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MSTZ vs TSLS

T-REX 2X Inverse MSTR Daily Target ETF

MSTZBCboe

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

0.0%by weight

Expense ratio

TSLS −0.10pt a year

MSTZ1.05%TSLS0.95%

Avg volume · 30D

MSTZ 85.2×the volume

MSTZ34.9MTSLS410K

MSTZ vs TSLS Performance

Oct 31, 2025 – Oct 30, 2026

−50.7%MSTZ+1.0%TSLS

Oct 31, 2025 to Oct 30, 2026. MSTZ −50.7%. TSLS +1.0%. Use the arrow keys to read each point.100%200%300%Oct 2025Apr 2026Oct 2026
Expense ratio
MSTZ 1.05%
TSLS 0.95%, better
Fund size
MSTZ $75M
TSLS $39M
1Y total return
MSTZ −50.7%
TSLS +1.0%, better
Yield (12M)
MSTZ No data
TSLS 3.11%
Holdings
MSTZ 2
TSLS 4
Avg volume (30D)
MSTZ 34.9M sh, better
TSLS 410K sh
NAV per share
MSTZ $2.85
TSLS $50.04
52W range

ETF.net Grade

MSTZ: Cost 65, Risk 47, Mission 88, Tradability 62, Holdings not scored, Durability 68. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for MSTZ, TSLS, with each pillar’s weight
PillarMSTZTSLS
Cost30% weightB65A97Higher
Mission25% weightA88HigherA87
Risk15% weightC47A75Higher
Tradability15% weightB62HigherC45
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. MSTZ 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 MSTZ 17th 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 15BTSLZT-REX 2X Inverse Tesla Daily Target ETFScore 68
  7. Rank 17BMSTZT-REX 2X Inverse MSTR Daily Target ETFScore 67
  8. Rank 18BPLTZDaily Target 2X Short PLTR ETFScore 65

Our read on each fund

ETF.net Research

MSTZBT-REX 2X Inverse MSTR Daily Target ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

MSTZ A double-inverse day trade on MicroStrategy in a single ticker. MSTZ aims to deliver -2x MSTR's move each day, resets every night, and charges less than the typical single-stock bear fund. Built for short holds, by design.

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

MSTZ The fund seeks inverse leveraged daily investment results tied to MSTR and is designed for short-term trading.

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

  • MSTZ Puts a -2x MSTR position in one ticker: no margin account, no share borrow to arrange, and as a 1940 Act fund you can't lose more than you put in.rexshares.com
  • At 1.05%, it undercuts the typical fee in its single-stock bear cohort. Fees bite hardest on a product you keep trading in and out of.
  • One of the more heavily traded names in the single-stock bear group, which is what keeps spreads and exit liquidity workable for short holds.
  • Hits its stated daily -2x target closely, one of the tighter implementations among single-stock bear 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

  • MSTZ The -2x is a one-day target that resets each night. Hold through a choppy stretch and results can land far from -2x the period move, either direction.rexshares.com
  • Two times the inverse of one volatile stock means violent sessions. The fund's own materials frame it as a short-term trading tool needing daily attention.rexshares.com
  • Launched in 2024, so the record covers a limited run of market conditions, and it pays no regular distribution. Price direction is the whole return.
  • 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 MSTZ profile⁠

Full TSLS profile⁠

MSTZ vs TSLS Holdings

How MSTZ and TSLS differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of MSTZ and 0.0% of TSLS.

Level by level

  • Asset classEquity, Leveraged/Inverse0.0%
  • Holdings0 in both0.0%

Sector

No Sector split for MSTZ and TSLS.

Country, concentration and asset class

Country by domicile

No country split for MSTZ and TSLS.

Concentration

Weight in the 10 largest Holdings

  • MSTZ102.8%
  • TSLS4297.0%

Securities held

  • MSTZ1
  • TSLS2

Asset class

MSTZ
Equity
TSLS
Leveraged/Inverse

Holdings

  • Only in MSTZ1
  • In both0
  • Only in TSLS2

Only in MSTZ

1 security, 4.8% of MSTZ by weight

  • Strg Trs Mstr Eq4.78%

Only in TSLS

2 securities, 100% of TSLS by weight

  • Goldman Finl Sq Trsry Inst 506475.39%
  • Goldman Sachs Fin Gov 465 Institut463.73%

Weight gaps

MSTZ and TSLS share no securities.

All 9 MSTZ holdings⁠All 8 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.

MSTZ vs TSLS Cost

Overpaying MSTZ vs TSLS

$1,626

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

  • MSTZ 1.05%

    $19,495

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • MSTZ 1.05%
  • 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$20K051015202530MSTZ $19,495TSLS $17,869

Year by year

YearMSTZTSLSOverpaying
10$1,847$1,678$169
20$6,927$6,322$605
30$19,495$17,869$1,626

Expense ratio

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

TSLS 2nd cheapest of 43 funds

MSTZ 20th cheapest of 43 funds

MSTZ vs TSLS Dividends

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

Distribution history

Per share, 2022 to 2026, same scale for both

MSTZAll MSTZ 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

MSTZ vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MSTZ 185.8%since Oct 2024TSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
MSTZ −0.21since Oct 2024TSLS −0.76
Worst fallMax drawdown, 5 years
MSTZ −99.5%since Sep 2024TSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
MSTZ −3.35TSLS −1.41

Popular comparisons

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