UPSX vs. TSLQ

Last updated Jul 16, 2026

UPSX (Tradr 2X Long UPST Daily ETF) and TSLQ (Tradr 2X Short TSLA Daily ETF) are both exchange-traded funds - UPSX is a Leveraged Equities fund actively managed by Tradr, while TSLQ is a Inverse Equities fund actively managed by Tradr. Both are actively managed. Over the past year, UPSX returned -90.97% vs -59.82% for TSLQ. At a correlation of -0.31, they often move in opposite directions. UPSX charges 1.30%/yr vs 1.17%/yr for TSLQ.

Performance

UPSX vs. TSLQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long UPST Daily ETF (UPSX) and Tradr 2X Short TSLA Daily ETF (TSLQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UPSX achieves a -64.14% return, which is significantly lower than TSLQ's 1.43% return.

UPSX

• 1D: -1.87%
• 1M: -9.25%
• 6M: -67.34%
• YTD: -64.14%
• 1Y: -90.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLQ

• 1D: 1.66%
• 1M: -0.59%
• 6M: -2.69%
• YTD: 1.43%
• 1Y: -59.82%
• 3Y*: -63.88%
• 5Y*: —
• 10Y*: —

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

UPSX vs. TSLQ - Yearly Performance Comparison

	2026 (YTD)	2025
UPSX Tradr 2X Long UPST Daily ETF	-64.14%	-61.18%
TSLQ Tradr 2X Short TSLA Daily ETF	1.43%	-66.36%

Correlation

The correlation between UPSX and TSLQ is -0.33, 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	-0.33
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	-0.31

Return for Risk

UPSX vs. TSLQ — Risk / Return Rank

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

UPSX

UPSX Risk / Return Rank: 3
UPSX Sharpe Ratio Rank: 4
UPSX Sortino Ratio Rank: 2
UPSX Omega Ratio Rank: 2
UPSX Calmar Ratio Rank: 1
UPSX Martin Ratio Rank: 4

TSLQ

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

UPSX vs. TSLQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long UPST Daily ETF (UPSX) and Tradr 2X Short TSLA 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.

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.

	UPSX	TSLQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	-0.67	+0.01
Sortino ratio: Return per unit of downside risk	-1.32	-0.79	-0.53
Omega ratio: Gain probability vs. loss probability	0.85	0.91	-0.07
Calmar ratio: Return relative to maximum drawdown	-0.96	-0.87	-0.09
Martin ratio: Return relative to average drawdown	-1.16	-1.09	-0.07

UPSX vs. TSLQ - Sharpe Ratio Comparison

The current UPSX Sharpe Ratio is -0.66, which is comparable to the TSLQ Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of UPSX and TSLQ, 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

UPSX vs. TSLQ - Drawdown Comparison

The maximum UPSX drawdown since its inception was -95.01%, roughly equal to the maximum TSLQ drawdown of -98.73%. Use the drawdown chart below to compare losses from any high point for UPSX and TSLQ.

Drawdown Indicators

	UPSX	TSLQ	Difference
Max Drawdown Largest peak-to-trough decline	-95.01%	-98.73%	+3.72%
Max Drawdown (1Y) Largest decline over 1 year	-95.01%	-69.32%	-25.69%
Max Drawdown (3Y) Largest decline over 3 years	—	-97.85%	—
Current Drawdown Current decline from peak	-92.94%	-98.49%	+5.55%
Average Drawdown Average peak-to-trough decline	-68.47%	-68.10%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	78.23%	54.82%	+23.41%

Volatility

UPSX vs. TSLQ - Volatility Comparison

The current volatility for Tradr 2X Long UPST Daily ETF (UPSX) is 30.52%, while Tradr 2X Short TSLA Daily ETF (TSLQ) has a volatility of 34.22%. This indicates that UPSX experiences smaller price fluctuations and is considered to be less risky than TSLQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UPSX	TSLQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.52%	34.22%	-3.70%
Volatility (6M) Calculated over the trailing 6-month period	99.85%	62.84%	+37.01%
Volatility (1Y) Calculated over the trailing 1-year period	138.21%	89.43%	+48.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	138.64%	94.77%	+43.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	138.64%	94.77%	+43.87%

UPSX vs. TSLQ - Expense Ratio Comparison

UPSX has a 1.30% expense ratio, which is higher than TSLQ's 1.17% expense ratio.

Dividends

UPSX vs. TSLQ - Dividend Comparison

UPSX has not paid dividends to shareholders, while TSLQ's dividend yield for the trailing twelve months is around 10.41%.

Position	TTM	2025	2024	2023	2022
TSLQ Tradr 2X Short TSLA Daily ETF	10.41%	10.56%	4.95%	13.35%	2.56%
UPSX Tradr 2X Long UPST Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UPSX and TSLQ in my portfolio?

UPSX and TSLQ have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UPSX or TSLQ?

TSLQ has higher volatility (34.22%) compared to UPSX (30.52%). In terms of maximum drawdown, UPSX dropped -95.01% vs TSLQ's -98.73%.

Which ETF is better, UPSX or TSLQ?

On 1-year performance, TSLQ leads with -59.82% vs -90.97% for UPSX. On fees, TSLQ is cheaper at 1.17% per year. On volatility, UPSX has been the lower-risk option at 30.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UPSX or TSLQ?

Over the 1-year period, TSLQ has performed better with a -59.82% return vs -90.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UPSX or TSLQ?

TSLQ is cheaper with a 1.17% expense ratio, compared with 1.30% for UPSX.

Which ETF pays a higher dividend yield, UPSX or TSLQ?

TSLQ has the higher dividend yield at 10.41%, compared with 0.00% for UPSX.

What is the main difference between UPSX and TSLQ?

UPSX is categorized as Leveraged Equities, while TSLQ is Inverse Equities. Their fees differ too: 1.30% for UPSX and 1.17% for TSLQ.

Which has better risk-adjusted returns?

UPSX currently has the higher Sharpe Ratio (-0.66 vs -0.67), 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.