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NVDD vs TSLS

Direxion Daily NVDA Bear 1X ETF

NVDDANasdaq

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.06pt a year

NVDD1.01%TSLS0.95%

Avg volume · 30D

TSLS 1.6×the volume

NVDD194KTSLS304K

3Y return · a year

TSLS +9.0pt

NVDD−45.6%TSLS−36.6%

NVDD vs TSLS Performance

Nov 7, 2025 – Nov 9, 2026

−2.0%NVDD−0.7%TSLS

Nov 7, 2025 to Nov 9, 2026. NVDD −2.0%. TSLS −0.7%. Use the arrow keys to read each point.−20%10%20%30%Nov 2025May 2026Nov 2026
Expense ratio
NVDD 1.01%
TSLS 0.95%, better
Fund size
NVDD $21M
TSLS $44M
1Y total return
NVDD −2.0%
TSLS −0.7%, better
Yield (12M)
NVDD 3.75%, better
TSLS 2.99%
Holdings
NVDD 4
TSLS 4
Avg volume (30D)
NVDD 194K sh
TSLS 304K sh, better
NAV per share
NVDD $34.81
TSLS $55.63
52W range

ETF.net Grade

NVDD: Cost 78, Risk 58, Mission 90, Tradability 38, Holdings not scored, Durability 74. TSLS: Cost 97, Risk 76, Mission 87, Tradability 45, Holdings not scored, Durability 81.
Pillar letters and Scores for NVDD, TSLS, with each pillar’s weight
PillarNVDDTSLS
Cost30% weightA78A97Higher
Mission25% weightA90HigherA87
Risk15% weightB58A76Higher
Tradability15% weightD38C45Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA74A81Higher

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. NVDD 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 NVDD 10th of 43 funds in the Single-Stock Inverse Category.

  1. Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 84
  2. Rank 2ATSDDGraniteShares 2x Short TSLA Daily ETFScore 83
  3. Rank 3ATSLSDirexion Daily TSLA Bear 1X ETFScore 81
  4. Rank 4AAMZDDirexion Daily AMZN Bear 1X ETFScore 80
  5. Rank 9AGGLSDirexion Daily GOOGL Bear 1X ETFScore 75
  6. Rank 10ANVDDDirexion Daily NVDA Bear 1X ETFScore 71
  7. Rank 10AORCSDirexion Daily ORCL Bear 1X ETFScore 71

Our read on each fund

ETF.net Research

NVDDADirexion Daily NVDA Bear 1X ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

NVDD A straight one-for-one short on NVIDIA that resets every trading day: no 2x amplifier, no margin account, no hunting for borrowable shares. It also undercuts the other inverse-NVDA ETF on fees.

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

NVDD The fund seeks daily investment results, before fees and expenses, equal to 100% of the inverse performance of NVIDIA Corporation common shares.

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

  • NVDD 1.01% a year, cheaper than the typical inverse single-stock fund and a full step below NVDS, the other ETF aimed at inverse NVDA.
  • The mandate is -1x, not -2x. Daily compounding still shapes results, but single-strength inverse drifts less than the double-short bears beside it, like MSTZ and TSDD.
  • Hits its stated daily target about as tightly as anything in the inverse single-stock group, with a live track record since its 2023 launch.
  • It trades like any other ETF ticker rather than a short sale, so there is no margin-call machinery and no exposure beyond what you put in.
  • 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

  • NVDD The -1x applies to one day at a time. Hold through a choppy stretch and the result can diverge meaningfully from the inverse of NVDA's move over that stretch.
  • One stock, one story. Earnings night, a supply headline, a rival's chip: NVIDIA news drives the entire position, with nothing else to cushion it.
  • A small fund with moderate trading activity, so spreads and execution costs can stack on top of the 1.01% fee.
  • 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 NVDD profile⁠

Full TSLS profile⁠

NVDD 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.

NVDD vs TSLS Cost

Overpaying NVDD vs TSLS

$981

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

  • NVDD 1.01%

    $18,850

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • NVDD 1.01%
  • 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$20K051015202530NVDD $18,850TSLS $17,869

Year by year

YearNVDDTSLSOverpaying
10$1,780$1,678$102
20$6,686$6,322$364
30$18,850$17,869$981

Expense ratio

  • 1.01%NVDD
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

NVDD 10th cheapest of 43 funds

NVDD vs TSLS Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
NVDD 3.75%, better
TSLS 2.99%
Payout (12M)
NVDD $1.36
TSLS $1.57
Last payment
NVDD $0.49
TSLS $0.40
Ex-dividend
NVDD Sep 22, 2026
TSLS Sep 22, 2026
Paid on
NVDD Sep 29, 2026
TSLS Sep 29, 2026
Frequency
NVDD Quarterly
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

NVDDQuarterly · 13 paymentsAll NVDD payments⁠
One bar per payment. 13 payments from 2022 to 2026 YTD. Dec 8, 2023 $0.03; Dec 21, 2023 $0.26; Mar 19, 2024 $0.12; Jun 25, 2024 $0.05; Sep 24, 2024 $0.07; Dec 23, 2024 $0.08; Mar 25, 2025 $0.05; Jun 24, 2025 $0.04; Sep 23, 2025 $0.04; Dec 23, 2025 $0.34; Mar 24, 2026 $0.26; Jun 23, 2026 $0.28; Sep 22, 2026 $0.49. 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

NVDD vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NVDD 32.7%, betterTSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
NVDD −2.03TSLS −0.76, better
Worst fallMax drawdown, 5 years
NVDD −89.6%since Sep 2023TSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
NVDD −1.72TSLS −1.37

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