TSLT vs. ORLG

Last updated Jul 17, 2026

TSLT (T-Rex 2X Long Tesla Daily Target ETF) and ORLG (Leverage Shares 2X Long ORLY Daily ETF) are both Leveraged Equities funds - TSLT tracks the Tesla, Inc. (200%) while ORLG tracks the O'Reilly Automotive, Inc. (ORLY). Both are passively managed. At a correlation of -0.08, they often move in opposite directions. TSLT charges 1.05%/yr vs 0.75%/yr for ORLG.

Performance

TSLT vs. ORLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Tesla Daily Target ETF (TSLT) and Leverage Shares 2X Long ORLY Daily ETF (ORLG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TSLT

• 1D: -1.75%
• 1M: -9.96%
• 6M: -33.05%
• YTD: -37.06%
• 1Y: 4.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ORLG

• 1D: 8.37%
• 1M: -11.93%
• 6M: -23.86%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSLT vs. ORLG - Yearly Performance Comparison

	2026 (YTD)
TSLT T-Rex 2X Long Tesla Daily Target ETF	-33.45%
ORLG Leverage Shares 2X Long ORLY Daily ETF	-25.87%

Correlation

The correlation between TSLT and ORLG is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 15, 2026	-0.08

Return for Risk

TSLT vs. ORLG — Risk / Return Rank

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

TSLT

TSLT Risk / Return Rank: 12
TSLT Sharpe Ratio Rank: 10
TSLT Sortino Ratio Rank: 16
TSLT Omega Ratio Rank: 15
TSLT Calmar Ratio Rank: 10
TSLT Martin Ratio Rank: 10

ORLG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TSLT vs. ORLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Tesla Daily Target ETF (TSLT) and Leverage Shares 2X Long ORLY Daily ETF (ORLG). 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.

	TSLT	ORLG	Difference
Sharpe ratio: Return per unit of total volatility	0.05	—	—
Sortino ratio: Return per unit of downside risk	0.71	—	—
Omega ratio: Gain probability vs. loss probability	1.08	—	—
Calmar ratio: Return relative to maximum drawdown	0.07	—	—
Martin ratio: Return relative to average drawdown	0.14	—	—

Drawdowns

TSLT vs. ORLG - Drawdown Comparison

The maximum TSLT drawdown since its inception was -83.16%, which is greater than ORLG's maximum drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for TSLT and ORLG.

Drawdown Indicators

	TSLT	ORLG	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-39.93%	-43.23%
Max Drawdown (1Y) Largest decline over 1 year	-55.08%	—	—
Current Drawdown Current decline from peak	-69.43%	-34.91%	-34.52%
Average Drawdown Average peak-to-trough decline	-51.02%	-20.65%	-30.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.32%	—	—

Volatility

Volatility by Period

	TSLT	ORLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	62.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	89.08%	59.08%	+30.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	116.95%	59.08%	+57.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	116.95%	59.08%	+57.87%

TSLT vs. ORLG - Expense Ratio Comparison

TSLT has a 1.05% expense ratio, which is higher than ORLG's 0.75% expense ratio.

Dividends

TSLT vs. ORLG - Dividend Comparison

Neither TSLT nor ORLG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TSLT and ORLG in my portfolio?

TSLT and ORLG have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSLT or ORLG?

On fees, ORLG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSLT or ORLG?

ORLG is cheaper with a 0.75% expense ratio, compared with 1.05% for TSLT.

Which ETF pays a higher dividend yield, TSLT or ORLG?

TSLT and ORLG have nearly identical dividend yields, around 0.00%.

What is the main difference between TSLT and ORLG?

TSLT tracks Tesla, Inc. (200%), while ORLG tracks O'Reilly Automotive, Inc. (ORLY). They also come from different issuers: T-Rex and Leverage Shares. Their fees differ too: 1.05% for TSLT and 0.75% for ORLG.