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TESC vs TSL: which held to its multiple?

Over three months against its own daily promise, TESC finished 2.0 points short and TSL 0.7 points short. Corgi TSLA 2x Daily ETF and GraniteShares 1.25x Long TSLA Daily ETF.

−37.5%
TESC returned, 3 months
−21.9%
TSL returned, 3 months
−4.4 pts
TESC from its stated multiple
−1.2 pts
TSL from its stated multiple
TESC · 3 months to Sep 30, 20264.4 pts short of its stated multiple
4.4 pts short of its stated multipleTESC returned −37.5% while 2 times TSLA's move would have been −33.1%TSLA −16.6% ×2 implies−33.1%TESC returned−37.5%4.4 pts short of its stated multipleTESC returned −37.5% while 2 times TSLA's move would have been −33.1%TSLA −16.6% ×2 implies−33.1%TESC returned−37.5%

TESC returned −37.5% while 2 times TSLA's move would have been −33.1%

TSL · 3 months to Sep 30, 20261.2 pts short of its stated multiple
1.2 pts short of its stated multipleTSL returned −21.9% while 1.25 times TSLA's move would have been −20.7%TSLA −16.6% ×1.25 implies−20.7%TSL returned−21.9%1.2 pts short of its stated multipleTSL returned −21.9% while 1.25 times TSLA's move would have been −20.7%TSLA −16.6% ×1.25 implies−20.7%TSL returned−21.9%

TSL returned −21.9% while 1.25 times TSLA's move would have been −20.7%

ETFIQ Decay Resistance Score · TSL scores higherDid it keep up with its own daily multiple, compounded day by day?
0.1, the lowest in this set99.9, the highest

A percentile among the 470 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

Total returnMultiple would giveDifference
WindowTESCTSLTESCTSLTESCTSL
1 month−9.3%−5.0%−7.1%−4.5%−2.2 pts−0.5 pts
3 months−37.5%−21.9%−33.1%−20.7%−4.4 pts−1.2 pts
6 monthsnot published−11.9%not published−8.7%not published−3.2 pts
1 yearnot published−29.5%not published−25.3%not published−4.3 pts
3 yearsnot published+14.7%not published+52.3%not published−37.6 pts
Since launch
TESC Jun 2026 · TSL Aug 2022
−36.2%−14.9%−31.3%+31.5%−4.9 pts−46.4 pts

TESC and TSL over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

TESC
Corgi TSLA 2x Daily ETF · Aims to return twice the daily move of Tesla (TSLA)
TSL
GraniteShares 1.25x Long TSLA Daily ETF · Aims to return 1.25 times the daily move of Tesla (TSLA)
Issuer Corgi GraniteShares
Sets out to return +2x +1.25x
Underlying asset TSLA TSLA
Segment company company
Fund returned, 3 months or since launch −37.5% −21.9%
Underlying returned, over that window −16.6% −16.6%
What the stated multiple implies, over that window −33.1% −20.7%
Difference from stated, over that window −4.4 pts −1.2 pts
Fund returned, 1 year or since launch −36.2% −29.5%
Difference from stated, over that window −4.9 pts −4.3 pts
Underlying volatility 52% 52%
Difference over the days both have traded −4.4 pts no shared window
Expense ratio 0.45% 1.15%
Launched Jun 30, 2026 Aug 9, 2022
Net assets $299,606 $11m

TESC and TSL on the same fields, as of Sep 30, 2026. Source: ETFIQ.

TESC in plain words

Three months to Sep 30, 2026: TESC returned −37.5% where its own daily promise gave −35.6%, 2.0 points short. Read the multiple against the whole window instead and 2 times TSLA's −16.6% implies −33.1%, which makes TESC look 4.4 points short. 2.4 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. TESC aims to return +2 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 +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. TSLA moved at 52% 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.

TSL in plain words

Three months to Sep 30, 2026: TSL returned −21.9% where its own daily promise gave −21.2%, 0.7 points short. Read the multiple against the whole window instead and 1.25 times TSLA's −16.6% implies −20.7%, which makes TSL look 1.2 points short. 0.5 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 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.

Questions people ask

Which came closer to its stated multiple, TESC or TSL?
Over the window to Sep 30, 2026, TESC finished 4.4 points from what its multiple implies and TSL finished 1.2 points from its own, so TSL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are TESC and TSL levered on the same thing?
Yes. Both are levered on Tesla, TESC at +2 times and TSL at +1.25 times the daily move.
Which one decays faster, TESC or TSL?
Decay follows how much the underlying moves about. Over this window TESC’s moved at 52% annualized and TSL’s at 52%, so TESC has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold TESC or TSL 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, TESC or TSL?
TESC charges 0.45% a year and TSL charges 1.15%, so TESC is cheaper. Fees come from each fund's prospectus.
Other comparisons
TESC vs TSDDTESC vs TSLGTESC vs TSLLTESC vs TSLQTSL vs TSLGTSL vs TSLLTSL vs TSLQTSL vs TSLR
TESC on its own →TSL on its own →How every figure is computed →Standards and sources →
Where these figures came from
TESC filings on SEC EDGAR ↗TESC prospectus with the expense ratio (SEC) ↗Corgi website ↗TSL filings on SEC EDGAR ↗TSL prospectus with the expense ratio (SEC) ↗GraniteShares page for TSL ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, TESC against TSL, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/tesc-vs-tsl

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.