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TSDD vs TSLZ

GraniteShares 2x Short TSLA Daily ETF

TSDDANasdaq

T-REX 2X Inverse Tesla Daily Target ETF

TSLZBCboe

Overlap

0.0%by weight

Expense ratio

TSDD −0.07pt a year

TSDD0.98%TSLZ1.05%

Avg volume · 30D

TSDD 4.1×the volume

TSDD10.1MTSLZ2.47M

3Y return · a year

TSDD +1.0pt

TSDD−72.5%TSLZ−73.5%

TSDD vs TSLZ Performance

Nov 6, 2025 – Nov 6, 2026

−12.5%TSDD−14.3%TSLZ

Nov 6, 2025 to Nov 6, 2026. TSDD −12.5%. TSLZ −14.3%. Use the arrow keys to read each point.0%20%40%Nov 2025May 2026Nov 2026
Expense ratio
TSDD 0.98%, better
TSLZ 1.05%
Fund size
TSDD $33M
TSLZ $31M
1Y total return
TSDD −12.5%, better
TSLZ −14.3%
Yield (12M)
TSDD 8.82%, better
TSLZ 0.73%
Holdings
TSDD 1
TSLZ 2
Avg volume (30D)
TSDD 10.1M sh, better
TSLZ 2.47M sh
NAV per share
TSDD $8.06
TSLZ $12.13
52W range

ETF.net Grade

TSDD: Cost 94, Risk 50, Mission 98, Tradability 80, Holdings not scored, Durability 72. TSLZ: Cost 65, Risk 50, Mission 100, Tradability 45, Holdings not scored, Durability 64.
Pillar letters and Scores for TSDD, TSLZ, with each pillar’s weight
PillarTSDDTSLZ
Cost30% weightA94HigherB65
Mission25% weightA98A100Higher
Risk15% weightC50C50
Tradability15% weightA80HigherC45
Holdings10% weightNot scoredNot scored
Durability5% weightA72HigherB64

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. TSDD and TSLZ 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 ›

TSDD ranks 1st and TSLZ 14th of 43 funds in the Single-Stock Inverse Category.

  1. Rank 1AAAPDDirexion Daily AAPL Bear 1X ETFScore 84
  2. Rank 1ATSDDGraniteShares 2x Short TSLA Daily ETFScore 84
  3. Rank 3ATSLSDirexion Daily TSLA Bear 1X ETFScore 81
  4. Rank 12ANVDGraniteShares 2x Short NVDA Daily ETFScore 70
  5. Rank 14BTSLZT-REX 2X Inverse Tesla Daily Target ETFScore 68
  6. Rank 15BNVDSTradr 1.5X Short NVDA Daily ETFScore 67

Our read on each fund

ETF.net Research

TSDDAGraniteShares 2x Short TSLA Daily ETF

TSLZBT-REX 2X Inverse Tesla Daily Target ETF

In short

TSDD Tesla bears pick their dosage; this is the double. TSDD aims for -2x TSLA's move each day, reset daily, at 0.95% net of a waiver through December 31, 2026. Designed as a short-term tool, not a buy-and-forget holding.

TSLZ Shorting Tesla without a margin account. TSLZ uses swaps to aim for -2x Tesla's move each trading day, resets at the close, and is the cheaper of the two double-short Tesla funds. Built for day-scale trades, not the long haul.

Stated mandate

TSDD The fund seeks daily results before fees and expenses equal to negative 200% of the daily percentage change in Tesla's common stock. It is designed as a short-term inverse leveraged vehicle.

TSLZ The Fund seeks daily investment results equal to -200% of the daily performance of Tesla, Inc., before fees and expenses. It is intended as a short-term trading vehicle and is not designed to track Tesla over periods longer than one trading day.

Why people hold it

  • TSDD 0.95% net of a waiver through December 31, 2026 (1.13% gross) undercuts fellow 2x short Tesla fund TSLZ at 1.05% and matches 1x bear TSLS at 0.95%, for double the daily exposure.
  • Hews closely to its stated -2x daily target, one of the tighter implementations among single-stock bear funds.
  • Heavily traded for an inverse single-stock fund, so getting in and out is rarely a chore.
  • A 1940 Act ETF that uses swaps and options on TSLA to sit near 200% short at each close: no margin account or stock borrow on your end.graniteshares.com
  • TSLZ At 1.05%, it's the cheaper of the two double-short Tesla ETFs (TSDD charges 1.13%) and sits below the typical fee in the leveraged single-stock bear group.
  • Total return swaps with major financial institutions do the work, so the -2x Tesla exposure arrives in a plain brokerage account: no share borrow, no locate.sec.gov
  • Actively traded, and it has tracked its stated -2x daily target closely, one of the stronger implementations among leveraged single-stock bear funds.

Worth knowing

  • TSDD The -2x target resets every day. Hold longer and compounding pulls results away from -2x TSLA's cumulative move, in either direction.graniteshares.com
  • One stock, geared twice: a sharp TSLA rally bites just as hard in reverse. Risk is the highest-octane part of this package.
  • A small fund, and the fee waiver runs through December 31, 2026; after that costs can step up toward the 1.13% gross level.
  • TSLZ Daily reset: the -2x target applies to one session. Hold longer and compounding pushes the result away from -2x Tesla's move over that stretch.
  • Twice the daily move in both directions. For less octane, Direxion's TSLS targets -1x on Tesla at 0.95%.
  • The prospectus calls it a short-term trading vehicle, and swap exposure means counterparty risk rather than borrowed shares.sec.gov

Full TSDD profile⁠

Full TSLZ profile⁠

TSDD vs TSLZ Holdings

How TSDD and TSLZ differ

Overlap by weight

0.0%

About this figure: TSDD gets much of its exposure from swaps and futures, which aren’t counted.

TSLZ gets much of its exposure from swaps and futures, which aren’t counted.

Level by level

  • Asset classLeveraged/Inverse, Stocks0.0%
  • Holdings0 in both0.0%

Sector

No Sector split for TSLZ.

Country, concentration and asset class

Country by domicile

No country split for TSLZ.

Concentration

Weight in the 10 largest Holdings

  • TSDD200.2%
  • TSLZ158.4%

Securities held

  • TSDD1
  • TSLZ1

Asset class

TSDD
Leveraged/Inverse
TSLZ
Stocks

Holdings

  • Only in TSDD1
  • In both0
  • Only in TSLZ1

Only in TSDD

1 security, 100% of TSDD by weight

  • Tsla200.23%

Only in TSLZ

1 security, 71.7% of TSLZ by weight

  • Recv Tslz Trs Tsla Eq71.73%

Weight gaps

TSDD and TSLZ share no securities.

All 2 TSDD holdings⁠All 7 TSLZ 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.

TSDD vs TSLZ Cost

Overpaying TSLZ vs TSDD

$1,133

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

  • TSDD 0.98%

    $18,362

  • TSLZ 1.05%

    $19,495

$10,000
30 years

Cost over time

  • TSDD 0.98%
  • TSLZ 1.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TSLZ $19,495TSDD $18,362

Year by year

YearTSDDTSLZOverpaying
10$1,729$1,847$118
20$6,504$6,927$423
30$18,362$19,495$1,133

Expense ratio

  • 0.98%TSDD, cheaper
  • 1.05%TSLZ
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSDD 5th cheapest of 43 funds

TSLZ 20th cheapest of 43 funds

TSDD vs TSLZ Dividends

Last 12 months to Nov 6, 2026
Yield (12M)
TSDD 8.82%, better
TSLZ 0.73%
Payout (12M)
TSDD $0.65
TSLZ $0.08
Last payment
TSDD $0.65
TSLZ $0.08
Ex-dividend
TSDD Dec 29, 2025
TSLZ Dec 24, 2025
Paid on
TSDD Dec 31, 2025
TSLZ Dec 26, 2025
Frequency
TSDD Irregular
TSLZ Annual

Distribution history

Per share, 2023 to 2026, same scale for both

TSDDIrregular · 2 paymentsAll TSDD payments⁠
One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 27, 2023 $77.34; Dec 29, 2025 $0.65. Use the arrow keys to read each point.$0$5020232026YTD
TSLZAnnual · 3 paymentsAll TSLZ payments⁠
One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 26, 2023 $55.18; Dec 24, 2024 $1.04; Dec 24, 2025 $0.08. Use the arrow keys to read each point.$0$5020232026YTD

TSDD vs TSLZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TSDD 100.6%, betterTSLZ 103.6%
Return per unit of riskSharpe ratio, 3 years
TSDD −0.87TSLZ −0.87Same figure. Both funds show the same value, so neither comes out ahead.
Worst fallMax drawdown, 5 years
TSDD −99.1%since Aug 2023TSLZ −99.2%since Oct 2023
Market sensitivityBeta, 5 years
TSDD −2.40TSLZ −2.32

TSDD and TSLZ in the news

All news⁠

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