TSLZ vs. NVDQ

Last updated Aug 2, 2026

TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) and NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) are both Inverse Equities funds from T-Rex. Both are actively managed. Over the past year, TSLZ returned -48.25% vs -48.60% for NVDQ. Their 0.35 correlation means their historical movements had little consistent relationship. Both charge a 1.05% expense ratio.

Performance

TSLZ vs. NVDQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) and T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLZ achieves a 45.39% return, which is significantly higher than NVDQ's -32.56% return.

TSLZ

• 1D: -1.43%
• 1M: 44.35%
• 6M: 37.89%
• YTD: 45.39%
• 1Y: -48.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -71.84%

NVDQ

• 1D: -5.82%
• 1M: -9.94%
• 6M: -28.13%
• YTD: -32.56%
• 1Y: -48.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -82.74%

*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)
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	$23.89M	$29.47M	$56.41M
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	$39.89M	$35.72M	$42.79M

TSLZ vs. NVDQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	45.39%	-75.98%	-88.79%	-24.75%
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	-32.56%	-74.63%	-93.80%	-28.84%

Correlation

The correlation between TSLZ and NVDQ is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.35

Return for Risk

TSLZ vs. NVDQ — Risk / Return Rank

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

TSLZ

TSLZ Risk / Return Rank: 5
TSLZ Sharpe Ratio Rank: 5
TSLZ Sortino Ratio Rank: 6
TSLZ Omega Ratio Rank: 6
TSLZ Calmar Ratio Rank: 4
TSLZ Martin Ratio Rank: 5

NVDQ

NVDQ Risk / Return Rank: 4
NVDQ Sharpe Ratio Rank: 4
NVDQ Sortino Ratio Rank: 5
NVDQ Omega Ratio Rank: 5
NVDQ Calmar Ratio Rank: 3
NVDQ Martin Ratio Rank: 2

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.

TSLZ vs. NVDQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) and T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ). 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.

	TSLZ	NVDQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	-0.64	+0.13
Sortino ratio: Return per unit of downside risk	-0.33	-0.68	+0.35
Omega ratio: Gain probability vs. loss probability	0.96	0.92	+0.04
Calmar ratio: Return relative to maximum drawdown	-0.67	-0.76	+0.09
Martin ratio: Return relative to average drawdown	-0.82	-1.33	+0.51

TSLZ vs. NVDQ - Sharpe Ratio Comparison

The current TSLZ Sharpe Ratio is -0.51, which is comparable to the NVDQ Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of TSLZ and NVDQ, 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

TSLZ vs. NVDQ - Drawdown Comparison

The maximum TSLZ drawdown since its inception was -99.11%, roughly equal to the maximum NVDQ drawdown of -99.45%. Use the drawdown chart below to compare losses from any high point for TSLZ and NVDQ.

Drawdown Indicators

	TSLZ	NVDQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.11%	-99.45%	+0.34%
Max Drawdown (1Y) Largest decline over 1 year	-69.73%	-61.17%	-8.56%
Current Drawdown Current decline from peak	-98.47%	-99.32%	+0.85%
Average Drawdown Average peak-to-trough decline	-76.60%	-88.72%	+12.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.63%	34.78%	+21.85%

Volatility

TSLZ vs. NVDQ - Volatility Comparison

T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) has a higher volatility of 37.13% compared to T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) at 23.95%. This indicates that TSLZ's price experiences larger fluctuations and is considered to be riskier than NVDQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLZ	NVDQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	37.13%	23.95%	+13.18%
Volatility (6M) Calculated over the trailing 6-month period	67.39%	57.01%	+10.38%
Volatility (1Y) Calculated over the trailing 1-year period	91.79%	72.43%	+19.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	117.68%	94.76%	+22.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	117.68%	94.76%	+22.92%

TSLZ vs. NVDQ - Expense Ratio Comparison

Both TSLZ and NVDQ have an expense ratio of 1.05%.

Dividends

TSLZ vs. NVDQ - Dividend Comparison

TSLZ's dividend yield for the trailing twelve months is around 0.47%, more than NVDQ's 0.39% yield.

Position	TTM	2025	2024	2023
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF	0.39%	0.26%	4.59%	11.60%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.47%	0.69%	2.08%	12.15%

Frequently Asked Questions

Can I hold both TSLZ and NVDQ in my portfolio?

TSLZ and NVDQ have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLZ or NVDQ?

TSLZ has higher volatility (37.13%) compared to NVDQ (23.95%). In terms of maximum drawdown, TSLZ dropped -99.11% vs NVDQ's -99.45%.

Which ETF is better, TSLZ or NVDQ?

On 1-year performance, TSLZ leads with -48.25% vs -48.60% for NVDQ. Both ETFs have the same 1.05% expense ratio. On volatility, NVDQ has been the lower-risk option at 23.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLZ or NVDQ?

Over the 1-year period, TSLZ has performed better with a -48.25% return vs -48.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLZ or NVDQ?

TSLZ and NVDQ have the same expense ratio: 1.05% per year.

Which ETF pays a higher dividend yield, TSLZ or NVDQ?

TSLZ has the higher dividend yield at 0.47%, compared with 0.39% for NVDQ.

Which has better risk-adjusted returns?

TSLZ currently has the higher Sharpe Ratio (-0.51 vs -0.64), 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.