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NFXS vs TSLS

Direxion Daily NFLX Bear 1X ETF

NFXSCNasdaq

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.08pt a year

NFXS1.03%TSLS0.95%

Avg volume · 30D

TSLS 18.2×the volume

NFXS22.5KTSLS410K

NFXS vs TSLS Performance

Oct 31, 2025 – Oct 30, 2026

+69.4%NFXS+1.0%TSLS

Oct 31, 2025 to Oct 30, 2026. NFXS +69.4%. TSLS +1.0%. Use the arrow keys to read each point.20%40%60%Oct 2025Apr 2026Oct 2026
Expense ratio
NFXS 1.03%
TSLS 0.95%, better
Fund size
NFXS $3M
TSLS $39M
1Y total return
NFXS +69.4%, better
TSLS +1.0%
Yield (12M)
NFXS 2.16%
TSLS 3.11%, better
Holdings
NFXS 4
TSLS 4
Avg volume (30D)
NFXS 22.5K sh
TSLS 410K sh, better
NAV per share
NFXS $24.19
TSLS $50.04
52W range

ETF.net Grade

NFXS: Cost 69, Risk 96, Mission 97, Tradability 25, Holdings not scored, Durability 51. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for NFXS, TSLS, with each pillar’s weight
PillarNFXSTSLS
Cost30% weightB69A97Higher
Mission25% weightA97HigherA87
Risk15% weightA96HigherA75
Tradability15% weightD25C45Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC51A82Higher

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. NFXS 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 NFXS 28th 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 28CCSCSDirexion Daily CSCO Bear 1X ETFScore 40
  7. Rank 28CNFXSDirexion Daily NFLX Bear 1X ETFScore 40
  8. Rank 28CPALDDirexion Daily PANW Bear 1X ETFScore 40

Our read on each fund

ETF.net Research

NFXSCDirexion Daily NFLX Bear 1X ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

NFXS Shorting Netflix without a margin account or a borrow: NFXS aims to deliver 100% of the inverse of NFLX's one-day move. Direxion runs the bull side of this pair at 2x and the bear side at 1x, so it's a straight short, not an amplified one.

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

NFXS The fund seeks daily investment results equal to 100% of the inverse of Netflix common shares' performance, 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

  • NFXS One-to-one inverse exposure, built with swaps rather than borrowed stock, so a bearish Netflix view fits in a regular brokerage account with no short-sale mechanics to manage.sec.gov
  • Costs 1.03% a year, net of a waiver through September 1, 2027 (1.13% gross), which sits below the median fee in a category of 54 single-stock bear funds.
  • Has tracked its stated one-day inverse target closely since launching in 2024, which is the whole job for a daily-reset fund.
  • The unlevered half of Direxion's NFLX pair: NFXL targets 200% of the stock's daily move, NFXS targets -100%, so you pick the short without the leverage.direxion.com
  • 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

  • NFXS The target resets every day. Hold longer than a day and compounding can push results away from -100% of the stock's move over that stretch, especially in choppy markets.sec.gov
  • A small fund that trades lightly next to the biggest single-stock bear ETFs, so spreads can widen. Limit orders matter more here.
  • Direxion's AAPL bear 1X, AAPD, charges 0.96% with no waiver attached, a reminder that bear 1X pricing varies across the lineup.
  • 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 NFXS profile⁠

Full TSLS profile⁠

NFXS 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.

NFXS vs TSLS Cost

Overpaying NFXS vs TSLS

$1,304

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

  • NFXS 1.03%

    $19,173

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • NFXS 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$20K051015202530NFXS $19,173TSLS $17,869

Year by year

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

Expense ratio

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

TSLS 2nd cheapest of 43 funds

NFXS 18th cheapest of 43 funds

NFXS vs TSLS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
NFXS 2.16%
TSLS 3.11%, better
Payout (12M)
NFXS $0.52
TSLS $1.57
Last payment
NFXS $0.13
TSLS $0.40
Ex-dividend
NFXS Sep 22, 2026
TSLS Sep 22, 2026
Paid on
NFXS Sep 29, 2026
TSLS Sep 29, 2026
Frequency
NFXS Quarterly
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

NFXSQuarterly · 8 paymentsAll NFXS payments⁠
One bar per payment. 8 payments from 2022 to 2026 YTD. Dec 23, 2024 $0.17; Mar 25, 2025 $0.15; Jun 24, 2025 $0.08; Sep 23, 2025 $0.21; Dec 23, 2025 $0.16; Mar 24, 2026 $0.08; Jun 23, 2026 $0.15; Sep 22, 2026 $0.13. 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

NFXS vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NFXS 37.5%since Nov 2024TSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
NFXS 0.21since Nov 2024TSLS −0.76
Worst fallMax drawdown, 5 years
NFXS −50.4%since Oct 2024TSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
NFXS −0.29TSLS −1.41

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