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RGTZ vs TSLS

Defiance Daily Target 2X Short RGTI ETF

RGTZCNasdaq

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.88pt a year

RGTZ1.83%TSLS0.95%

Avg volume · 30D

RGTZ 1.7×the volume

RGTZ680KTSLS410K

RGTZ vs TSLS Performance

Oct 31, 2025 – Oct 30, 2026

−54.0%RGTZ+1.0%TSLS

Oct 31, 2025 to Oct 30, 2026. RGTZ −54.0%. TSLS +1.0%. Use the arrow keys to read each point.50%100%150%200%Oct 2025Apr 2026Oct 2026
Expense ratio
RGTZ 1.83%
TSLS 0.95%, better
Fund size
RGTZ $14M
TSLS $39M
1Y total return
RGTZ −54.0%
TSLS +1.0%, better
Yield (12M)
RGTZ No data
TSLS 3.11%
Holdings
RGTZ 3
TSLS 4
Avg volume (30D)
RGTZ 680K sh, better
TSLS 410K sh
NAV per share
RGTZ $25.61
TSLS $50.04
52W range

ETF.net Grade

RGTZ: Cost 5, Risk 43, Mission 83, Tradability 31, Holdings not scored, Durability 53. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for RGTZ, TSLS, with each pillar’s weight
PillarRGTZTSLS
Cost30% weightF5A97Higher
Mission25% weightA83A87Higher
Risk15% weightC43A75Higher
Tradability15% weightD31C45Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC53A82Higher

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. RGTZ 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 RGTZ 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 28CQCMDDirexion Daily QCOM Bear 1X SharesScore 40
  7. Rank 28CRGTZDefiance Daily Target 2X Short RGTI ETFScore 40
  8. Rank 28CRKLZDefiance Daily Target 2X Short RKLB ETFScore 40

Our read on each fund

ETF.net Research

RGTZCDefiance Daily Target 2X Short RGTI ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

RGTZ The first ETF built to short Rigetti two-for-one. RGTZ aims for -200% of the quantum computing stock's move each trading day, with the clock reset at every close, and charges 1.83%.

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

RGTZ The fund seeks daily inverse results of negative two times the daily percentage change in Rigetti Computing, Inc.’s share price. It is intended for short-term tactical use and does not target results beyond one 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

  • RGTZ Aims for -200% of Rigetti's daily move, so one session's drop in the quantum name counts double, bought like any share rather than borrowing stock to short.defianceetfs.com
  • Launched in October 2025 as the first 2X short ETF on Rigetti Computing, part of Defiance's single-stock leveraged lineup.defianceetfs.com
  • One of the more actively traded funds in the single-stock bear group, which matters for a strategy measured in hours rather than quarters.
  • Has stayed close to its stated daily target, and sits in the upper half of its single-stock bear peer group on our review.
  • 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

  • RGTZ The daily reset is the whole story. Hold past the close and returns compound: the prospectus notes losses are possible even if Rigetti's stock falls over a longer stretch.sec.gov
  • At 1.83%, the fee sits above the single-stock bear category median, with no waiver trimming it.
  • A small fund with a short history, and its own documents describe it as a tool for investors who monitor positions frequently, not a buy-and-hold holding.sec.gov
  • 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 RGTZ profile⁠

Full TSLS profile⁠

RGTZ 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.

RGTZ vs TSLS Cost

Overpaying RGTZ vs TSLS

$12,885

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

  • RGTZ 1.83%

    $30,754

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • RGTZ 1.83%
  • TSLS 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K051015202530RGTZ $30,754TSLS $17,869

Year by year

YearRGTZTSLSOverpaying
10$3,117$1,678$1,439
20$11,291$6,322$4,969
30$30,754$17,869$12,885

Expense ratio

  • 1.83%RGTZ
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

RGTZ 40th cheapest of 43 funds

RGTZ vs TSLS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
RGTZ No data
TSLS 3.11%
Payout (12M)
RGTZ None
TSLS $1.57
Last payment
RGTZ No data
TSLS $0.40
Ex-dividend
RGTZ No data
TSLS Sep 22, 2026
Paid on
RGTZ No data
TSLS Sep 29, 2026
Frequency
RGTZ No data
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

RGTZAll RGTZ payments⁠

No distribution history available.

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

RGTZ vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
RGTZ 180.0%since Nov 2025TSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
RGTZ 0.49since Nov 2025TSLS −0.76
Worst fallMax drawdown, 5 years
RGTZ −92.9%since Oct 2025TSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
RGTZ −7.29TSLS −1.41

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