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Launched · SEC filings

T-REX 2X Inverse Tesla Daily Target ETF

TSLZCboeAThis 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.

$10.83+0.14 (+1.36%)

At close: Oct 13, 2026, 4:00 PM

A76/ 100

Rank 9 of 58 in Single-Stock Inverse

A76/100Rank 9 of 58inSingle-Stock Inverse
Intraday session: up, 79 prints from 10.69 to 10.83. Range 10.77 to 11.03. Use the arrow keys to read each point.10.7510.9010.9511.0010 AM12 PM2 PM4 PM
Expense ratio
1.05%
Fund size
$22M
1Y total return
−31.8%
Yield · Last 12 months
0.76%
Holdings
2
Avg volume · 30D
2.5M sh
NAV per share
$10.44
52W range
low $9.73high $19.03
Launched
Filings
SEC EDGAR

The ETF.net TSLZ Grade

Based on 5 of 6 pillars

A

Score 76 out of 100

Category
Single-Stock Inverse⁠
Rank
9 of 58
Six-pillar profile for TSLZ. Scores out of 100: Cost 86, Risk 51, Mission 98, Tradability 54, Holdings not scored, Durability 61. Strongest: Mission (98). Weakest: Risk (51). Based on 5 of 6 pillars.

Score 76 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A86 out of 100
    Rank 8 of 58

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A98 out of 100
    Rank 6 of 32

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C51 out of 100
    Rank 20 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C54 out of 100
    Rank 22 of 58

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B61 out of 100
    Rank 17 of 58

Our read on TSLZ

ETF.net Research

AShorting Tesla without a margin account. TSLZ uses swaps to aim for -2x Tesla's move each trading day, resets at the close, and is the cheaper of the two double-short Tesla funds. Built for day-scale trades, not the long haul.

Stated mandate

The Fund seeks daily investment results equal to -200% of the daily performance of Tesla, Inc., before fees and expenses. It is intended as a short-term trading vehicle and is not designed to track Tesla over periods longer than one trading day.

Why people hold it

  1. 01At 1.05%, it's the cheaper of the two double-short Tesla ETFs (TSDD charges 1.13%) and sits below the typical fee in the leveraged single-stock bear group.
  2. 02Total return swaps with major financial institutions do the work, so the -2x Tesla exposure arrives in a plain brokerage account: no share borrow, no locate.sec.gov
  3. 03Actively traded, and it has tracked its stated -2x daily target closely, one of the stronger implementations among leveraged single-stock bear funds.

Worth knowing

  1. 01Daily reset: the -2x target applies to one session. Hold longer and compounding pushes the result away from -2x Tesla's move over that stretch.
  2. 02Twice the daily move in both directions. For less octane, Direxion's TSLS targets -1x on Tesla at 0.95%.
  3. 03The prospectus calls it a short-term trading vehicle, and swap exposure means counterparty risk rather than borrowed shares.sec.gov

TSLZ Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
2
Top-10 weight
150%
Largest holding
Cash and Cash Equivalents114.9%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Cash and Cash Equivalents114.90%22,508,942$23M124
002—Recv Tslz Trs Tsla Eq35.10%26,441,996$7M1

Showing 1–2 of 2 holdings

TSLZ Performance

Launched Oct 19, 2023

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

Not enough history yet.Not enough history yet.Not enough history yet.
TSLZ$6,820
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. TSLZ $6,820. SPY $12,044. Use the arrow keys to read each point.$6,076$9,289$12,502Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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 TSLZ. Periods over one year show the average yearly return.
PeriodTSLZ
Year to date−9.9%
1 month−8.2%
3 months−1.5%
1 year−31.8%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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 TSLZ
YearReturn barTSLZ
2026 YTD−9.9%
2025−76.0%
2024−88.8%
2023−27.8%

Since listing, Oct 19, 2023

TSLZ in the news

Filtered to TSLZ · Single-Stock Inverse

TSLZ 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 Oct 12, 2026.
0.76%Last 12 months
Payout per share
$0.08Last 12 months
Last payment
$0.08 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 26, 2023 $55.18; Dec 24, 2024 $1.04; Dec 24, 2025 $0.08. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.08
Dec 24, 2024Dec 26, 2024$1.04
Dec 26, 2023Dec 28, 2023$55.18

TSLZ 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.
104.6%
Annualised · 35 months to Sep 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.
−0.81
vs 3-month T-bills · 35 months to Sep 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.
−99.1%
35 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.
−2.46
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.

TSLZ Cost

Expense ratio1.05%
  • The middle half of Single-Stock Inverse funds
  • Median 1.35%

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

TSLZ costs $105.00 a year on $10,000. The median Single-Stock Inverse fund costs $135.00.

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