TSLZ vs. ONEQ
TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) and ONEQ (Fidelity Nasdaq Composite Index ETF) are both exchange-traded funds - TSLZ is a Inverse Equities fund actively managed by T-Rex, while ONEQ is a Large Cap Growth Equities fund tracking the Nasdaq Composite Index. TSLZ is actively managed, while ONEQ is passively managed. Over the past year, TSLZ returned -64.19% vs 39.62% for ONEQ. At a correlation of -0.59, they often move in opposite directions. TSLZ charges 1.05%/yr vs 0.21%/yr for ONEQ.
Performance
TSLZ vs. ONEQ - Performance Comparison
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Returns By Period
In the year-to-date period, TSLZ achieves a -5.69% return, which is significantly lower than ONEQ's 16.16% return.
TSLZ
- 1D
- -0.09%
- 1M
- -17.84%
- YTD
- -5.69%
- 6M
- -9.62%
- 1Y
- -64.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ONEQ
- 1D
- -0.85%
- 1M
- 7.21%
- YTD
- 16.16%
- 6M
- 15.18%
- 1Y
- 39.62%
- 3Y*
- 27.68%
- 5Y*
- 15.43%
- 10Y*
- 19.68%
TSLZ vs. ONEQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF | -5.69% | -75.98% | -88.79% | -28.07% |
ONEQ Fidelity Nasdaq Composite Index ETF | 16.16% | 20.89% | 29.30% | 14.55% |
Correlation
The correlation between TSLZ and ONEQ is -0.57, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023 | -0.59 |
The correlation between TSLZ and ONEQ has been stable across timeframes, ranging from -0.59 to -0.57 - a consistent structural relationship.
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Return for Risk
TSLZ vs. ONEQ — Risk / Return Rank
TSLZ
ONEQ
TSLZ vs. ONEQ - 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 Fidelity Nasdaq Composite Index ETF (ONEQ). 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.
| TSLZ | ONEQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.18 | ||
| Sortino ratioReturn per unit of downside risk | -4.20 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.43 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 3.15 | -3.99 |
| Martin ratioReturn relative to average drawdown | -1.06 | 12.46 | -13.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSLZ | ONEQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | 2.48 | -3.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.70 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.91 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.67 | 0.65 | -1.32 |
Drawdowns
TSLZ vs. ONEQ - Drawdown Comparison
The maximum TSLZ drawdown since its inception was -99.11%, which is greater than ONEQ's maximum drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for TSLZ and ONEQ.
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Drawdown Indicators
| TSLZ | ONEQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.11% | -55.09% | -44.02% |
Max Drawdown (1Y)Largest decline over 1 year | -76.62% | -12.64% | -63.98% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.09% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.23% | — |
Current DrawdownCurrent decline from peak | -99.01% | -0.85% | -98.16% |
Average DrawdownAverage peak-to-trough decline | -75.36% | -7.95% | -67.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.60% | 3.19% | +57.41% |
Volatility
TSLZ vs. ONEQ - Volatility Comparison
T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) has a higher volatility of 24.09% compared to Fidelity Nasdaq Composite Index ETF (ONEQ) at 4.20%. This indicates that TSLZ's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSLZ | ONEQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.09% | 4.20% | +19.89% |
Volatility (6M)Calculated over the trailing 6-month period | 54.94% | 11.96% | +42.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.64% | 16.05% | +75.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 117.04% | 22.14% | +94.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 117.04% | 21.71% | +95.33% |
TSLZ vs. ONEQ - Expense Ratio Comparison
TSLZ has a 1.05% expense ratio, which is higher than ONEQ's 0.21% expense ratio.
Dividends
TSLZ vs. ONEQ - Dividend Comparison
TSLZ's dividend yield for the trailing twelve months is around 0.73%, more than ONEQ's 0.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ONEQ Fidelity Nasdaq Composite Index ETF | 0.67% | 0.54% | 0.65% | 0.71% | 0.97% | 0.54% | 0.71% | 2.51% | 1.08% | 0.84% | 1.12% | 1.04% |
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF | 0.73% | 0.69% | 2.08% | 12.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSLZ and ONEQ have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLZ has higher volatility (24.09%) compared to ONEQ (4.20%). In terms of maximum drawdown, TSLZ dropped -99.11% vs ONEQ's -55.09%.
On 1-year performance, ONEQ leads with 39.62% vs -64.19% for TSLZ. On fees, ONEQ is cheaper at 0.21% per year. On volatility, ONEQ has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ONEQ has performed better with a 39.62% return vs -64.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ONEQ is cheaper with a 0.21% expense ratio, compared with 1.05% for TSLZ.
TSLZ has the higher dividend yield at 0.73%, compared with 0.67% for ONEQ.
TSLZ is categorized as Inverse Equities, while ONEQ is Large Cap Growth Equities. They also come from different issuers: T-Rex and Fidelity. Their fees differ too: 1.05% for TSLZ and 0.21% for ONEQ.
ONEQ currently has the higher Sharpe Ratio (2.48 vs -0.70), 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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