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APLZ vs TSLS

Tradr 2X Short APLD Daily ETF

APLZCCboe

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.54pt a year

APLZ1.49%TSLS0.95%

Avg volume · 30D

TSLS 3.1×the volume

APLZ134KTSLS410K

APLZ vs TSLS Performance

Jul 31, 2026 – Oct 30, 2026

+44.0%APLZ−23.8%TSLS

Jul 31, 2026 to Oct 30, 2026. APLZ +44.0%. TSLS −23.8%. Use the arrow keys to read each point.0%20%60%Jul 2026Sep 2026Oct 2026
Expense ratio
APLZ 1.49%
TSLS 0.95%, better
Fund size
APLZ $5M
TSLS $39M
1Y total return
APLZ No data
TSLS +1.0%
Yield (12M)
APLZ No data
TSLS 3.11%
Holdings
APLZ 2
TSLS 4
Avg volume (30D)
APLZ 134K sh
TSLS 410K sh, better
NAV per share
APLZ $35.31
TSLS $50.04
52W range

ETF.net Grade

APLZ: Cost 25, Risk 40, Mission 97, Tradability 38, Holdings not scored, Durability 32. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for APLZ, TSLS, with each pillar’s weight
PillarAPLZTSLS
Cost30% weightD25A97Higher
Mission25% weightA97HigherA87
Risk15% weightC40A75Higher
Tradability15% weightD38C45Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD32A82Higher

Rank among Single-Stock Inverse funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. APLZ and TSLS are both graded against the same 43 Single-Stock Inverse funds, so their Grades compare head to head.

Single-Stock Inverse⁠

Category · 43 funds
See all 43 ›

TSLS ranks 3rd and APLZ 28th of 43 funds in the Single-Stock Inverse Category.

  1. Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 86
  2. Rank 2ATSDDGraniteShares 2x Short TSLA Daily ETFScore 84
  3. Rank 3ASKHZLeverage Shares 1X Short SK Hynix Daily ETFScore 81
  4. Rank 3ATSLSDirexion Daily TSLA Bear 1X ETFScore 81
  5. Rank 5AAMZDDirexion Daily AMZN Bear 1X ETFScore 80
  6. Rank 26CSNDQTradr 2X Short SNDK Daily ETFScore 41
  7. Rank 28CAPLZTradr 2X Short APLD Daily ETFScore 40
  8. Rank 28CCSCSDirexion Daily CSCO Bear 1X ETFScore 40

Our read on each fund

ETF.net Research

APLZCTradr 2X Short APLD Daily ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

APLZ A one-day trade in a fund wrapper: APLZ aims to deliver two times the inverse of Applied Digital's daily move, so bears can lean against the AI data-center story without a margin account or a stock loan.

TSLS The plain short on Tesla: TSLS aims for -1x the stock's daily move, with no leverage stacked on top. Among the small group of Tesla bear funds, it is the cheapest, and the one that dials risk down rather than up.

Stated mandate

APLZ The fund seeks daily results equal to two times the inverse performance of Applied Digital Corporation common shares, before fees and expenses. It is designed for a one-trading-day objective rather than a longer holding period.

TSLS The Fund seeks daily inverse investment results by maintaining short exposure to TSLA of approximately -100% of its net assets and generally rebalancing that exposure each trading day.

Why people hold it

  • APLZ Pure single-name tool. Instead of a sector basket, it targets one stock, Applied Digital (APLD), at twice the inverse of its daily move.tradretfs.com
  • Short exposure in an ordinary brokerage account: no margin agreement, no locating shares to borrow, no open-ended short losses beyond what you put in.tradretfs.com
  • Tight to its mandate. Day to day, the fund has hewed closely to its stated two-times-inverse objective, one of the stronger tracking records among inverse single-stock funds.
  • TSLS Cheapest of the Tesla short funds at 0.95%, undercutting TSDD (1.13%) and TSLZ (1.05%), and running well below the typical inverse single-stock ETF.
  • Inverse, not leveraged inverse. One unit of short Tesla exposure per dollar, which keeps daily compounding drag milder than the -2x versions of the same trade.direxion.com
  • Trading since 2022 and one of the stronger implementations in the inverse single-stock crowd, with enough daily volume to make in-and-out trading practical.

Worth knowing

  • APLZ The math resets every day. Hold longer than a session and compounding takes over, so results over a week or a month can drift well away from minus two times the move.
  • At 1.49% a year, it sits above the typical inverse single-stock fund; peers like TSLS and AAPD run cheaper, though they target different stocks at 1x.
  • Young and small: launched in 2026 with a modest asset base, so it has a short track record and thinner trading than the established names in the category.
  • TSLS Exposure resets every trading day. Over any stretch longer than a day, Tesla's volatility compounds and results can drift well away from -1x the stock's move.direxion.com
  • Direxion calls it a short-term trading vehicle that is not appropriate for investors who will not actively monitor it.sec.gov
  • One company, one story. An earnings print, a product event or a headline about its CEO moves the whole position.

Full APLZ profile⁠

Full TSLS profile⁠

APLZ vs TSLS Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

APLZ vs TSLS Cost

Overpaying APLZ vs TSLS

$8,272

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • APLZ 1.49%

    $26,141

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • APLZ 1.49%
  • TSLS 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530APLZ $26,141TSLS $17,869

Year by year

YearAPLZTSLSOverpaying
10$2,574$1,678$896
20$9,464$6,322$3,142
30$26,141$17,869$8,272

Expense ratio

  • 1.49%APLZ
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

APLZ 31st cheapest of 43 funds

APLZ vs TSLS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
APLZ No data
TSLS 3.11%
Payout (12M)
APLZ None
TSLS $1.57
Last payment
APLZ No data
TSLS $0.40
Ex-dividend
APLZ No data
TSLS Sep 22, 2026
Paid on
APLZ No data
TSLS Sep 29, 2026
Frequency
APLZ No data
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

APLZAll APLZ payments⁠

No distribution history available.

TSLSQuarterly · 18 paymentsAll TSLS payments⁠
One bar per payment. 18 payments from 2022 to 2026 YTD. Sep 20, 2022 $0.23; Dec 8, 2022 $16.19; Dec 20, 2022 $0.56; Mar 21, 2023 $2.55; Jun 21, 2023 $1.86; Sep 19, 2023 $1.80; Dec 21, 2023 $2.29; Mar 19, 2024 $2.40; Jun 25, 2024 $1.68; Sep 24, 2024 $1.39; Dec 23, 2024 $0.66; Mar 25, 2025 $0.76; Jun 24, 2025 $0.53; Sep 23, 2025 $0.40; Dec 23, 2025 $0.49; Mar 24, 2026 $0.34; Jun 23, 2026 $0.34; Sep 22, 2026 $0.40. Use the arrow keys to read each point.$0$1020232026YTD

APLZ vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
APLZ No dataTSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
APLZ No dataTSLS −0.76
Worst fallMax drawdown, 5 years
APLZ No dataTSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
APLZ −5.76TSLS −1.41

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