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MSFD vs TSDD

Direxion Daily MSFT Bear 1X ETF

MSFDANasdaq

GraniteShares 2x Short TSLA Daily ETF

TSDDANasdaq

Overlap

Expense ratio

TSDD −0.04pt a year

MSFD1.02%TSDD0.98%

Avg volume · 30D

TSDD 6.8×the volume

MSFD1.62MTSDD11M

3Y return · a year

MSFD +61.1pt

MSFD−14.2%TSDD−75.3%

MSFD vs TSDD Performance

Oct 31, 2025 – Oct 30, 2026

−6.2%MSFD−24.7%TSDD

Oct 31, 2025 to Oct 30, 2026. MSFD −6.2%. TSDD −24.7%. Use the arrow keys to read each point.20%40%Oct 2025Apr 2026Oct 2026
Expense ratio
MSFD 1.02%
TSDD 0.98%, better
Fund size
MSFD $10M
TSDD $31M
1Y total return
MSFD −6.2%, better
TSDD −24.7%
Yield (12M)
MSFD 4.24%
TSDD 10.55%, better
Holdings
MSFD 3
TSDD 1
Avg volume (30D)
MSFD 1.62M sh
TSDD 11M sh, better
NAV per share
MSFD $9.67
TSDD $6.07
52W range

ETF.net Grade

MSFD: Cost 78, Risk 82, Mission 99, Tradability 41, Holdings not scored, Durability 66. TSDD: Cost 94, Risk 49, Mission 98, Tradability 81, Holdings not scored, Durability 72.
Pillar letters and Scores for MSFD, TSDD, with each pillar’s weight
PillarMSFDTSDD
Cost30% weightA78A94Higher
Mission25% weightA99HigherA98
Risk15% weightA82HigherC49
Tradability15% weightC41A81Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB66A72Higher

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. MSFD and TSDD 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 ›

TSDD ranks 2nd and MSFD 8th 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 8AGGLSDirexion Daily GOOGL Bear 1X ETFScore 77
  5. Rank 8AMSFDDirexion Daily MSFT Bear 1X ETFScore 77
  6. Rank 10ATSLQTradr 2X Short TSLA Daily ETFScore 75

Our read on each fund

ETF.net Research

MSFDADirexion Daily MSFT Bear 1X ETF

TSDDAGraniteShares 2x Short TSLA Daily ETF

In short

MSFD Straight inverse Microsoft, with no leverage stacked on top: MSFD targets -100% of MSFT's daily move. One of Direxion's original 2022 single-stock funds, and a buy-side way to express a bearish view.

TSDD Tesla bears pick their dosage; this is the double. TSDD aims for -2x TSLA's move each day, reset daily, at 0.95% net of a waiver through December 31, 2026. Designed as a short-term tool, not a buy-and-forget holding.

Stated mandate

MSFD The fund seeks daily investment results, before fees and expenses, that correspond to the inverse performance of Microsoft Corporation's common shares.

TSDD 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

  • MSFD The unleveraged one on a shelf crowded with 2x and 3x bears. It targets -100% of Microsoft's daily move, so a 1% MSFT drop maps to roughly a 1% move the other way before fees.direxion.com
  • Fee is 1.02% net of a waiver through September 1, 2027 (1.16% gross), which sits below the category median for inverse single-stock funds.direxion.com
  • You buy shares long to get short exposure. No stock borrow to locate, no short-sale mechanics running inside your own account.direxion.com
  • Day to day, it has tracked its stated inverse target tightly, one of the stronger implementations in the inverse single-stock group.
  • TSDD 0.95% net of a waiver through December 31, 2026 (1.13% gross) undercuts fellow 2x short Tesla fund TSLZ at 1.05% and matches 1x bear TSLS at 0.95%, for double the daily exposure.
  • Hews closely to its stated -2x daily target, one of the tighter implementations among single-stock bear funds.
  • Heavily traded for an inverse single-stock fund, so getting in and out is rarely a chore.
  • A 1940 Act ETF that uses swaps and options on TSLA to sit near 200% short at each close: no margin account or stock borrow on your end.graniteshares.com

Worth knowing

  • MSFD Daily reset. Hold past one day and compounding takes over, so multi-day results can diverge from -100% of MSFT's move. Direxion flags that MSFT volatility magnifies the effect.direxion.com
  • All the risk sits in one company. There is no index behind it to soften a Microsoft rally, which works directly against the position.
  • Small fund, so spreads deserve a look before you trade. Other 1X bears carry lower fees, like TSLS at 0.95% and AAPD at 0.96%, though they short different stocks.
  • TSDD The -2x target resets every day. Hold longer and compounding pulls results away from -2x TSLA's cumulative move, in either direction.graniteshares.com
  • One stock, geared twice: a sharp TSLA rally bites just as hard in reverse. Risk is the highest-octane part of this package.
  • A small fund, and the fee waiver runs through December 31, 2026; after that costs can step up toward the 1.13% gross level.

Full MSFD profile⁠

Full TSDD profile⁠

MSFD vs TSDD 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.

MSFD vs TSDD Cost

Overpaying MSFD vs TSDD

$650

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

  • MSFD 1.02%

    $19,012

  • TSDD 0.98%

    $18,362

$10,000
30 years

Cost over time

  • MSFD 1.02%
  • TSDD 0.98%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530MSFD $19,012TSDD $18,362

Year by year

YearMSFDTSDDOverpaying
10$1,797$1,729$68
20$6,746$6,504$242
30$19,012$18,362$650

Expense ratio

  • 1.02%MSFD
  • 0.98%TSDD, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSDD 5th cheapest of 43 funds

MSFD 12th cheapest of 43 funds

MSFD vs TSDD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MSFD 4.24%
TSDD 10.55%, better
Payout (12M)
MSFD $0.42
TSDD $0.65
Last payment
MSFD $0.08
TSDD $0.65
Ex-dividend
MSFD Sep 22, 2026
TSDD Dec 29, 2025
Paid on
MSFD Sep 29, 2026
TSDD Dec 31, 2025
Frequency
MSFD Quarterly
TSDD Irregular

Distribution history

Per share, 2022 to 2026, same scale for both

MSFDQuarterly · 18 paymentsAll MSFD payments⁠
One bar per payment. 18 payments from 2022 to 2026 YTD. Sep 20, 2022 $0.01; Dec 8, 2022 $0.01; Dec 20, 2022 $0.16; Mar 21, 2023 $0.11; Jun 21, 2023 $0.19; Sep 19, 2023 $0.22; Dec 21, 2023 $0.17; Mar 19, 2024 $0.13; Jun 25, 2024 $0.22; Sep 24, 2024 $0.11; Dec 23, 2024 $0.15; Mar 25, 2025 $0.11; Jun 24, 2025 $0.09; Sep 23, 2025 $0.11; Dec 23, 2025 $0.08; Mar 24, 2026 $0.08; Jun 23, 2026 $0.18; Sep 22, 2026 $0.08. Use the arrow keys to read each point.$0$5020232026YTD
TSDDIrregular · 2 paymentsAll TSDD payments⁠
One bar per payment. 2 payments from 2022 to 2026 YTD. Dec 27, 2023 $77.34; Dec 29, 2025 $0.65. Use the arrow keys to read each point.$0$5020232026YTD

MSFD vs TSDD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MSFD 27.6%, betterTSDD 100.6%
Return per unit of riskSharpe ratio, 3 years
MSFD −0.57, betterTSDD −0.87
Worst fallMax drawdown, 5 years
MSFD −62.1%since Sep 2022TSDD −99.1%since Aug 2023
Market sensitivityBeta, 5 years
MSFD −1.16TSDD −2.40

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