TEST vs TSII vs TSLP vs TSLW vs TSYY: Which Fits Each Goal in 2026?
A side-by-side comparison of YieldMax TSLA Performance & Distribution Target 25 ETF, REX TSLA Growth & Income ETF, Kurv Yield Premium Strategy Tesla ETF, Roundhill TSLA WeeklyPay ETF and GraniteShares YieldBOOST TSLA ETF covering yield, cost, risk, and income potential.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
TEST tops the group over the year to date with a -16.35% total return, against TSII at -22.30%, TSLP at -25.13%, TSLW at -26.05% and TSYY at -17.52%. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Nov 2025” measures every fund from November 18, 2025 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Nov 2025. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the shared window since Nov 2025) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Distribution rate, SEC yield and return of capital
Metric
TEST
TSII
TSLP
TSLW
TSYY
Forward distribution rate
26.37%
47.71%
26.52%
45.00%
47.57%
Trailing 12-month yield
26.45%
96.14%
34.25%
88.31%
190.68%
30-day SEC yield
3.11%
3.20%
2.91%
—
0.83%
Return of capital
88.35%
97.00%
—
100.00%
—
Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Blend Tesla exposure with a high-income covered call overlay targeting roughly 25% annualized yield.
Designed to generate weekly income and retain Tesla upside by combining a stock position with a
call spread and protective put overlay.
Kurv Yield Premium Strategy Tesla (TSLA) ETF seeks to provide current income while maintaining the opportunity for exposure to the share price of the common stock of Tesla, Inc., subject to a limit on potential investment gains.
TSLW targets weekly payouts and 120% of the weekly total return of Tesla before fees.
Seeks to provide weekly income through selling near-the-money put spreads on leveraged ETFs linked to Tesla, with built-in risk control through the put spread collar structure.
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
Capped upside and premium dependence. TEST, TSII, TSLP, and TSYY generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
Daily leverage reset. TSLW and TSYY target a multiple of the index's DAILY move, resetting every session. Over weeks and months the compounding of daily resets (volatility decay) can drag returns far below the stated multiple, especially in choppy markets — and losses are magnified the same way gains are.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.
See our curated list of related YouTube videos on TEST.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
REX Shares is known for specializing in options-based and thematic ETF strategies, offering 23 funds organized across distinct families including Covered Call, IncomeMax Option Strategy, and MicroSectors products. The fund lineup emphasizes income generation through option strategies and sector-specific exposure, with holdings spanning technology, commodities, and alternative assets. REX Shares targets investors seeking non-traditional income approaches and concentrated sector bets, positioning itself in a niche segment focused on structured strategies rather than broad market indexing.
See our curated list of related YouTube videos on TSII.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Kurv is known for developing actively managed, single-stock and thematic covered call ETFs that generate income through options strategies. The issuer's lineup spans fixed income, growth and income, precious metals strategies, and thematic investing approaches, with a notable focus on single-stock income products tied to mega-cap technology and consumer companies. Kurv's breadth includes both traditional covered call strategies and more specialized offerings in metals and sector-specific themes, appealing to investors seeking equity income across various market segments.
See our curated list of related YouTube videos on TSLP.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Roundhill Investments is known for offering innovative, specialized ETFs that often feature weekly dividend distributions and exposure to trending themes and individual mega-cap stocks. Their lineup spans income-focused strategies, leveraged products, thematic investments in areas like cryptocurrency and artificial intelligence, and weekly-pay funds that appeal to investors seeking frequent distributions. The issuer has built a distinctive niche with products targeting both traditional income seekers and those interested in emerging sectors, offering a diverse range of tickers that go well beyond conventional dividend vehicles.
See our curated list of related YouTube videos on TSLW.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
GraniteShares is known for offering specialized ETF strategies that extend beyond traditional equity and bond investing, particularly through structured products and income-focused solutions. The firm manages 48 ETFs organized around distinct fund families including Autocallable products, Commodities, Income strategies, Leveraged exposures, and their YieldBOOST line designed to enhance distributions. GraniteShares targets investors seeking alternative income generation methods and commodity access, with popular tickers like AHD, CRY, and FBL representing their diverse approach to yield enhancement and alternative asset classes.
See our curated list of related YouTube videos on TSYY.
TEST (YieldMax TSLA Performance & Distribution Target 25 ETF), TSII (REX TSLA Growth & Income ETF), TSLP (Kurv Yield Premium Strategy Tesla ETF), TSLW (Roundhill TSLA WeeklyPay ETF), TSYY (GraniteShares YieldBOOST TSLA ETF) are dividend ETFs that take different approaches.
TSII offers the highest reported yield at 47.71%, followed by TSYY at 47.57%, TSLW at 45.00%, TSLP at 26.52%, TEST at 26.37%.
TSLW is the cheapest with an expense ratio of 0.99%, compared to 1.00% for TSLP and 1.01% for TEST and 1.15% for TSYY and 1.52% for TSII.
TSYY is the largest fund by assets ($60.6M), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment: TEST generates ~$50.71 cash per distribution, TSII generates ~$91.75 cash per distribution, TSLP generates ~$221.00 cash per distribution, TSLW generates ~$86.54 cash per distribution, TSYY generates ~$91.48 cash per distribution at current distribution rates.
TEST yield26.37%
TSII yield47.71%
TSLP yield26.52%
TSLW yield45.00%
TSYY yield47.57%
Cost & efficiency
Over 10 years on $10,000: TEST costs ~$1,010, TSII costs ~$1,520, TSLP costs ~$1,000, TSLW costs ~$990, TSYY costs ~$1,150 in fees (simplified, not compounded).
TEST ER1.01%
TSII ER1.52%
TSLP ER1.00%
TSLW ER0.99%
TSYY ER1.15%
Strategy & risk
TEST tracks Tesla (TSLA) with a covered call approach; TSII tracks Tesla (TSLA) with an options approach; TSLP tracks Tesla (TSLA) with a covered call approach; TSLW tracks Tesla (TSLA) with a leverage approach; TSYY tracks Tesla (TSLA).
TEST beta1.4885
TSII beta2.1635
TSLP beta1.9741
TSLW beta2.4707
TSYY beta1.4042
Fund details
TEST is managed by YieldMax (launched 11/17/2025) with $3.76M in assets. TSII is managed by REX Shares (launched 06/04/2025) with $31.6M in assets. TSLP is managed by Kurv (launched 10/26/2023) with $17.6M in assets. TSLW is managed by Roundhill Investments (launched 02/19/2025) with $970,199 in assets. TSYY is managed by GraniteShares (launched 12/18/2024) with $60.6M in assets.
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Frequently asked questions
Which of TEST, TSII, TSLP, TSLW, and TSYY is best for dividend income?
It depends on your goals. TSII currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and funds without an established distribution history have no comparable yield to evaluate. Consider your time horizon and risk tolerance.
What is the difference between TEST, TSII, TSLP, TSLW, and TSYY?
TEST (YieldMax TSLA Performance & Distribution Target 25 ETF) tracks Tesla (TSLA) with a covered call approach, issued by YieldMax. TSII (REX TSLA Growth & Income ETF) tracks Tesla (TSLA) with an options approach, issued by REX Shares. TSLP (Kurv Yield Premium Strategy Tesla ETF) tracks Tesla (TSLA) with a covered call approach, issued by Kurv. TSLW (Roundhill TSLA WeeklyPay ETF) tracks Tesla (TSLA) with a leverage approach, issued by Roundhill Investments. TSYY (GraniteShares YieldBOOST TSLA ETF) tracks Tesla (TSLA), issued by GraniteShares.
Can I hold TEST, TSII, TSLP, TSLW, and TSYY together?
Yes — nothing prevents holding them together. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which of TEST, TSII, TSLP, TSLW and TSYY is safest?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — TSLW scores 58, TEST scores 49, TSII scores 49, TSLP scores 49, TSYY scores 49, so TSLW's payout currently looks the more resilient of the group. TSYY has also shown lower price volatility (beta 1.40 vs 2.47 for TSLW). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.
Which has the lowest fees among TEST, TSII, TSLP, TSLW, and TSYY?
TEST has an expense ratio of 1.01%, TSII has an expense ratio of 1.52%, TSLP has an expense ratio of 1.00%, TSLW has an expense ratio of 0.99%, TSYY has an expense ratio of 1.15%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 generate in each?
$10,000 in TEST yields ~$50.71 cash per distribution ($2,637.00/year). $10,000 in TSII yields ~$91.75 cash per distribution ($4,771.00/year). $10,000 in TSLP yields ~$221.00 cash per distribution ($2,652.00/year). $10,000 in TSLW yields ~$86.54 cash per distribution ($4,500.00/year). $10,000 in TSYY yields ~$91.48 cash per distribution ($4,757.00/year).
Explore related screeners
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TEST vs TSII vs TSLP vs TSLW vs TSYY — at a glance
Generated September 26, 2026.
Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.
Overview
These five ETFs all target Tesla exposure with high-income overlays, but they differ fundamentally in mechanics and leverage. TEST, TSLP, and TSYY use single-stock covered calls or put spreads to generate income while capping upside. TSII layers a call spread with a protective put for a synthetic structure. TSLW is leveraged, targeting 120% of Tesla's weekly return before fees and delivering the highest dollar beta. All five launched recently (TSLP excepted), making historical performance scarce and forward distributions speculative.
How they differ
The single biggest difference is leverage and structural approach. TSLW explicitly targets 120% of Tesla's weekly return and carries a 2.4707 beta—the highest of the group—while the others (1.4885, 2.1635, 1.9741, 1.4042) mix plain stock with options overlays. TSII's 47.71% distribution rate is the second-highest but backed by a derivative strategy designed to preserve upside; TEST, TSLP, and TSYY aim for income via covered calls or put spreads, capping gains in exchange for premium. Expense ratios cluster tightly (1.01% to 1.52%), with TSLW and TEST cheapest.
Who each is best for
TEST: Fits investors seeking moderate Tesla exposure with a weekly income stream, who are willing to cap upside in exchange for a 1.01% fee and 26.37% yield, and who have a moderate risk tolerance (1.4885 beta).
TSII: Designed for income-focused investors who want weekly payouts and are comfortable with a synthetic call-spread-and-put collar approach; the 2.1635 beta and 47.71% yield come with derivative complexity and higher fees (1.52%).
TSLW: Appeals to investors seeking leveraged Tesla exposure with weekly distributions, highest dollar beta (2.4707), and amplified returns or losses; best for those with short time horizons and high risk tolerance.
Key risks to know
NAV erosion at high distribution yields. All five funds sport annualized distribution rates ranging from 26.37% (lowest) to 47.71% (highest). When total return of the underlying Tesla stock falls short of these payouts, the funds erode net asset value over time. This risk intensifies in market downturns or periods of Tesla underperformance.
Single-stock concentration and volatility amplification. Each fund holds only Tesla; there is no diversification. Coupled with elevated betas—notably 2.4707 for TSLW and 2.1635 for TSII—these funds magnify Tesla's price swings, potentially exceeding the 1.5x–2.5x swing of the underlying stock.
Options and derivatives gamma/theta tradeoffs.TEST, TSII, TSLP, and TSYY all rely on selling options premium (covered calls, call spreads, put spreads). As Tesla's implied volatility declines or time decay slows, the premium available shrinks, forcing managers either to tighten strikes (accepting lower income) or to roll into less favorable terms. TSII's protective put and TSYY's put-spread collar add tail-risk hedging cost that may not materialize if Tesla rallies. TSYY's $60.6M is more robust but still concentrated among five new entrants to the space.
Weekly distribution sustainability.TEST, TSII, TSLW, and TSYY all distribute weekly. In a sustained market downturn, funds may be forced to suspend or cut payouts, or to distribute return of capital if Tesla's total return cannot cover the payout rate. The youngest funds (TSII, TEST, TSLW, TSYY all launched in 2024–2025) lack a full market cycle of history to validate these payouts.
Bottom line
If you value income consistency and modest upside capping, TEST or TSLP offer lower fees and moderate leverage; if you prioritize maximum income and accept synthetic derivatives, TSII and TSYY offer higher yields but with more complexity and smaller asset bases. TSLW is for leveraged Tesla bettors willing to chase 120% of Tesla's weekly return. All five face the same structural tension: distributions at 25%–46% annualized can only be sustained if Tesla appreciates or volatility remains elevated enough to justify the premium. Past performance does not predict future results, and these funds' brief histories offer little guide to behavior across different market regimes.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
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The metrics behind this comparison, explained in the Academy.
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