SH vs TSLS
ProShares Short S&P500 vs Direxion Daily TSLA Bear 1X ETF
Which is better, SH or TSLS?
Each has led over a different period.
SH has a lower expense ratio. SH led over 3Y and the full window, TSLS over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SH | TSLS |
|---|---|---|
| Expense Ratio | 0.89%Best | 0.95% |
| AUM | $977M | $60M |
| Dividend Yield | 4.28% | 2.81% |
| Holdings | 16 | 18 |
| YTD Return | -9.49% | +4.92%Best |
| 1Y Return | -11.21% | +2.13%Best |
| 3Y Return (annualized) | -14.42%Best | -32.63% |
| 5Y Return (annualized) | -9.10% | - |
| Volatility (annualized) | 13.6%Best | 59.2% |
| Max Drawdown | -46.4%Best | -90.7% |
| $10,000 over 4.2 years | $6,167Best | $2,468 |
| Fund Family | ProShares | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Jun 19, 2006 | Aug 9, 2022 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.2 years row, are measured over the window both funds cover: Aug 9, 2022 to Oct 12, 2026 (4.2 years).
SH vs TSLS growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.2 years both funds cover.
SH vs TSLS Performance
ProShares Short S&P500 (SH) is an ETF from ProShares and Direxion Daily TSLA Bear 1X ETF (TSLS) is an ETF from Direxion Shares ETF Trust. Over the past year SH returned -11.21% while TSLS returned +2.13%. Year to date, SH is down 9.49% versus a gain of 4.92% for TSLS.
Over three years, SH compounded at -14.42% per year against -32.63% for TSLS. Across the full 4-year window we track, SH has the edge at -10.87% annualized vs -28.33%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TSLS has been the more volatile fund, with annualized monthly volatility of 59.2% compared with 13.6% for SH. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -46.4% for SH and -90.7% for TSLS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.36. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SH charges 0.89% per year while TSLS charges 0.95%. On a $10,000 position that is $89 vs $95 annually, a gap of $6 per year that compounds over a long holding period. On income, SH currently yields 4.28% against 2.81% for TSLS.
Holdings Overlap
We hold position weights for 1 holding in SH and 3 in TSLS, totalling 83.9% and 96.4% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in SH and 3 in TSLS, against full books of 16 and 18.
You are not choosing between two funds in isolation.
Whichever of SH and TSLS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SH or TSLS?
SH has an expense ratio of 0.89% while TSLS charges 0.95%. SH is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, SH or TSLS?
Over the past year SH returned -11.21% vs +2.13% for TSLS, so TSLS leads on 1-year performance. Over the longest common window we track (4 years), SH annualized -10.87% vs -28.33% for TSLS. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SH or TSLS?
TSLS has been the more volatile fund at 59.2% annualized versus 13.6% for SH. Worst drawdown: SH -46.4% vs TSLS -90.7%.
Should I hold both SH and TSLS?
SH and TSLS have a monthly-return correlation of 0.36, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SH or TSLS?
SH yields 4.28% while TSLS yields 2.81%, so SH currently pays the higher dividend yield.
Is TSLS better than SH?
SH has a lower expense ratio. SH led over 3Y and the full window, TSLS over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.