TSLT vs. UST

Last updated Jun 4, 2026

TSLT (T-Rex 2X Long Tesla Daily Target ETF) and UST (ProShares Ultra 7-10 Year Treasury) are both exchange-traded funds - TSLT is a Leveraged Equities fund actively managed by T-Rex, while UST is a Leveraged Bonds fund tracking the Barclays Capital U.S. 7-10 Year Treasury Index (200%). TSLT is actively managed, while UST is passively managed. Over the past year, TSLT returned 3.78% vs 3.81% for UST. At a 0.04 correlation, their price movements are largely independent. TSLT charges 1.05%/yr vs 0.95%/yr for UST.

Performance

TSLT vs. UST - 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 Ultra 7-10 Year Treasury (UST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLT achieves a -21.79% return, which is significantly lower than UST's -2.88% return.

TSLT

• 1D: -0.05%
• 1M: 13.53%
• YTD: -21.79%
• 6M: -22.60%
• 1Y: 3.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UST

• 1D: -0.56%
• 1M: -0.51%
• YTD: -2.88%
• 6M: -4.24%
• 1Y: 3.81%
• 3Y*: -0.51%
• 5Y*: -6.75%
• 10Y*: -2.13%

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

TSLT vs. UST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLT T-Rex 2X Long Tesla Daily Target ETF	-21.79%	-29.49%	54.17%	20.11%
UST ProShares Ultra 7-10 Year Treasury	-2.88%	10.26%	-6.19%	18.06%

Correlation

The correlation between TSLT and UST is 0.04, 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 (1Y) Calculated over the trailing 1-year period	0.04
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	0.04

TSLT vs. UST - Sectors Allocation Comparison

Sectors	TSLT	UST
Consumer Cyclical	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	97.4%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TSLT vs. UST — Risk / Return Rank

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

TSLT

TSLT Risk / Return Rank: 11
TSLT Sharpe Ratio Rank: 9
TSLT Sortino Ratio Rank: 15
TSLT Omega Ratio Rank: 15
TSLT Calmar Ratio Rank: 9
TSLT Martin Ratio Rank: 9

UST

UST Risk / Return Rank: 14
UST Sharpe Ratio Rank: 15
UST Sortino Ratio Rank: 13
UST Omega Ratio Rank: 13
UST Calmar Ratio Rank: 14
UST Martin Ratio Rank: 15

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. UST - 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 Ultra 7-10 Year Treasury (UST). 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.

	TSLT	UST	Difference
Sharpe ratio Return per unit of total volatility	0.04	0.40	-0.36
Sortino ratio Return per unit of downside risk	0.72	0.64	+0.08
Omega ratio Gain probability vs. loss probability	1.09	1.07	+0.01
Calmar ratio Return relative to maximum drawdown	0.07	0.44	-0.37
Martin ratio Return relative to average drawdown	0.14	1.26	-1.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLT vs. UST - Sharpe Ratio Comparison

The current TSLT Sharpe Ratio is 0.04, which is lower than the UST Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of TSLT and UST, 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

	TSLT	UST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.04	0.40	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.19	-0.19

Drawdowns

TSLT vs. UST - Drawdown Comparison

The maximum TSLT drawdown since its inception was -83.16%, which is greater than UST's maximum drawdown of -47.99%. Use the drawdown chart below to compare losses from any high point for TSLT and UST.

Drawdown Indicators

	TSLT	UST	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-47.99%	-35.17%
Max Drawdown (1Y) Largest decline over 1 year	-55.08%	-8.75%	-46.33%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.99%	—
Current Drawdown Current decline from peak	-62.01%	-38.33%	-23.68%
Average Drawdown Average peak-to-trough decline	-50.23%	-15.13%	-35.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.07%	3.03%	+24.04%

Volatility

TSLT vs. UST - Volatility Comparison

T-Rex 2X Long Tesla Daily Target ETF (TSLT) has a higher volatility of 24.38% compared to ProShares Ultra 7-10 Year Treasury (UST) at 3.10%. This indicates that TSLT's price experiences larger fluctuations and is considered to be riskier than UST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLT	UST	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.38%	3.10%	+21.28%
Volatility (6M) Calculated over the trailing 6-month period	54.35%	6.58%	+47.77%
Volatility (1Y) Calculated over the trailing 1-year period	92.40%	9.50%	+82.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	117.05%	15.47%	+101.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	117.05%	13.18%	+103.87%

TSLT vs. UST - Expense Ratio Comparison

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

Dividends

TSLT vs. UST - Dividend Comparison

TSLT has not paid dividends to shareholders, while UST's dividend yield for the trailing twelve months is around 3.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSLT T-Rex 2X Long Tesla Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UST ProShares Ultra 7-10 Year Treasury	3.49%	3.65%	4.09%	3.49%	0.47%	0.27%	0.53%	1.42%	1.71%	0.84%	0.64%	0.75%

Frequently Asked Questions

Can I hold both TSLT and UST in my portfolio?

TSLT and UST have a correlation of 0.04, 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 UST?

TSLT has higher volatility (24.38%) compared to UST (3.10%). In terms of maximum drawdown, TSLT dropped -83.16% vs UST's -47.99%.

Which ETF is better, TSLT or UST?

On 1-year performance, UST leads with 3.81% vs 3.78% for TSLT. On fees, UST is cheaper at 0.95% per year. On volatility, UST has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLT or UST?

Over the 1-year period, UST has performed better with a 3.81% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLT or UST?

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

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

UST has the higher dividend yield at 3.49%, compared with 0.00% for TSLT.

What is the main difference between TSLT and UST?

TSLT is categorized as Leveraged Equities, while UST is Leveraged Bonds. They also come from different issuers: T-Rex and ProShares. Their fees differ too: 1.05% for TSLT and 0.95% for UST.

Which has better risk-adjusted returns?

UST currently has the higher Sharpe Ratio (0.40 vs 0.04), 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.