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PALD vs TSLS

Direxion Daily PANW Bear 1X ETF

PALDCNasdaq

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.07pt a year

PALD1.02%TSLS0.95%

Avg volume · 30D

TSLS 2.8×the volume

PALD109KTSLS304K

PALD vs TSLS Performance

Nov 7, 2025 – Nov 9, 2026

−47.6%PALD−0.7%TSLS

Nov 7, 2025 to Nov 9, 2026. PALD −47.6%. TSLS −0.7%. Use the arrow keys to read each point.−60%−20%20%40%Nov 2025May 2026Nov 2026
Expense ratio
PALD 1.02%
TSLS 0.95%, better
Fund size
PALD $4M
TSLS $44M
1Y total return
PALD −47.6%
TSLS −0.7%, better
Yield (12M)
PALD 4.95%, better
TSLS 2.99%
Holdings
PALD 4
TSLS 4
Avg volume (30D)
PALD 109K sh
TSLS 304K sh, better
NAV per share
PALD $11.37
TSLS $55.63
52W range

ETF.net Grade

PALD: Cost 78, Risk 48, Mission 93, Tradability 29, Holdings not scored, Durability 52. TSLS: Cost 97, Risk 76, Mission 87, Tradability 45, Holdings not scored, Durability 81.
Pillar letters and Scores for PALD, TSLS, with each pillar’s weight
PillarPALDTSLS
Cost30% weightA78A97Higher
Mission25% weightA93HigherA87
Risk15% weightC48A76Higher
Tradability15% weightD29C45Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC52A81Higher

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. PALD 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 PALD 27th 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 27CNFXSDirexion Daily NFLX Bear 1X ETFScore 40
  6. Rank 27CPALDDirexion Daily PANW Bear 1X ETFScore 40
  7. Rank 27CQCMDDirexion Daily QCOM Bear 1X SharesScore 40

Our read on each fund

ETF.net Research

PALDCDirexion Daily PANW Bear 1X ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

PALD Short Palo Alto Networks in one ticker. PALD targets -100% of PANW's move each trading day, held through swaps rather than borrowed shares, with no leverage stacked on top. A one-day tool by design.

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

PALD The fund seeks daily investment results equal to 100% of the inverse performance of Palo Alto Networks, Inc. common shares, 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

  • PALD Unleveraged inverse: a 1% up day in PANW means roughly a 1% down day for the fund before fees. No 2x or 3x amplifier on the trade.
  • Costs 1.02% net of a waiver through September 1, 2027, against a 2.33% gross ratio, and that lands below the category median fee.direxion.com
  • Exposure runs through swap agreements with major global financial institutions, rebalanced daily, so there is no stock borrow to arrange yourself.sec.gov
  • Day to day it has stayed close to its stated inverse target, which is the whole job of a one-day fund.
  • 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

  • PALD Daily reset: hold past one session and returns compound off each close, so a choppy stretch can land far from the simple inverse of PANW's move.sec.gov
  • One stock, no diversification. A PANW earnings gap arrives in full overnight, before the market reopens.sec.gov
  • Small fund with moderate volume, so spreads can widen in fast markets. The waiver ends September 1, 2027; without renewal the 2.33% gross applies.
  • 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 PALD profile⁠

Full TSLS profile⁠

PALD 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.

PALD vs TSLS Cost

Overpaying PALD vs TSLS

$1,143

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

  • PALD 1.02%

    $19,012

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • PALD 1.02%
  • 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$20K051015202530PALD $19,012TSLS $17,869

Year by year

YearPALDTSLSOverpaying
10$1,797$1,678$119
20$6,746$6,322$424
30$19,012$17,869$1,143

Expense ratio

  • 1.02%PALD
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

PALD 12th cheapest of 43 funds

PALD vs TSLS Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
PALD 4.95%, better
TSLS 2.99%
Payout (12M)
PALD $0.53
TSLS $1.57
Last payment
PALD $0.10
TSLS $0.40
Ex-dividend
PALD Sep 22, 2026
TSLS Sep 22, 2026
Paid on
PALD Sep 29, 2026
TSLS Sep 29, 2026
Frequency
PALD Quarterly
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

PALDQuarterly · 5 paymentsAll PALD payments⁠
One bar per payment. 5 payments from 2022 to 2026 YTD. Jun 24, 2025 $0.20; Sep 23, 2025 $0.19; Dec 23, 2025 $0.40; Jun 23, 2026 $0.04; Sep 22, 2026 $0.10. 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

PALD vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PALD 46.1%since Apr 2025TSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
PALD −1.16since Apr 2025TSLS −0.76
Worst fallMax drawdown, 5 years
PALD −70.9%since Mar 2025TSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
PALD −1.01TSLS −1.37

Popular comparisons

  • PALDCvsAAPDA

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

    Expense ratio
    1.02% · 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.

  • PALDCvsTSDDA

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

    Expense ratio
    1.02% · 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.

  • PALDCvsAMZDA

    Direxion Daily PANW Bear 1X ETF · Direxion Daily AMZN Bear 1X ETF

    Expense ratio
    1.02% · 1.02%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TSLSAvsAMZDA

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

    Expense ratio
    0.95% · 1.02%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.