TSDD vs TSLS: which held to its multiple?
Over three months against its own daily promise, TSDD finished 1.5 points over and TSLS 2.1 points over. GraniteShares 2x Short TSLA Daily ETF and Direxion Daily TSLA Bear 1X ETF.
TSDD returned +18.9% while −2 times TSLA's move would have been +33.1%
TSLS returned +14.0% while −1 times TSLA's move would have been +16.6%
A percentile among the 125 inverse ETFs 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 return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | TSDD | TSLS | TSDD | TSLS | TSDD | TSLS |
| 1 month | +3.6% | +2.8% | +7.1% | +3.6% | −3.6 pts | −0.7 pts |
| 3 months | +18.9% | +14.0% | +33.1% | +16.6% | −14.3 pts | −2.6 pts |
| 6 months | −17.9% | −1.3% | +13.9% | +6.9% | −31.8 pts | −8.3 pts |
| 1 year | −11.9% | +9.5% | +40.4% | +20.2% | −52.3 pts | −10.7 pts |
| 3 years | −97.3% | −67.6% | −83.6% | −41.8% | −13.7 pts | −25.8 pts |
| Since launch TSDD Aug 2023 · TSLS Aug 2022 | −97.7% | −73.5% | −104.3% | −25.2% | +6.6 pts | −48.3 pts |
TSDD and TSLS over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
TSDD and TSLS on the same fields, as of Sep 30, 2026. Source: ETFIQ.
TSDD in plain words
Three months to Sep 30, 2026: TSDD returned +18.9% where its own daily promise gave +17.3%, 1.5 points over. Read the multiple against the whole window instead and −2 times TSLA's −16.6% implies +33.1%, which makes TSDD look 14.3 points short. 15.8 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. TSDD 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.
TSLS in plain words
Three months to Sep 30, 2026: TSLS returned +14.0% where its own daily promise gave +11.9%, 2.1 points over. Read the multiple against the whole window instead and −1 times TSLA's −16.6% implies +16.6%, which makes TSLS look 2.6 points short. 4.7 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. TSLS aims to return -1 times TSLA's move each day, then resets. Over longer, the daily results compound, so the total is not -1 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, TSDD or TSLS?
- Over the window to Sep 30, 2026, TSDD finished 14.3 points from what its multiple implies and TSLS finished 2.6 points from its own, so TSLS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are TSDD and TSLS levered on the same thing?
- Yes. Both are levered on Tesla, TSDD at -2 times and TSLS at -1 times the daily move.
- Which one decays faster, TSDD or TSLS?
- Decay follows how much the underlying moves about. Over this window TSDD’s moved at 52% annualized and TSLS’s at 52%, so TSDD has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold TSDD or TSLS 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.
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.
ETFIQ, TSDD against TSLS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/tsdd-vs-tsls
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, TSDD against TSLS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/tsdd-vs-tsls Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, TSDD against TSLS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/tsdd-vs-tsls
- APA
- ETFIQ. (Sep 30, 2026). TSDD against TSLS. Retrieved from https://etfiq.com/compare/leverage/tsdd-vs-tsls
- Markdown
- [TSDD against TSLS (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/tsdd-vs-tsls)