Skip to content
etf.net

NVDQ vs TSLS

T-REX 2X Inverse NVIDIA Daily Target ETF

NVDQBCboe

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.10pt a year

NVDQ1.05%TSLS0.95%

Avg volume · 30D

NVDQ 13.4×the volume

NVDQ5.51MTSLS410K

3Y return · a year

TSLS +43.9pt

NVDQ−82.4%TSLS−38.5%

NVDQ vs TSLS Performance

Oct 31, 2025 – Oct 30, 2026

−34.8%NVDQ+1.0%TSLS

Oct 31, 2025 to Oct 30, 2026. NVDQ −34.8%. TSLS +1.0%. Use the arrow keys to read each point.−20%20%40%Oct 2025Apr 2026Oct 2026
Expense ratio
NVDQ 1.05%
TSLS 0.95%, better
Fund size
NVDQ $17M
TSLS $39M
1Y total return
NVDQ −34.8%
TSLS +1.0%, better
Yield (12M)
NVDQ 0.44%
TSLS 3.11%, better
Holdings
NVDQ 2
TSLS 4
Avg volume (30D)
NVDQ 5.51M sh, better
TSLS 410K sh
NAV per share
NVDQ $9.14
TSLS $50.04
52W range

ETF.net Grade

NVDQ: Cost 65, Risk 33, Mission 92, Tradability 50, Holdings not scored, Durability 58. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for NVDQ, TSLS, with each pillar’s weight
PillarNVDQTSLS
Cost30% weightB65A97Higher
Mission25% weightA92HigherA87
Risk15% weightD33A75Higher
Tradability15% weightC50HigherC45
Holdings10% weightNot scoredNot scored
Durability5% weightB58A82Higher

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. NVDQ 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 NVDQ 19th 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 18BPLTZDaily Target 2X Short PLTR ETFScore 65
  7. Rank 19BNVDQT-REX 2X Inverse NVIDIA Daily Target ETFScore 64
  8. Rank 20BMUDDirexion Daily MU Bear 1X ETFScore 60

Our read on each fund

ETF.net Research

NVDQBT-REX 2X Inverse NVIDIA Daily Target ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

NVDQ One ticker, one bet: NVDQ aims to deliver 200% of the inverse of Nvidia's daily move, so a 1% slip in NVDA targets a 2% gain that day. T-REX built it as a day-trader's tool, and the math resets every session.

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

NVDQ The Fund seeks daily investment results, before fees and expenses, equal to 200% of the inverse of NVDA's daily performance. It is designed as a short-term trading vehicle and does not target results beyond 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

  • NVDQ Bearish on Nvidia without a margin account or borrowed shares: the fund targets 200% of the inverse of NVDA's one-day move inside a plain brokerage trade.rexshares.com
  • At 1.05% a year it sits at the cheaper end of the leveraged single-stock aisle, matching stablemate MSTZ and undercutting the typical inverse peer.
  • Day-to-day delivery has stayed close to the stated -2x target, one of the stronger implementations among inverse single-stock funds.
  • Running since 2023 and among the more actively traded names in this narrow corner of the market, which matters when the holding period 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

  • NVDQ The leverage resets daily. Hold longer than a session and results can drift well away from -2x, and choppy back-and-forth in NVDA erodes value.
  • It cuts both ways: a 1% up day in NVDA targets roughly a 2% loss for the fund that day.
  • 1.05% is many times a broad index fund's fee, and the fund's own documents describe it as a short-term trading vehicle, not a long-hold position.rexshares.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 NVDQ profile⁠

Full TSLS profile⁠

NVDQ 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.

NVDQ vs TSLS Cost

Overpaying NVDQ vs TSLS

$1,626

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

  • NVDQ 1.05%

    $19,495

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • NVDQ 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$20K051015202530NVDQ $19,495TSLS $17,869

Year by year

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

Expense ratio

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

TSLS 2nd cheapest of 43 funds

NVDQ 20th cheapest of 43 funds

NVDQ vs TSLS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
NVDQ 0.44%
TSLS 3.11%, better
Payout (12M)
NVDQ $0.04
TSLS $1.57
Last payment
NVDQ $0.04
TSLS $0.40
Ex-dividend
NVDQ Dec 24, 2025
TSLS Sep 22, 2026
Paid on
NVDQ Dec 26, 2025
TSLS Sep 29, 2026
Frequency
NVDQ Annual
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

NVDQAnnual · 2 paymentsAll NVDQ payments⁠
One bar per payment. 2 payments from 2022 to 2026 YTD. Dec 24, 2024 $3.05; Dec 24, 2025 $0.04. 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

NVDQ vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NVDQ 60.6%TSLS 51.7%, better
Return per unit of riskSharpe ratio, 3 years
NVDQ −2.40TSLS −0.76, better
Worst fallMax drawdown, 5 years
NVDQ −99.6%since Oct 2023TSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
NVDQ −2.94TSLS −1.41

Popular comparisons

  • NVDQBvsAAPDA

    T-REX 2X Inverse NVIDIA Daily Target ETF · Direxion Daily AAPL Bear 1X ETF

    Expense ratio
    1.05% · 0.96%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSLSAvsAAPDA

    Direxion Daily TSLA Bear 1X ETF · Direxion Daily AAPL Bear 1X ETF

    Expense ratio
    0.95% · 0.96%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NVDQBvsTSDDA

    T-REX 2X Inverse NVIDIA Daily Target ETF · GraniteShares 2x Short TSLA Daily ETF

    Expense ratio
    1.05% · 0.98%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSLSAvsTSDDA

    Direxion Daily TSLA Bear 1X ETF · GraniteShares 2x Short TSLA Daily ETF

    Expense ratio
    0.95% · 0.98%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NVDQBvsSKHZA

    T-REX 2X Inverse NVIDIA Daily Target ETF · Leverage Shares 1X Short SK Hynix Daily ETF

    Expense ratio
    1.05% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSLSAvsSKHZA

    Direxion Daily TSLA Bear 1X ETF · Leverage Shares 1X Short SK Hynix Daily ETF

    Expense ratio
    0.95% · 0.75%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.