Data as of .
TSL vs TSLL: which held to its multiple?
Over three months against its own daily promise, TSL finished 0.8 points short and TSLL 2.2 points short.
ETFIQ Decay Resistance Score: TSL scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| TSL | TSLL | TSL | TSLL | TSL | TSLL | |
| 1 month | +13.9% | +20.6% | +14.5% | +23.2% | −0.6 pts | −2.5 pts |
| 3 months | −14.3% | −27.9% | −12.6% | −20.2% | −1.7 pts | −7.7 pts |
| 6 months | −11.5% | −28.3% | −8.2% | −13.2% | −3.3 pts | −15.2 pts |
| 1 year | −7.9% | −30.8% | −1.1% | −1.8% | −6.7 pts | −29.0 pts |
| 3 years | +9.3% | −35.3% | +45.8% | +73.2% | −36.5 pts | −108.5 pts |
| Since launch | −11.4% | −52.7% | +36.2% | +58.0% | −47.7 pts | −110.7 pts |
| TSL GraniteShares 1.25x Long TSLA Daily ETF Aims to return 1.25 times the daily move of Tesla (TSLA) | TSLL Direxion Daily TSLA Bull 2X ETF Aims to return twice the daily move of Tesla (TSLA) | |
|---|---|---|
| Issuer | GraniteShares | Direxion |
| Sets out to return | +1.25x | +2x |
| On | TSLA | TSLA |
| Segment | company | company |
| Fund returned, 3 months | −14.3% | −27.9% |
| Underlying returned, 3 months | −10.1% | −10.1% |
| What the stated multiple implies, 3 months | −12.6% | −20.2% |
| Difference from stated, 3 months | −1.7 pts | −7.7 pts |
| Fund returned, 1 year or since launch | −7.9% | −30.8% |
| Difference from stated, over that window | −6.7 pts | −29.0 pts |
| Underlying volatility | 56% | 56% |
| Difference over the days both have traded | no shared window | −2.5 pts |
| Expense ratio | 1.15% | 0.83% |
| Launched | Aug 9, 2022 | Aug 9, 2022 |
TSL in plain words
Three months to Sep 11, 2026: TSL returned −14.3% where its own daily promise gave −13.6%, 0.8 points short. Read the multiple against the whole window instead and +1.25 times TSLA's −10.1% implies −12.6%, which makes TSL look 1.7 points short. 1.0 of that is daily compounding, which happens to any +1.25 times fund over the same path, and the rest is the fund. TSL aims to return +1.25 times TSLA's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +1.25 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. TSLA moved at 56% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
TSLL in plain words
Three months to Sep 11, 2026: TSLL returned −27.9% where its own daily promise gave −25.7%, 2.2 points short. Read the multiple against the whole window instead and +2 times TSLA's −10.1% implies −20.2%, which makes TSLL look 7.7 points short. 5.6 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. TSLL aims to return +2 times TSLA's move each day, then resets. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, TSL or TSLL?
- Over the window to Sep 11, 2026, TSL finished 1.7 points from what its multiple implies and TSLL finished 7.7 points from its own, so TSL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are TSL and TSLL levered on the same thing?
- Yes. Both are levered on Tesla, TSL at +1.25 times and TSLL at +2 times the daily move.
- Which one decays faster, TSL or TSLL?
- Decay follows how much the underlying moves about. Over this window TSL’s moved at 56% annualized and TSLL’s at 56%, so TSL has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold TSL or TSLL for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, TSL or TSLL?
- TSL charges 1.15% a year and TSLL charges 0.83%, so TSLL is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, TSL against TSLL, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/TSL-TSLL Free to use with attribution; the underlying files are at Open data.