TSLT vs. SBIT

Last updated Aug 2, 2026

TSLT (T-Rex 2X Long Tesla Daily Target ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - TSLT is a Leveraged Equities fund tracking the Tesla, Inc. (200%), while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, TSLT returned -27.14% vs 98.77% for SBIT. Their -0.39 correlation means they have often moved in opposite directions in the past. TSLT charges 1.05%/yr vs 0.95%/yr for SBIT.

Performance

TSLT vs. SBIT - 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 Proshares Ultrashort Bitcoin ETF (SBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLT achieves a -61.81% return, which is significantly lower than SBIT's 39.44% return.

TSLT

• 1D: 1.29%
• 1M: -40.70%
• 6M: -57.20%
• YTD: -61.81%
• 1Y: -27.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -23.82%

SBIT

• 1D: 5.60%
• 1M: -6.04%
• 6M: 32.41%
• YTD: 39.44%
• 1Y: 98.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -42.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SBIT Proshares Ultrashort Bitcoin ETF	$29.57M	$32.71M	$46.48M
TSLT T-Rex 2X Long Tesla Daily Target ETF	$37.83M	$41.41M	$54.11M

TSLT vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLT T-Rex 2X Long Tesla Daily Target ETF	-61.81%	-29.49%	241.88%
SBIT Proshares Ultrashort Bitcoin ETF	39.44%	-25.11%	-73.74%

Correlation

The correlation between TSLT and SBIT is -0.44, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.44
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.39

Return for Risk

TSLT vs. SBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSLT

TSLT Risk / Return Rank: 8
TSLT Sharpe Ratio Rank: 7
TSLT Sortino Ratio Rank: 11
TSLT Omega Ratio Rank: 10
TSLT Calmar Ratio Rank: 6
TSLT Martin Ratio Rank: 5

SBIT

SBIT Risk / Return Rank: 55
SBIT Sharpe Ratio Rank: 52
SBIT Sortino Ratio Rank: 56
SBIT Omega Ratio Rank: 52
SBIT Calmar Ratio Rank: 68
SBIT Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSLT vs. SBIT - 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 Proshares Ultrashort Bitcoin ETF (SBIT). 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	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	1.27	-1.60
Sortino ratio: Return per unit of downside risk	0.12	1.95	-1.83
Omega ratio: Gain probability vs. loss probability	1.01	1.23	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.43	2.35	-2.77
Martin ratio: Return relative to average drawdown	-0.94	5.19	-6.12

TSLT vs. SBIT - Sharpe Ratio Comparison

The current TSLT Sharpe Ratio is -0.33, which is lower than the SBIT Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of TSLT and SBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TSLT vs. SBIT - Drawdown Comparison

The maximum TSLT drawdown since its inception was -83.16%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for TSLT and SBIT.

Drawdown Indicators

	TSLT	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-91.35%	+8.19%
Max Drawdown (1Y) Largest decline over 1 year	-70.65%	-47.94%	-22.71%
Current Drawdown Current decline from peak	-81.45%	-77.87%	-3.58%
Average Drawdown Average peak-to-trough decline	-51.45%	-69.07%	+17.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.01%	21.67%	+10.34%

Volatility

TSLT vs. SBIT - Volatility Comparison

T-Rex 2X Long Tesla Daily Target ETF (TSLT) has a higher volatility of 43.62% compared to Proshares Ultrashort Bitcoin ETF (SBIT) at 18.09%. This indicates that TSLT's price experiences larger fluctuations and is considered to be riskier than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLT	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.62%	18.09%	+25.53%
Volatility (6M) Calculated over the trailing 6-month period	70.67%	67.10%	+3.57%
Volatility (1Y) Calculated over the trailing 1-year period	92.45%	88.65%	+3.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	117.71%	96.10%	+21.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	117.71%	96.10%	+21.61%

TSLT vs. SBIT - Expense Ratio Comparison

TSLT has a 1.05% expense ratio, which is higher than SBIT's 0.95% expense ratio.

Dividends

TSLT vs. SBIT - Dividend Comparison

TSLT has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 4.10%.

Position	TTM	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	4.03%	0.52%	1.00%
TSLT T-Rex 2X Long Tesla Daily Target ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLT and SBIT in my portfolio?

TSLT and SBIT have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLT or SBIT?

TSLT has higher volatility (43.62%) compared to SBIT (18.09%). In terms of maximum drawdown, TSLT dropped -83.16% vs SBIT's -91.35%.

Which ETF is better, TSLT or SBIT?

On 1-year performance, SBIT leads with 98.77% vs -27.14% for TSLT. On fees, SBIT is cheaper at 0.95% per year. On volatility, SBIT has been the lower-risk option at 18.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLT or SBIT?

Over the 1-year period, SBIT has performed better with a 98.77% return vs -27.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLT or SBIT?

SBIT is cheaper with a 0.95% expense ratio, compared with 1.05% for TSLT.

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

SBIT has the higher dividend yield at 4.03%, compared with 0.00% for TSLT.

What is the main difference between TSLT and SBIT?

TSLT is categorized as Leveraged Equities, while SBIT is Cryptocurrency. TSLT tracks Tesla, Inc. (200%), while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: T-Rex and ProShares. Their fees differ too: 1.05% for TSLT and 0.95% for SBIT.

Which has better risk-adjusted returns?

SBIT currently has the higher Sharpe Ratio (1.27 vs -0.33), 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.