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NVDS vs TSLS

Tradr 1.5X Short NVDA Daily ETF

NVDSBNasdaq

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.20pt a year

NVDS1.15%TSLS0.95%

Avg volume · 30D

TSLS 1.5×the volume

NVDS274KTSLS410K

3Y return · a year

TSLS +25.4pt

NVDS−62.2%TSLS−36.8%

NVDS vs TSLS Performance

Oct 31, 2025 – Nov 2, 2026

−16.8%NVDS0.0%TSLS

Oct 31, 2025 to Nov 2, 2026. NVDS −16.8%. TSLS 0.0%. Use the arrow keys to read each point.20%40%Oct 2025May 2026Nov 2026
Expense ratio
NVDS 1.15%
TSLS 0.95%, better
Fund size
NVDS $14M
TSLS $40M
1Y total return
NVDS −16.8%
TSLS 0.0%, better
Yield (12M)
NVDS 18.89%, better
TSLS 3.14%
Holdings
NVDS 2
TSLS 4
Avg volume (30D)
NVDS 274K sh
TSLS 410K sh, better
NAV per share
NVDS $21.04
TSLS $50.50
52W range

ETF.net Grade

NVDS: Cost 61, Risk 52, Mission 99, Tradability 53, Holdings not scored, Durability 55. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for NVDS, TSLS, with each pillar’s weight
PillarNVDSTSLS
Cost30% weightB61A97Higher
Mission25% weightA99HigherA87
Risk15% weightC52A75Higher
Tradability15% weightC53HigherC45
Holdings10% weightNot scoredNot scored
Durability5% weightB55A82Higher

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. NVDS 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 NVDS 14th 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 14BMSTZT-REX 2X Inverse MSTR Daily Target ETFScore 68
  6. Rank 14BNVDSTradr 1.5X Short NVDA Daily ETFScore 68
  7. Rank 14BTSLZT-REX 2X Inverse Tesla Daily Target ETFScore 68

Our read on each fund

ETF.net Research

NVDSBTradr 1.5X Short NVDA Daily ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

NVDS The original inverse NVIDIA ETF, trading since 2022, and the one that dials short exposure to 1.5x instead of 1x. Built for a single session at a time, at 1.15% net of a waiver through July 31, 2027.

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

NVDS The fund seeks daily investment results equal to one and a half times the inverse performance of NVIDIA common shares. It is designed to pursue this objective for 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

  • NVDS The first-mover: listed July 2022, over a year before Direxion's bear NVDA fund (NVDD) arrived in September 2023. Longest live history in inverse-NVDA land.direxion.com
  • 1.5x short, not 1x. Each dollar carries one and a half dollars of inverse NVDA exposure, versus the 1x of NVDD, so less capital is tied up for the same short notional.direxion.com
  • 1.15% net of a waiver through July 31, 2027, below the median fee in the leveraged-bear single-stock group.
  • Day-to-day delivery of the stated -1.5x objective has been tight, and the fund sits in the upper half of its bear single-stock peer group.
  • 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

  • NVDS The objective resets every day. Hold past one session and NVDA's path, not just its direction, drives the outcome; compounding can pull results away from -1.5x.
  • Leverage cuts both ways: an up day in NVDA lands one and a half times as hard. One stock, one chip cycle, no diversification to soften it.
  • A small fund that trades moderately rather than heavily, so spreads deserve a look. Gross fee is 1.56% if the waiver lapses after July 31, 2027.
  • 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 NVDS profile⁠

Full TSLS profile⁠

NVDS 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.

NVDS vs TSLS Cost

Overpaying NVDS vs TSLS

$3,208

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

  • NVDS 1.15%

    $21,077

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • NVDS 1.15%
  • 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$25K051015202530NVDS $21,077TSLS $17,869

Year by year

YearNVDSTSLSOverpaying
10$2,015$1,678$337
20$7,521$6,322$1,199
30$21,077$17,869$3,208

Expense ratio

  • 1.15%NVDS
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

NVDS 23rd cheapest of 43 funds

NVDS vs TSLS Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
NVDS 18.89%, better
TSLS 3.14%
Payout (12M)
NVDS $3.97
TSLS $1.57
Last payment
NVDS $3.97
TSLS $0.40
Ex-dividend
NVDS Dec 23, 2025
TSLS Sep 22, 2026
Paid on
NVDS Dec 26, 2025
TSLS Sep 29, 2026
Frequency
NVDS Annual
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

NVDSAnnual · 4 paymentsAll NVDS payments⁠
One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 27, 2022 $169.43; Dec 26, 2023 $64.08; Dec 23, 2024 $10.76; Dec 23, 2025 $3.97. Use the arrow keys to read each point.$0$10020232026YTD
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$10020232026YTD

NVDS vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NVDS 44.2%, betterTSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
NVDS −2.05TSLS −0.76, better
Worst fallMax drawdown, 5 years
NVDS −99.5%since Jul 2022TSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
NVDS −2.23TSLS −1.41

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