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MUZ vs TSLS

Defiance Daily Target 2X Short MU ETF

MUZCNYSE Arca

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.36pt a year

MUZ1.31%TSLS0.95%

Avg volume · 30D

MUZ 27.2×the volume

MUZ11.2MTSLS410K

MUZ vs TSLS Performance

Jul 31, 2026 – Nov 2, 2026

−27.2%MUZ−24.5%TSLS

Jul 31, 2026 to Nov 2, 2026. MUZ −27.2%. TSLS −24.5%. Use the arrow keys to read each point.−50%−40%−10%0%Jul 2026Sep 2026Nov 2026
Expense ratio
MUZ 1.31%
TSLS 0.95%, better
Fund size
MUZ $9M
TSLS $40M
1Y total return
MUZ No data
TSLS 0.0%
Yield (12M)
MUZ No data
TSLS 3.14%
Holdings
MUZ 2
TSLS 4
Avg volume (30D)
MUZ 11.2M sh, better
TSLS 410K sh
NAV per share
MUZ $8.92
TSLS $50.50
52W range

ETF.net Grade

MUZ: Cost 49, Risk 38, Mission not scored, Tradability 66, Holdings not scored, Durability 42. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for MUZ, TSLS, with each pillar’s weight
PillarMUZTSLS
Cost30% weightC49A97Higher
Mission25% weightNot scoredA87
Risk15% weightD38A75Higher
Tradability15% weightB66HigherC45
Holdings10% weightNot scoredNot scored
Durability5% weightC42A82Higher

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. MUZ 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 MUZ 23rd 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 3ATSLSDirexion Daily TSLA Bear 1X ETFScore 81
  4. Rank 4AAMZDDirexion Daily AMZN Bear 1X ETFScore 80
  5. Rank 23CCONIGraniteShares 2x Short COIN Daily ETFScore 50
  6. Rank 23CMUZDefiance Daily Target 2X Short MU ETFScore 50
  7. Rank 25CIONZDefiance Daily Target 2x Short IONQ ETFScore 41

Our read on each fund

ETF.net Research

MUZCDefiance Daily Target 2X Short MU ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

MUZ The first ETF to put -2X daily on Micron, doubling the depth of the -1X bear option that came before it. A trader's tool for memory-chip swings: no margin account, no borrowed shares, just a ticker.

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

MUZ The Fund seeks daily inverse investment results equal to negative two times the daily percentage change in Micron Technology, Inc.'s common stock.

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

  • MUZ Deepest inverse exposure on Micron in a fund wrapper: it aims for -200% of the stock's daily move, where the bear funds that preceded its 2026 launch targeted -100%.defianceetfs.comdirexion.com
  • Shorts Micron without a margin account or locating borrow. The fund builds the position with swap agreements and listed options inside a standard 1940-Act ETF.defianceetfs.comdefianceetfs.com 2
  • At 1.31%, the expense ratio sits right at the median for leveraged and inverse single-stock funds, so the extra torque doesn't come at a premium price.
  • Heavily traded for a young single-stock fund, which is what you want in a vehicle designed to be held for days, not quarters.
  • 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

  • MUZ The -2X target resets daily. Over longer holds, results track the path Micron takes, not simply where the stock ends up.defianceetfs.com
  • Bear-1X peers like AAPD and TSLS charge under 1%. Two times the inverse costs more than one.
  • One stock, one direction, non-diversified by design, and a modest asset base for the category. Micron earnings nights land at double speed.defianceetfs.com
  • 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 MUZ profile⁠

Full TSLS profile⁠

MUZ 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.

MUZ vs TSLS Cost

Overpaying MUZ vs TSLS

$5,650

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

  • MUZ 1.31%

    $23,519

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • MUZ 1.31%
  • 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$20K$25K051015202530MUZ $23,519TSLS $17,869

Year by year

YearMUZTSLSOverpaying
10$2,280$1,678$602
20$8,450$6,322$2,128
30$23,519$17,869$5,650

Expense ratio

  • 1.31%MUZ
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

MUZ 27th cheapest of 43 funds

MUZ vs TSLS Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
MUZ No data
TSLS 3.14%
Payout (12M)
MUZ None
TSLS $1.57
Last payment
MUZ No data
TSLS $0.40
Ex-dividend
MUZ No data
TSLS Sep 22, 2026
Paid on
MUZ No data
TSLS Sep 29, 2026
Frequency
MUZ No data
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

MUZAll MUZ 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

MUZ vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MUZ No dataTSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
MUZ No dataTSLS −0.76
Worst fallMax drawdown, 5 years
MUZ No dataTSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
MUZ 0.00TSLS −1.41

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