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TSDD

GradeANASDAQ Global Market

GraniteShares 2x Short TSLA Daily ETF

Leveraged · Single-Stock Leveraged · GraniteShares · Inception 2023-08-21

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$7.12−0.04 (−0.49%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Aug 23, 2023.
Intraday session: down, 59 prints from 7.15 to 7.12. Range 6.87 to 7.20. Use the arrow keys to read each point.$6.90$7.00$7.2010 AM12 PM2 PM4 PM
Expense ratio
1.13%
Fund size
$20M
1Y return
−27.2%
Yield · Last 12 months
9.10%
Holdings
2
Volume · 30D
18.8M sh
NAV per share
$7.29
52W range
low $6.57high $12.55

The ETF.net TSDD Grade

A

83/ 100

Rank 4 of 58 in Single-Stock Inverse⁠

Confidence High

Six-pillar profile for TSDD. Scores out of 100: Cost 82, Risk 56, Mission 99, Tradability 91, Holdings not scored, Durability 69. Strongest: Mission (99). Weakest: Risk (56). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 83 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 82
    Category rank12/58 · top 21%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 99
    Category rank3/31 · top 10%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 56
    Category rank13/48 · top 27%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 91
    Category rank5/58 · top 9%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 69
    Category rank10/58 · top 17%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on TSDD

ETF.net Research

AMost single-stock bear ETFs settle for -1x. TSDD aims for negative 200% of Tesla's move, reset every trading day, at a fee below the norm for its group. A blunt instrument built for short holding periods.

Stated mandate

The fund seeks daily results before fees and expenses equal to negative 200% of the daily percentage change in Tesla's common stock. It is designed as a short-term inverse leveraged vehicle.

Why people hold it

  1. 01Aims for negative 200% of Tesla's daily move: a 1% down day in TSLA targets a 2% gain before fees. Double the strength of the -1x Tesla bear funds.graniteshares.com
  2. 02Costs 1.13% a year, below the typical single-stock bear ETF fee. TSLS charges less but targets only -1x Tesla, so the extra leverage here comes cheap.graniteshares.com
  3. 03Hits its stated daily target closely and stays one of the busier names in its category, so getting in and out intraday is rarely the hard part.
  4. 04Running since 2023 and one of the stronger implementations in the single-stock bear crowd.

Worth knowing

  1. 01The -2x target resets daily. Hold past one day and compounding takes over; a choppy Tesla can leave the result well off the simple doubled math.graniteshares.com
  2. 02Leverage swings both ways: a 5% up day in Tesla targets a 10% hit here, before fees. One stock, no diversification cushion.
  3. 03Small by assets, with distributions at most once or twice a year. The prospectus frames it as a short-term inverse vehicle, not a hold-and-forget position.

TSDD Holdings

As of Sep 21, 2026, 4:09 AM
Asset class
Other
Holdings
2
Top-10 weight
200%
Largest holding
TSLA SWAP200.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TSLA SWAP199.98%-114,082$-42M3

Showing 1–1 of 1 holdings

TSDD Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

TSDD$7,278
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. TSDD $7,278. SPY $11,723. Use the arrow keys to read each point.$6,228$9,705$13,183Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for TSDD. Periods over one year show the average yearly return.
PeriodTSDD
Year to date−7.5%
1 month−12.6%
3 months−8.5%
1 year−27.2%
3 years−71.7%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TSDD
YearReturn barTSDD
2026 YTD−7.5%
2025−75.0%
2024−89.2%
2023−17.9%

History from Aug 23, 2023

TSDD in the news

ETF.net Research hasn’t filed on TSDD yet — coverage lands here as it’s written.

TSDD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
9.10%Last 12 months
Payout per share
$0.65Last 12 months
Last payment
$0.65 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2023–2026

One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 27, 2023 $77.34; Dec 29, 2025 $0.65. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 29, 2025Dec 31, 2025$0.65
Dec 27, 2023Dec 29, 2023$77.34

TSDD Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
102.7%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.68
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−99.0%
36 months · trough Dec 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−2.22
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

TSDD Cost

Expense ratio1.13%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

10 of the 43 Single-Stock Inverse funds charge less.

TSDD costs $113.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.