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TSLQ vs TSLS

Tradr 2X Short TSLA Daily ETF

TSLQANasdaq

Direxion Daily TSLA Bear 1X ETF

TSLSANasdaq

Overlap

Expense ratio

TSLS −0.20pt a year

TSLQ1.15%TSLS0.95%

Avg volume · 30D

TSLQ 14.7×the volume

TSLQ6.03MTSLS410K

3Y return · a year

TSLS +33.0pt

TSLQ−71.5%TSLS−38.5%

TSLQ vs TSLS Performance

Oct 31, 2025 – Oct 30, 2026

−22.7%TSLQ+1.0%TSLS

Oct 31, 2025 to Oct 30, 2026. TSLQ −22.7%. TSLS +1.0%. Use the arrow keys to read each point.20%40%Oct 2025Apr 2026Oct 2026
Expense ratio
TSLQ 1.15%
TSLS 0.95%, better
Fund size
TSLQ $103M
TSLS $39M
1Y total return
TSLQ −22.7%
TSLS +1.0%, better
Yield (12M)
TSLQ 12.98%, better
TSLS 3.11%
Holdings
TSLQ 3
TSLS 4
Avg volume (30D)
TSLQ 6.03M sh, better
TSLS 410K sh
NAV per share
TSLQ $14.78
TSLS $50.04
52W range

ETF.net Grade

TSLQ: Cost 61, Risk 54, Mission 97, Tradability 90, Holdings not scored, Durability 73. TSLS: Cost 97, Risk 75, Mission 87, Tradability 45, Holdings not scored, Durability 82.
Pillar letters and Scores for TSLQ, TSLS, with each pillar’s weight
PillarTSLQTSLS
Cost30% weightB61A97Higher
Mission25% weightA97HigherA87
Risk15% weightC54A75Higher
Tradability15% weightA90HigherC45
Holdings10% weightNot scoredNot scored
Durability5% weightA73A82Higher

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. TSLQ 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 TSLQ 10th 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 8AMSFDDirexion Daily MSFT Bear 1X ETFScore 77
  7. Rank 10ATSLQTradr 2X Short TSLA Daily ETFScore 75
  8. Rank 11ANVDDDirexion Daily NVDA Bear 1X ETFScore 73

Our read on each fund

ETF.net Research

TSLQATradr 2X Short TSLA Daily ETF

TSLSADirexion Daily TSLA Bear 1X ETF

In short

TSLQ A 2022-vintage Tesla bear. TSLQ holds swaps built to move twice the inverse of Tesla's daily change, then resets the clock each session. Fee: 1.15% net of a waiver through July 31, 2027.

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

TSLQ The fund seeks daily investment results equal to two times the inverse performance of Tesla's common stock, 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

  • TSLQ One job, stated plainly: swap exposure sized to deliver two times the inverse of Tesla's move for a single day, before fees, then reset.tradretfs.com
  • 1.15% net of a waiver through July 31, 2027 (1.21% gross), below the median fee among single-stock bear funds.
  • Listed in July 2022, early for this corner of the market, and among the more actively traded names in its group.
  • Has hewed closely to its stated daily objective, one of the stronger implementations among single-stock bear funds.
  • 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

  • TSLQ Daily reset: over multiple days results depend on Tesla's path, not just its direction, and can drift well away from twice the inverse.tradretfs.com
  • Cheaper shorts exist: TSDD runs 0.95% net of a waiver through December 31, 2026, and the 1x bear TSLS charges 0.95%.
  • Everything rides on one stock: when Tesla climbs, the 2x inverse exposure magnifies the hit.
  • 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 TSLQ profile⁠

Full TSLS profile⁠

TSLQ 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.

TSLQ vs TSLS Cost

Overpaying TSLQ vs TSLS

$3,208

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

  • TSLQ 1.15%

    $21,077

  • TSLS 0.95%

    $17,869

$10,000
30 years

Cost over time

  • TSLQ 1.15%
  • 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$25K051015202530TSLQ $21,077TSLS $17,869

Year by year

YearTSLQTSLSOverpaying
10$2,015$1,678$337
20$7,521$6,322$1,199
30$21,077$17,869$3,208

Expense ratio

  • 1.15%TSLQ
  • 0.95%TSLS, cheaper
  • Middle half of Single-Stock Inverse funds
  • Median 1.05%

TSLS 2nd cheapest of 43 funds

TSLQ 23rd cheapest of 43 funds

TSLQ vs TSLS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
TSLQ 12.98%, better
TSLS 3.11%
Payout (12M)
TSLQ $1.92
TSLS $1.57
Last payment
TSLQ $1.92
TSLS $0.40
Ex-dividend
TSLQ Dec 22, 2025
TSLS Sep 22, 2026
Paid on
TSLQ Dec 26, 2025
TSLS Sep 29, 2026
Frequency
TSLQ Annual
TSLS Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

TSLQAnnual · 1 paymentAll TSLQ payments⁠
One bar per payment. 1 payment from 2022 to 2026 YTD. Dec 22, 2025 $1.92. 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

TSLQ vs TSLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TSLQ 92.7%TSLS 51.7%, better
Return per unit of riskSharpe ratio, 3 years
TSLQ −0.88TSLS −0.76, better
Worst fallMax drawdown, 5 years
TSLQ −99.0%since Jul 2022TSLS −90.7%since Aug 2022
Market sensitivityBeta, 5 years
TSLQ −1.96TSLS −1.41

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