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RKLZ vs TSLS

Defiance Daily Target 2X Short RKLB ETF

RKLZCNasdaq

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.34pt a year

RKLZ1.29%TSLS0.95%

Avg volume · 30D

RKLZ 6.9×the volume

RKLZ2.82MTSLS410K

RKLZ vs TSLS Performance

Dec 31, 2025 – Oct 30, 2026

−89.5%RKLZ+1.5%TSLS

Dec 31, 2025 to Oct 30, 2026. RKLZ −89.5%. TSLS +1.5%. Use the arrow keys to read each point.−50%−25%25%Dec 2025Jun 2026Oct 2026
Expense ratio
RKLZ 1.29%
TSLS 0.95%, better
Fund size
RKLZ $3M
TSLS $39M
1Y total return
RKLZ No data
TSLS +1.0%
Yield (12M)
RKLZ No data
TSLS 3.11%
Holdings
RKLZ 1
TSLS 4
Avg volume (30D)
RKLZ 2.82M sh, better
TSLS 410K sh
NAV per share
RKLZ $21.63
TSLS $50.04
52W range

ETF.net Grade

RKLZ: Cost 55, Risk 12, Mission 99, Tradability 45, Holdings not scored, Durability 37. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for RKLZ, TSLS, with each pillar’s weight
PillarRKLZTSLS
Cost30% weightB55A97Higher
Mission25% weightA99HigherA87
Risk15% weightF12A75Higher
Tradability15% weightC45C45
Holdings10% weightNot scoredNot scored
Durability5% weightD37A82Higher

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. RKLZ 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 RKLZ 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 28CRGTZDefiance Daily Target 2X Short RGTI ETFScore 40
  7. Rank 28CRKLZDefiance Daily Target 2X Short RKLB ETFScore 40
  8. Rank 28CTSMZDirexion Daily TSM Bear 1X ETFScore 40

Our read on each fund

ETF.net Research

RKLZCDefiance Daily Target 2X Short RKLB ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

RKLZ Nearly every inverse single-stock ETF points at a mega-cap. Defiance aimed this one at a rocket builder: RKLZ seeks -2x Rocket Lab's daily move, reset each day. A one-session tool on one of the market's twitchiest space names.

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

RKLZ The fund seeks amplified inverse daily exposure to the common stock of Rocket Lab Corporation.

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

  • RKLZ A rare short target. Inverse single-stock funds cluster around mega-caps (AAPD, TSLS, MSFD); this one takes the other side of Rocket Lab, no margin account or borrowed shares required.
  • Simple, single job: -2x of RKLB's daily move, exposure reset each morning. The fund has hewed closely to that stated daily target.defianceetfs.com
  • Actively traded for a young fund, which matters when the intended holding period is a single session.
  • 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

  • RKLZ The daily reset compounds. Hold past a day and results can diverge sharply from -2x the stock's move over that stretch, and choppy trading erodes value.
  • 1.29% a year is standard for leveraged single-stock funds, but above inverse peers such as TSLS (0.95%) and AAPD (0.96%).
  • Launched November 2025 with a small asset base and no distributions, so there is little track record and less scale than long-running peers.
  • 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 RKLZ profile⁠

Full TSLS profile⁠

RKLZ 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.

RKLZ vs TSLS Cost

Overpaying RKLZ vs TSLS

$5,350

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

  • RKLZ 1.29%

    $23,219

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • RKLZ 1.29%
  • 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$25K051015202530RKLZ $23,219TSLS $17,869

Year by year

YearRKLZTSLSOverpaying
10$2,247$1,678$569
20$8,335$6,322$2,013
30$23,219$17,869$5,350

Expense ratio

  • 1.29%RKLZ
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

RKLZ 25th cheapest of 43 funds

RKLZ vs TSLS Dividends

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

Distribution history

Per share, 2022 to 2026, same scale for both

RKLZAll RKLZ 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

RKLZ vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
RKLZ No dataTSLS 51.7%
Return per unit of riskSharpe ratio, 3 years
RKLZ No dataTSLS −0.76
Worst fallMax drawdown, 5 years
RKLZ No dataTSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
RKLZ −5.24TSLS −1.41

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