TSLW vs. TSLL

Last updated Jun 4, 2026

TSLW (Roundhill TSLA WeeklyPay™ ETF) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - TSLW is a Derivative Income fund actively managed by Roundhill, while TSLL is a Leveraged Equities fund actively managed by Direxion. Both are actively managed. Over the past year, TSLW returned 20.22% vs 7.17% for TSLL. With a 1.00 correlation, they move nearly in lockstep. TSLW charges 0.99%/yr vs 0.83%/yr for TSLL.

Performance

TSLW vs. TSLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill TSLA WeeklyPay™ ETF (TSLW) and Direxion Daily TSLA Bull 2X ETF (TSLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLW achieves a -9.26% return, which is significantly higher than TSLL's -20.85% return.

TSLW

• 1D: -0.18%
• 1M: 9.09%
• YTD: -9.26%
• 6M: -9.14%
• 1Y: 20.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLL

• 1D: 0.00%
• 1M: 13.88%
• YTD: -20.85%
• 6M: -21.38%
• 1Y: 7.17%
• 3Y*: 9.79%
• 5Y*: —
• 10Y*: —

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

TSLW vs. TSLL - Yearly Performance Comparison

	2026 (YTD)	2025
TSLW Roundhill TSLA WeeklyPay™ ETF	-9.26%	33.77%
TSLL Direxion Daily TSLA Bull 2X ETF	-20.85%	36.60%

Correlation

The correlation between TSLW and TSLL is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025	1.00

The correlation between TSLW and TSLL has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

TSLW vs. TSLL — Risk / Return Rank

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

TSLW

TSLW Risk / Return Rank: 15
TSLW Sharpe Ratio Rank: 14
TSLW Sortino Ratio Rank: 17
TSLW Omega Ratio Rank: 17
TSLW Calmar Ratio Rank: 16
TSLW Martin Ratio Rank: 15

TSLL

TSLL Risk / Return Rank: 12
TSLL Sharpe Ratio Rank: 9
TSLL Sortino Ratio Rank: 15
TSLL Omega Ratio Rank: 15
TSLL Calmar Ratio Rank: 10
TSLL Martin Ratio Rank: 10

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.

TSLW vs. TSLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill TSLA WeeklyPay™ ETF (TSLW) and Direxion Daily TSLA Bull 2X ETF (TSLL). 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.

	TSLW	TSLL	Difference
Sharpe ratio: Return per unit of total volatility	0.37	0.08	+0.29
Sortino ratio: Return per unit of downside risk	0.87	0.77	+0.10
Omega ratio: Gain probability vs. loss probability	1.11	1.09	+0.01
Calmar ratio: Return relative to maximum drawdown	0.57	0.13	+0.44
Martin ratio: Return relative to average drawdown	1.29	0.27	+1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLW vs. TSLL - Sharpe Ratio Comparison

The current TSLW Sharpe Ratio is 0.37, which is higher than the TSLL Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of TSLW and TSLL, 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

	TSLW	TSLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	0.08	+0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	-0.08	+0.46

Drawdowns

TSLW vs. TSLL - Drawdown Comparison

The maximum TSLW drawdown since its inception was -35.80%, smaller than the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for TSLW and TSLL.

Drawdown Indicators

	TSLW	TSLL	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-82.88%	+47.08%
Max Drawdown (1Y) Largest decline over 1 year	-35.80%	-54.75%	+18.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-82.88%	—
Current Drawdown Current decline from peak	-18.23%	-60.03%	+41.80%
Average Drawdown Average peak-to-trough decline	-12.88%	-53.82%	+40.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.77%	26.72%	-10.95%

Volatility

TSLW vs. TSLL - Volatility Comparison

The current volatility for Roundhill TSLA WeeklyPay™ ETF (TSLW) is 14.56%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 24.26%. This indicates that TSLW experiences smaller price fluctuations and is considered to be less risky than TSLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLW	TSLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.56%	24.26%	-9.70%
Volatility (6M) Calculated over the trailing 6-month period	32.83%	54.47%	-21.64%
Volatility (1Y) Calculated over the trailing 1-year period	55.52%	92.38%	-36.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.52%	106.87%	-51.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.52%	106.87%	-51.35%

TSLW vs. TSLL - Expense Ratio Comparison

TSLW has a 0.99% expense ratio, which is higher than TSLL's 0.83% expense ratio.

Dividends

TSLW vs. TSLL - Dividend Comparison

TSLW's dividend yield for the trailing twelve months is around 84.61%, more than TSLL's 6.46% yield.

Position	TTM	2025	2024	2023	2022
TSLL Direxion Daily TSLA Bull 2X ETF	6.46%	5.00%	2.47%	4.44%	1.57%
TSLW Roundhill TSLA WeeklyPay™ ETF	84.61%	49.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLW and TSLL in my portfolio?

With a correlation of 1.00, TSLW and TSLL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TSLW or TSLL?

TSLL has higher volatility (24.26%) compared to TSLW (14.56%). In terms of maximum drawdown, TSLW dropped -35.80% vs TSLL's -82.88%.

Which ETF is better, TSLW or TSLL?

On 1-year performance, TSLW leads with 20.22% vs 7.17% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLW has been the lower-risk option at 14.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLW or TSLL?

Over the 1-year period, TSLW has performed better with a 20.22% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLW or TSLL?

TSLL is cheaper with a 0.83% expense ratio, compared with 0.99% for TSLW.

Which ETF pays a higher dividend yield, TSLW or TSLL?

TSLW has the higher dividend yield at 84.61%, compared with 6.46% for TSLL.

What is the main difference between TSLW and TSLL?

TSLW is categorized as Derivative Income, while TSLL is Leveraged Equities. They also come from different issuers: Roundhill and Direxion. Their fees differ too: 0.99% for TSLW and 0.83% for TSLL.

Which has better risk-adjusted returns?

TSLW currently has the higher Sharpe Ratio (0.37 vs 0.08), 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.