TSLZ vs. TSLQ

Last updated Apr 1, 2026

Compare and contrast key facts about T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) and AXS TSLA Bear Daily ETF (TSLQ).

TSLZ and TSLQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TSLZ is an actively managed fund by T-Rex. It was launched on Oct 18, 2023. TSLQ is an actively managed fund by AXS. It was launched on Jul 13, 2022.

Performance

TSLZ vs. TSLQ - 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 AXS TSLA Bear Daily ETF (TSLQ). The values are adjusted to include any dividend payments, if applicable.

TSLZ vs. TSLQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	33.84%	-75.98%	-88.79%	-28.07%
TSLQ AXS TSLA Bear Daily ETF	35.41%	-74.67%	-83.21%	-12.98%

Returns By Period

The year-to-date returns for both investments are quite close, with TSLZ having a 33.84% return and TSLQ slightly higher at 35.41%.

TSLZ

• 1D: -9.26%
• 1M: 13.19%
• YTD: 33.84%
• 6M: 11.47%
• 1Y: -80.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLQ

• 1D: -9.13%
• 1M: 13.74%
• YTD: 35.41%
• 6M: 14.08%
• 1Y: -79.94%
• 3Y*: -64.97%
• 5Y*: —
• 10Y*: —

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

TSLZ vs. TSLQ - Expense Ratio Comparison

TSLZ has a 1.05% expense ratio, which is lower than TSLQ's 1.15% expense ratio.

TSLQ

AXS TSLA Bear Daily ETF

TSLZ

T-Rex 2X Inverse Tesla Daily Target ETF

Return for Risk

TSLZ vs. TSLQ — Risk / Return Rank

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

TSLZ

TSLZ Risk / Return Rank: 2
TSLZ Sharpe Ratio Rank: 2
TSLZ Sortino Ratio Rank: 1
TSLZ Omega Ratio Rank: 1
TSLZ Calmar Ratio Rank: 0
TSLZ Martin Ratio Rank: 4

TSLQ

TSLQ Risk / Return Rank: 2
TSLQ Sharpe Ratio Rank: 2
TSLQ Sortino Ratio Rank: 1
TSLQ Omega Ratio Rank: 1
TSLQ Calmar Ratio Rank: 1
TSLQ Martin Ratio Rank: 4

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.

TSLZ vs. TSLQ - 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 AXS TSLA Bear Daily ETF (TSLQ). 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	TSLQ	Difference
Sharpe ratio Return per unit of total volatility	-0.74	-0.72	-0.01
Sortino ratio Return per unit of downside risk	-1.20	-1.13	-0.07
Omega ratio Gain probability vs. loss probability	0.85	0.86	-0.01
Calmar ratio Return relative to maximum drawdown	-0.89	-0.88	-0.01
Martin ratio Return relative to average drawdown	-1.03	-1.02	-0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLZ vs. TSLQ - Sharpe Ratio Comparison

The current TSLZ Sharpe Ratio is -0.74, which is comparable to the TSLQ Sharpe Ratio of -0.72. The chart below compares the historical Sharpe Ratios of TSLZ and TSLQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TSLZ	TSLQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.74	-0.72	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	-0.65	-0.62	-0.03

Correlation

The correlation between TSLZ and TSLQ is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TSLZ vs. TSLQ - Dividend Comparison

TSLZ's dividend yield for the trailing twelve months is around 0.51%, less than TSLQ's 7.80% yield.

	TTM	2025	2024	2023	2022
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.51%	0.69%	2.08%	12.15%	0.00%
TSLQ AXS TSLA Bear Daily ETF	7.80%	10.56%	4.95%	13.35%	2.56%

Drawdowns

TSLZ vs. TSLQ - Drawdown Comparison

The maximum TSLZ drawdown since its inception was -99.11%, roughly equal to the maximum TSLQ drawdown of -98.73%. Use the drawdown chart below to compare losses from any high point for TSLZ and TSLQ.

Drawdown Indicators

	TSLZ	TSLQ	Difference
Max Drawdown Largest peak-to-trough decline	-99.11%	-98.73%	-0.38%
Max Drawdown (1Y) Largest decline over 1 year	-90.53%	-90.23%	-0.30%
Current Drawdown Current decline from peak	-98.59%	-97.98%	-0.61%
Average Drawdown Average peak-to-trough decline	-73.67%	-65.72%	-7.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	77.94%	77.62%	+0.32%

Volatility

TSLZ vs. TSLQ - Volatility Comparison

T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) and AXS TSLA Bear Daily ETF (TSLQ) have volatilities of 22.72% and 22.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLZ	TSLQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.72%	22.57%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	58.17%	59.42%	-1.25%
Volatility (1Y) Calculated over the trailing 1-year period	110.01%	110.66%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	119.13%	94.61%	+24.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	119.13%	94.61%	+24.52%