TSLY vs. TSLL
TSLY (YieldMax TSLA Option Income Strategy ETF) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - TSLY is a Options Trading fund actively managed by YieldMax, while TSLL is a Leveraged Equities fund actively managed by Direxion. Both are actively managed. Over the past 3 years, TSLY returned -0.29%/yr vs -20.90%/yr for TSLL. Their 0.97 correlation means they have historically moved very closely together. TSLY charges 1.07%/yr vs 0.83%/yr for TSLL.
Performance
TSLY vs. TSLL - Performance Comparison
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Returns By Period
In the year-to-date period, TSLY achieves a -24.18% return, which is significantly higher than TSLL's -61.15% return.
TSLY
- 1D
- 0.62%
- 1M
- -18.26%
- 6M
- -22.89%
- YTD
- -24.18%
- 1Y
- 7.14%
- 3Y*
- -0.29%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.31%
TSLL
- 1D
- 1.39%
- 1M
- -40.57%
- 6M
- -56.61%
- YTD
- -61.15%
- 1Y
- -25.18%
- 3Y*
- -20.90%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -23.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $724.83M | $679.97M | $948.78M | |
| $13.88M | $12.88M | $17.43M |
TSLY vs. TSLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSLY YieldMax TSLA Option Income Strategy ETF | -24.18% | 13.62% | 27.83% | 50.69% | -27.09% |
TSLL Direxion Daily TSLA Bull 2X ETF | -61.15% | -26.80% | 99.63% | 139.86% | -40.34% |
Correlation
The correlation between TSLY and TSLL is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022 | 0.97 |
The correlation between TSLY and TSLL has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
TSLY vs. TSLL — Risk / Return Rank
TSLY
TSLL
TSLY vs. TSLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax TSLA Option Income Strategy ETF (TSLY) 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.
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.
| TSLY | TSLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.02 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | -0.40 | +0.57 |
| Martin ratioReturn relative to average drawdown | 0.52 | -0.88 | +1.40 |
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Drawdowns
TSLY vs. TSLL - Drawdown Comparison
The maximum TSLY drawdown since its inception was -49.52%, smaller than the maximum TSLL drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for TSLY and TSLL.
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Drawdown Indicators
| TSLY | TSLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -82.88% | +33.36% |
Max Drawdown (1Y)Largest decline over 1 year | -31.78% | -70.13% | +38.35% |
Max Drawdown (3Y)Largest decline over 3 years | -49.52% | -82.88% | +33.36% |
Current DrawdownCurrent decline from peak | -29.10% | -80.38% | +51.28% |
Average DrawdownAverage peak-to-trough decline | -19.79% | -54.36% | +34.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.80% | 31.62% | -20.82% |
Volatility
TSLY vs. TSLL - Volatility Comparison
The current volatility for YieldMax TSLA Option Income Strategy ETF (TSLY) is 18.70%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 43.16%. This indicates that TSLY 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.
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Volatility by Period
| TSLY | TSLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.70% | 43.16% | -24.46% |
Volatility (6M)Calculated over the trailing 6-month period | 29.69% | 70.52% | -40.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.29% | 92.41% | -54.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.00% | 107.78% | -61.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.00% | 107.78% | -61.78% |
TSLY vs. TSLL - Expense Ratio Comparison
TSLY has a 1.07% expense ratio, which is higher than TSLL's 0.83% expense ratio.
Dividends
TSLY vs. TSLL - Dividend Comparison
TSLY's dividend yield for the trailing twelve months is around 111.92%, more than TSLL's 13.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TSLL Direxion Daily TSLA Bull 2X ETF | 13.48% | 5.00% | 2.47% | 4.44% | 1.57% |
TSLY YieldMax TSLA Option Income Strategy ETF | 111.92% | 91.19% | 82.30% | 76.47% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, TSLY 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.
TSLL has higher volatility (43.16%) compared to TSLY (18.70%). In terms of maximum drawdown, TSLY dropped -49.52% vs TSLL's -82.88%.
On 3-year performance, TSLY leads with -0.29% vs -20.90% for TSLL. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLY has been the lower-risk option at 18.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLY has performed better with a -0.29% return vs -20.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLL is cheaper with a 0.83% expense ratio, compared with 1.07% for TSLY.
TSLY has the higher dividend yield at 111.92%, compared with 13.48% for TSLL.
TSLY is categorized as Options Trading, while TSLL is Leveraged Equities. They also come from different issuers: YieldMax and Direxion. Their fees differ too: 1.07% for TSLY and 0.83% for TSLL.
TSLY currently has the higher Sharpe Ratio (0.15 vs -0.30), 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.
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