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TSDD vs TSMZ

GraniteShares 2x Short TSLA Daily ETF

TSDDANasdaq

Direxion Daily TSM Bear 1X ETF

TSMZCNasdaq

Overlap

0.0%by weight

Expense ratio

TSDD −0.03pt a year

TSDD0.98%TSMZ1.01%

Avg volume · 30D

TSDD 105.7×the volume

TSDD11MTSMZ104K

TSDD vs TSMZ Performance

Oct 31, 2025 – Oct 30, 2026

−24.7%TSDD−33.5%TSMZ

Oct 31, 2025 to Oct 30, 2026. TSDD −24.7%. TSMZ −33.5%. Use the arrow keys to read each point.0%20%40%Oct 2025Apr 2026Oct 2026
Expense ratio
TSDD 0.98%, better
TSMZ 1.01%
Fund size
TSDD $31M
TSMZ $3M
1Y total return
TSDD −24.7%, better
TSMZ −33.5%
Yield (12M)
TSDD 10.55%, better
TSMZ 3.95%
Holdings
TSDD 1
TSMZ 3
Avg volume (30D)
TSDD 11M sh, better
TSMZ 104K sh
NAV per share
TSDD $6.07
TSMZ $7.54
52W range

ETF.net Grade

TSDD: Cost 94, Risk 49, Mission 98, Tradability 81, Holdings not scored, Durability 72. TSMZ: Cost 78, Risk 56, Mission 96, Tradability 21, Holdings not scored, Durability 51.
Pillar letters and Scores for TSDD, TSMZ, with each pillar’s weight
PillarTSDDTSMZ
Cost30% weightA94HigherA78
Mission25% weightA98HigherA96
Risk15% weightC49B56Higher
Tradability15% weightA81HigherF21
Holdings10% weightNot scoredNot scored
Durability5% weightA72HigherC51

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 TSMZ 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 2nd and TSMZ 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 28CRKLZDefiance Daily Target 2X Short RKLB ETFScore 40
  5. Rank 28CTSMZDirexion Daily TSM Bear 1X ETFScore 40
  6. Rank 36DQBTZDefiance Daily Target 2X Short QBTS ETFScore 39

Our read on each fund

ETF.net Research

TSDDAGraniteShares 2x Short TSLA Daily ETF

TSMZCDirexion Daily TSM Bear 1X 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.

TSMZ A one-to-one short on the world's biggest chip foundry. TSMZ aims to deliver 100% of the inverse of Taiwan Semiconductor's daily move, with no leverage stacked on top, at 1.01% net of a waiver through September 1, 2027.

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.

TSMZ The fund seeks daily investment results equal to 100% of the inverse performance of Taiwan Semiconductor Manufacturing Co Ltd common shares, before fees and expenses.

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
  • TSMZ Straight -1x, not 2x or 3x. The fund targets 100% of the inverse of TSM's daily move before fees, so a day's result is sized to the stock itself.direxion.com
  • 1.01% net of a waiver through September 1, 2027 (1.47% gross) runs below the median of its 54-fund category, and a shade under Direxion's AVS at 1.03% net of a waiver through September 1, 2027.
  • On the one thing a daily product has to do, it delivers: measured results have tracked the stated inverse target tightly since the October 2024 launch.

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.
  • TSMZ The target resets every day. Over longer holds, the path TSM takes matters as much as where it lands, and volatility compounds against you.direxion.com
  • One of the smaller and less actively traded names in its peer group, so spreads and order sizing deserve more attention than with the headline single-stock shorts.
  • One stock, no cushion. Direxion's own materials note these funds track a single stock rather than an index, "eliminating the benefits of diversification."direxion.com

Full TSDD profile⁠

Full TSMZ profile⁠

TSDD vs TSMZ Holdings

How TSDD and TSMZ differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of TSDD and 0.0% of TSMZ.

Level by level

  • Holdings0 in both0.0%
  • Asset classLeveraged/Inverse100%

Sector

No Sector split for TSMZ.

Country, concentration and asset class

Country by domicile

No country split for TSMZ.

Concentration

Weight in the 10 largest Holdings

  • TSDD199.9%
  • TSMZ1268.6%

Securities held

  • TSDD1
  • TSMZ1

Asset class

TSDD
Leveraged/Inverse
TSMZ
Leveraged/Inverse

Holdings

  • Only in TSDD1
  • In both0
  • Only in TSMZ1

Only in TSDD

1 security, 100% of TSDD by weight

  • Tsla199.89%

Only in TSMZ

1 security, 100% of TSMZ by weight

  • Goldman Finl Sq Trsry Inst 506224.29%

Weight gaps

TSDD and TSMZ share no securities.

All 2 TSDD holdings⁠All TSMZ 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 TSMZ Cost

Overpaying TSMZ vs TSDD

$488

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

  • TSDD 0.98%

    $18,362

  • TSMZ 1.01%

    $18,850

$10,000
30 years

Cost over time

  • TSDD 0.98%
  • TSMZ 1.01%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TSMZ $18,850TSDD $18,362

Year by year

YearTSDDTSMZOverpaying
10$1,729$1,780$51
20$6,504$6,686$182
30$18,362$18,850$488

Expense ratio

  • 0.98%TSDD, cheaper
  • 1.01%TSMZ
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSDD 5th cheapest of 43 funds

TSMZ 10th cheapest of 43 funds

TSDD vs TSMZ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
TSDD 10.55%, better
TSMZ 3.95%
Payout (12M)
TSDD $0.65
TSMZ $0.32
Last payment
TSDD $0.65
TSMZ $0.07
Ex-dividend
TSDD Dec 29, 2025
TSMZ Sep 22, 2026
Paid on
TSDD Dec 31, 2025
TSMZ Sep 29, 2026
Frequency
TSDD Irregular
TSMZ Quarterly

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
TSMZQuarterly · 8 paymentsAll TSMZ payments⁠
One bar per payment. 8 payments from 2023 to 2026 YTD. Dec 23, 2024 $0.19; Mar 25, 2025 $0.25; Jun 24, 2025 $0.12; Sep 23, 2025 $0.11; Dec 23, 2025 $0.11; Mar 24, 2026 $0.08; Jun 23, 2026 $0.06; Sep 22, 2026 $0.07. Use the arrow keys to read each point.$0$5020232026YTD

TSDD vs TSMZ 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%TSMZ 34.4%since Nov 2024
Return per unit of riskSharpe ratio, 3 years
TSDD −0.87TSMZ −1.35since Nov 2024
Worst fallMax drawdown, 5 years
TSDD −99.1%since Aug 2023TSMZ −75.1%since Oct 2024
Market sensitivityBeta, 5 years
TSDD −2.40TSMZ −1.25

Popular comparisons

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