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AVS vs TSLS

Direxion Daily AVGO Bear 1X Shares

AVSANasdaq

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.08pt a year

AVS1.03%TSLS0.95%

Avg volume · 30D

AVS 28.6×the volume

AVS11.7MTSLS410K

AVS vs TSLS Performance

Oct 31, 2025 – Oct 30, 2026

−2.9%AVS+1.0%TSLS

Oct 31, 2025 to Oct 30, 2026. AVS −2.9%. TSLS +1.0%. Use the arrow keys to read each point.−20%20%40%Oct 2025Apr 2026Oct 2026
Expense ratio
AVS 1.03%
TSLS 0.95%, better
Fund size
AVS $20M
TSLS $39M
1Y total return
AVS −2.9%
TSLS +1.0%, better
Yield (12M)
AVS 3.07%
TSLS 3.11%, better
Holdings
AVS 4
TSLS 4
Avg volume (30D)
AVS 11.7M sh, better
TSLS 410K sh
NAV per share
AVS $8.32
TSLS $50.04
52W range

ETF.net Grade

AVS: Cost 69, Risk 72, Mission 100, Tradability 75, Holdings not scored, Durability 68. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for AVS, TSLS, with each pillar’s weight
PillarAVSTSLS
Cost30% weightB69A97Higher
Mission25% weightA100HigherA87
Risk15% weightA72A75Higher
Tradability15% weightA75HigherC45
Holdings10% weightNot scoredNot scored
Durability5% weightB68A82Higher

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. AVS 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 AVS 7th 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 5APLTDDirexion Daily PLTR Bear 1X ETFScore 80
  7. Rank 7AAVSDirexion Daily AVGO Bear 1X SharesScore 79
  8. Rank 8AGGLSDirexion Daily GOOGL Bear 1X ETFScore 77

Our read on each fund

ETF.net Research

AVSADirexion Daily AVGO Bear 1X Shares

TSLSADirexion Daily TSLA Bear 1X ETF

In short

AVS A one-ticker short on Broadcom. AVS aims for -100% of AVGO's daily move, no margin account or borrowed shares involved, at 1.03% net of a waiver through September 1, 2027.

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

AVS The fund seeks daily investment results equal to 100% of the inverse performance of Broadcom Inc.'s common shares, before fees and expenses.

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

  • AVS Straight inverse, not amplified: the fund targets -100% of Broadcom's daily move, the mirror image of one day's trade with no leverage multiplier stacked on top.direxion.com
  • Betting against AVGO the old way means a margin account and borrowed shares. This is one ticker in a standard brokerage account, with exposure limited to what you put in.direxion.com
  • 1.03% net of a waiver through September 1, 2027 (1.21% gross), which lands below the median fee for leveraged and inverse single-stock funds.
  • One of the most heavily traded names in its category, and it hits its stated daily target with very little slippage, among the tighter implementations in the peer group.
  • 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

  • AVS The target resets every day. Hold longer and compounding takes over, so results over a week or a month can differ from -100% of AVGO's move over that same stretch.direxion.com
  • Everything rides on one semiconductor stock. No basket, no diversification, so an AVGO rally hits the fund directly.
  • Cheaper 1x inverse options exist, including TSLS at 0.95% and SKHZ at 0.75%, and AVS prices toward 1.21% gross if the waiver lapses after September 1, 2027.
  • 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 AVS profile⁠

Full TSLS profile⁠

AVS 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.

AVS vs TSLS Cost

Overpaying AVS vs TSLS

$1,304

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

  • AVS 1.03%

    $19,173

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • AVS 1.03%
  • TSLS 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530AVS $19,173TSLS $17,869

Year by year

YearAVSTSLSOverpaying
10$1,814$1,678$136
20$6,807$6,322$485
30$19,173$17,869$1,304

Expense ratio

  • 1.03%AVS
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

AVS 18th cheapest of 43 funds

AVS vs TSLS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AVS 3.07%
TSLS 3.11%, better
Payout (12M)
AVS $0.27
TSLS $1.57
Last payment
AVS $0.04
TSLS $0.40
Ex-dividend
AVS Sep 22, 2026
TSLS Sep 22, 2026
Paid on
AVS Sep 29, 2026
TSLS Sep 29, 2026
Frequency
AVS Quarterly
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

AVSQuarterly · 9 paymentsAll AVS payments⁠
One bar per payment. 9 payments from 2022 to 2026 YTD. Dec 12, 2024 $0.44; Dec 23, 2024 $0.07; Mar 25, 2025 $0.17; Jun 24, 2025 $0.05; Sep 23, 2025 $0.05; Dec 23, 2025 $0.13; Mar 24, 2026 $0.06; Jun 23, 2026 $0.04; Sep 22, 2026 $0.04. Use the arrow keys to read each point.$0$1020232026YTD
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

AVS vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AVS 45.2%since Nov 2024TSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
AVS −1.00since Nov 2024TSLS −0.76
Worst fallMax drawdown, 5 years
AVS −75.7%since Oct 2024TSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
AVS −1.48TSLS −1.41

AVS and TSLS in the news

All news⁠

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