TSYX vs. SAA

Last updated Jun 3, 2026

TSYX (TSPY Lift ETF) and SAA (ProShares Ultra SmallCap600) are both Leveraged Equities funds. TSYX is actively managed, while SAA is passively managed. A 0.73 correlation means they provide meaningful diversification when combined. TSYX charges 0.98%/yr vs 0.95%/yr for SAA.

Performance

TSYX vs. SAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TSPY Lift ETF (TSYX) and ProShares Ultra SmallCap600 (SAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TSYX

• 1D: 0.35%
• 1M: 6.39%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SAA

• 1D: 1.62%
• 1M: 2.29%
• YTD: 30.42%
• 6M: 31.77%
• 1Y: 66.46%
• 3Y*: 18.34%
• 5Y*: 1.66%
• 10Y*: 11.62%

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

TSYX vs. SAA - Yearly Performance Comparison

	2026 (YTD)
TSYX TSPY Lift ETF	8.88%
SAA ProShares Ultra SmallCap600	23.53%

Correlation

The correlation between TSYX and SAA is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	0.73

Return for Risk

TSYX vs. SAA — Risk / Return Rank

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

SAA

SAA Risk / Return Rank: 57
SAA Sharpe Ratio Rank: 53
SAA Sortino Ratio Rank: 52
SAA Omega Ratio Rank: 48
SAA Calmar Ratio Rank: 70
SAA Martin Ratio Rank: 62

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.

TSYX vs. SAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TSPY Lift ETF (TSYX) and ProShares Ultra SmallCap600 (SAA). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TSYX	SAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.86	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.04	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	0.19	+1.13

Drawdowns

TSYX vs. SAA - Drawdown Comparison

The maximum TSYX drawdown since its inception was -13.39%, smaller than the maximum SAA drawdown of -87.39%. Use the drawdown chart below to compare losses from any high point for TSYX and SAA.

Drawdown Indicators

	TSYX	SAA	Difference
Max Drawdown Largest peak-to-trough decline	-13.39%	-87.39%	+74.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.21%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-50.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-55.37%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-74.54%	—
Current Drawdown Current decline from peak	0.00%	-2.71%	+2.71%
Average Drawdown Average peak-to-trough decline	-3.00%	-27.43%	+24.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.63%	—

Volatility

Volatility by Period

	TSYX	SAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	35.90%	-17.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.30%	43.53%	-25.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.30%	46.13%	-27.83%

TSYX vs. SAA - Expense Ratio Comparison

TSYX has a 0.98% expense ratio, which is higher than SAA's 0.95% expense ratio.

Dividends

TSYX vs. SAA - Dividend Comparison

TSYX's dividend yield for the trailing twelve months is around 5.77%, more than SAA's 0.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SAA ProShares Ultra SmallCap600	0.77%	1.05%	1.36%	0.88%	0.46%	0.00%	0.03%	0.35%	0.27%	0.00%	0.14%
TSYX TSPY Lift ETF	5.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSYX and SAA in my portfolio?

TSYX and SAA have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSYX or SAA?

On fees, SAA is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSYX or SAA?

SAA is cheaper with a 0.95% expense ratio, compared with 0.98% for TSYX.

Which ETF pays a higher dividend yield, TSYX or SAA?

TSYX has the higher dividend yield at 5.77%, compared with 0.77% for SAA.

What is the main difference between TSYX and SAA?

They also come from different issuers: TappAlpha and ProShares. Their fees differ too: 0.98% for TSYX and 0.95% for SAA.