TSLS vs. YQQQ

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily TSLA Bear 1X Shares (TSLS) and YieldMax Short N100 Option Income Strategy ETF (YQQQ).

TSLS and YQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TSLS is a passively managed fund by Direxion that tracks the performance of the Tesla Inc (--100%). It was launched on Aug 8, 2022. YQQQ is an actively managed fund by YieldMax. It was launched on Aug 14, 2024.

Performance

TSLS vs. YQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSLA Bear 1X Shares (TSLS) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). The values are adjusted to include any dividend payments, if applicable.

TSLS vs. YQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLS Direxion Daily TSLA Bear 1X Shares	19.60%	-34.95%	-54.93%
YQQQ YieldMax Short N100 Option Income Strategy ETF	11.80%	-9.97%	-4.06%

Returns By Period

In the year-to-date period, TSLS achieves a 19.60% return, which is significantly higher than YQQQ's 11.80% return.

TSLS

• 1D: -4.60%
• 1M: 7.51%
• YTD: 19.60%
• 6M: 13.90%
• 1Y: -44.43%
• 3Y*: -36.45%
• 5Y*: —
• 10Y*: —

YQQQ

• 1D: -2.73%
• 1M: 6.61%
• YTD: 11.80%
• 6M: 13.19%
• 1Y: -6.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLS vs. YQQQ - Expense Ratio Comparison

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

TSLS

Direxion Daily TSLA Bear 1X Shares

YQQQ

YieldMax Short N100 Option Income Strategy ETF

Return for Risk

TSLS vs. YQQQ — Risk / Return Rank

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

TSLS

TSLS Risk / Return Rank: 2
TSLS Sharpe Ratio Rank: 1
TSLS Sortino Ratio Rank: 2
TSLS Omega Ratio Rank: 2
TSLS Calmar Ratio Rank: 2
TSLS Martin Ratio Rank: 5

YQQQ

YQQQ Risk / Return Rank: 6
YQQQ Sharpe Ratio Rank: 5
YQQQ Sortino Ratio Rank: 5
YQQQ Omega Ratio Rank: 4
YQQQ Calmar Ratio Rank: 8
YQQQ Martin Ratio Rank: 9

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. YQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bear 1X Shares (TSLS) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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	YQQQ	Difference
Sharpe ratio Return per unit of total volatility	-0.80	-0.38	-0.42
Sortino ratio Return per unit of downside risk	-1.02	-0.39	-0.63
Omega ratio Gain probability vs. loss probability	0.87	0.94	-0.07
Calmar ratio Return relative to maximum drawdown	-0.69	-0.25	-0.45
Martin ratio Return relative to average drawdown	-0.89	-0.33	-0.57
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. YQQQ - Sharpe Ratio Comparison

The current TSLS Sharpe Ratio is -0.80, which is lower than the YQQQ Sharpe Ratio of -0.38. The chart below compares the historical Sharpe Ratios of TSLS and YQQQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TSLS	YQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.80	-0.38	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	-0.50	-0.13	-0.37

Correlation

The correlation between TSLS and YQQQ is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TSLS vs. YQQQ - Dividend Comparison

TSLS's dividend yield for the trailing twelve months is around 2.92%, less than YQQQ's 27.35% yield.

	TTM	2025	2024	2023	2022
TSLS Direxion Daily TSLA Bear 1X Shares	2.92%	4.30%	7.62%	4.52%	3.46%
YQQQ YieldMax Short N100 Option Income Strategy ETF	27.35%	31.71%	7.88%	0.00%	0.00%

Drawdowns

TSLS vs. YQQQ - Drawdown Comparison

The maximum TSLS drawdown since its inception was -90.73%, which is greater than YQQQ's maximum drawdown of -24.85%. Use the drawdown chart below to compare losses from any high point for TSLS and YQQQ.

Drawdown Indicators

	TSLS	YQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-90.73%	-24.85%	-65.88%
Max Drawdown (1Y) Largest decline over 1 year	-62.78%	-24.85%	-37.93%
Current Drawdown Current decline from peak	-87.94%	-11.80%	-76.14%
Average Drawdown Average peak-to-trough decline	-62.27%	-13.36%	-48.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.80%	18.66%	+30.14%

Volatility

TSLS vs. YQQQ - Volatility Comparison

Direxion Daily TSLA Bear 1X Shares (TSLS) has a higher volatility of 11.33% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 5.23%. This indicates that TSLS's price experiences larger fluctuations and is considered to be riskier than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLS	YQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.33%	5.23%	+6.10%
Volatility (6M) Calculated over the trailing 6-month period	30.25%	9.36%	+20.89%
Volatility (1Y) Calculated over the trailing 1-year period	55.71%	17.29%	+38.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.46%	16.38%	+43.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.46%	16.38%	+43.08%