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NBIZ vs TSLS

Tradr 2X Short NBIS Daily ETF

NBIZDCboe

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.54pt a year

NBIZ1.49%TSLS0.95%

Avg volume · 30D

NBIZ 5.2×the volume

NBIZ2.13MTSLS410K

NBIZ vs TSLS Performance

Jul 31, 2026 – Oct 30, 2026

−50.2%NBIZ−23.8%TSLS

Jul 31, 2026 to Oct 30, 2026. NBIZ −50.2%. TSLS −23.8%. Use the arrow keys to read each point.−80%−60%−40%0%Jul 2026Sep 2026Oct 2026
Expense ratio
NBIZ 1.49%
TSLS 0.95%, better
Fund size
NBIZ $30M
TSLS $39M
1Y total return
NBIZ No data
TSLS +1.0%
Yield (12M)
NBIZ No data
TSLS 3.11%
Holdings
NBIZ 3
TSLS 4
Avg volume (30D)
NBIZ 2.13M sh, better
TSLS 410K sh
NAV per share
NBIZ $37.95
TSLS $50.04
52W range

ETF.net Grade

NBIZ: Cost 25, Risk 21, Mission not scored, Tradability 50, Holdings not scored, Durability 52. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for NBIZ, TSLS, with each pillar’s weight
PillarNBIZTSLS
Cost30% weightD25A97Higher
Mission25% weightNot scoredA87
Risk15% weightF21A75Higher
Tradability15% weightC50HigherC45
Holdings10% weightNot scoredNot scored
Durability5% weightC52A82Higher

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. NBIZ 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 NBIZ 39th 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 38DCORDT-Rex 2x Inverse CRWV Daily Target ETFScore 36
  7. Rank 39DNBIZTradr 2X Short NBIS Daily ETFScore 32
  8. Rank 39DRAMZT-Rex 2X Inverse DRAM Daily Target ETFScore 32

Our read on each fund

ETF.net Research

NBIZDTradr 2X Short NBIS Daily ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

NBIZ A one-ticker short on Nebius. NBIZ aims to deliver two times the inverse of NBIS's move over a single trading day, then resets. A trader's instrument in an ETF wrapper, not a position you set and forget.

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

NBIZ The Fund seeks daily investment results equal to two times the inverse of NBIS’s performance, before fees and expenses. The objective applies only to a single trading day.

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

  • NBIZ Puts you on the short side of Nebius Group without a margin account or borrowing shares, and the most you can lose is what you put in.
  • A registered 1940 Act fund, so it trades intraday like a stock in an ordinary brokerage account with standard ETF disclosure.
  • Built for short holding periods, and it changes hands regularly through the session, which is what counts when the trade is measured in hours.
  • 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

  • NBIZ The 2x inverse target applies to one trading day. Hold longer and compounding takes over, so multi-day results can land far from twice the inverse of NBIS's move.
  • The 1.49% expense ratio runs above several 2x inverse single-stock peers, including MSTZ (1.05%) and TSDD (1.13%).
  • Everything rides on one AI-infrastructure stock, and the fund launched in 2026, so there is little history behind it.
  • 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 NBIZ profile⁠

Full TSLS profile⁠

NBIZ 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.

NBIZ vs TSLS Cost

Overpaying NBIZ vs TSLS

$8,272

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

  • NBIZ 1.49%

    $26,141

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • NBIZ 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$30K051015202530NBIZ $26,141TSLS $17,869

Year by year

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

Expense ratio

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

TSLS 2nd cheapest of 43 funds

NBIZ 31st cheapest of 43 funds

NBIZ vs TSLS Dividends

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

Distribution history

Per share, 2022 to 2026, same scale for both

NBIZAll NBIZ 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

NBIZ vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NBIZ No dataTSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
NBIZ No dataTSLS −0.76
Worst fallMax drawdown, 5 years
NBIZ No dataTSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
NBIZ −1.73TSLS −1.41

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