough decline	-63.47%	-25.86%	-37.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.75%	14.40%	+18.35%

Volatility

TSLS vs. TSYY - Volatility Comparison

Direxion Daily TSLA Bear 1X Shares (TSLS) has a higher volatility of 12.05% compared to GraniteShares YieldBOOST TSLA ETF (TSYY) at 4.87%. This indicates that TSLS's price experiences larger fluctuations and is considered to be riskier than TSYY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLS	TSYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.05%	4.87%	+7.18%
Volatility (6M) Calculated over the trailing 6-month period	27.72%	19.70%	+8.02%
Volatility (1Y) Calculated over the trailing 1-year period	46.68%	31.79%	+14.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.79%	37.58%	+21.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.79%	37.58%	+21.21%

TSLS vs. TSYY - Expense Ratio Comparison

TSLS has a 1.07% expense ratio, which is higher than TSYY's 0.99% expense ratio.

Dividends

TSLS vs. TSYY - Dividend Comparison

TSLS's dividend yield for the trailing twelve months is around 3.39%, less than TSYY's 283.26% yield.

Position	TTM	2025	2024	2023	2022
TSLS Direxion Daily TSLA Bear 1X Shares	3.39%	4.30%	7.62%	4.52%	3.46%
TSYY GraniteShares YieldBOOST TSLA ETF	283.26%	256.64%	0.19%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLS and TSYY in my portfolio?

TSLS and TSYY have a correlation of -0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLS or TSYY?

TSLS has higher volatility (12.05%) compared to TSYY (4.87%). In terms of maximum drawdown, TSLS dropped -90.73% vs TSYY's -41.52%.

Which ETF is better, TSLS or TSYY?

On 1-year performance, TSYY leads with -11.50% vs -29.14% for TSLS. On fees, TSYY is cheaper at 0.99% per year. On volatility, TSYY has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLS or TSYY?

Over the 1-year period, TSYY has performed better with a -11.50% return vs -29.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLS or TSYY?

TSYY is cheaper with a 0.99% expense ratio, compared with 1.07% for TSLS.

Which ETF pays a higher dividend yield, TSLS or TSYY?

TSYY has the higher dividend yield at 283.26%, compared with 3.39% for TSLS.

What is the main difference between TSLS and TSYY?

TSLS is categorized as Inverse Equities, while TSYY is Derivative Income. They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.07% for TSLS and 0.99% for TSYY.

Which has better risk-adjusted returns?

TSYY currently has the higher Sharpe Ratio (-0.36 vs -0.63), 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.