ETFIQ
RankingsCompareHoldingsResearch
My portfolioWeekly note
A
vs
B
Share on XDownload as PDFOpen live

TSLG vs TSLR: which held to its multiple?

Over the days both have traded, TSLG finished 4.2 points from its stated multiple and TSLR 4.1. Leverage Shares 2X Long TSLA Daily ETF and GraniteShares 2x Long TSLA Daily ETF.

−37.4%
TSLG returned, 3 months
−37.3%
TSLR returned, 3 months
−4.2 pts
TSLG from its stated multiple
−4.1 pts
TSLR from its stated multiple
TSLG · 3 months to Sep 30, 20264.2 pts short of its stated multiple
4.2 pts short of its stated multipleTSLG returned −37.4% while 2 times TSLA's move would have been −33.1%TSLA −16.6% ×2 implies−33.1%TSLG returned−37.4%4.2 pts short of its stated multipleTSLG returned −37.4% while 2 times TSLA's move would have been −33.1%TSLA −16.6% ×2 implies−33.1%TSLG returned−37.4%

TSLG returned −37.4% while 2 times TSLA's move would have been −33.1%

TSLR · 3 months to Sep 30, 20264.1 pts short of its stated multiple
4.1 pts short of its stated multipleTSLR returned −37.3% while 2 times TSLA's move would have been −33.1%TSLA −16.6% ×2 implies−33.1%TSLR returned−37.3%4.1 pts short of its stated multipleTSLR returned −37.3% while 2 times TSLA's move would have been −33.1%TSLA −16.6% ×2 implies−33.1%TSLR returned−37.3%

TSLR returned −37.3% while 2 times TSLA's move would have been −33.1%

ETFIQ Decay Resistance Score · TSLR 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
WindowTSLGTSLRTSLGTSLRTSLGTSLR
1 month−9.3%−9.2%−7.1%−7.1%−2.1 pts−2.0 pts
3 months−37.4%−37.3%−33.1%−33.1%−4.2 pts−4.1 pts
6 months−28.4%−28.0%−13.9%−13.9%−14.5 pts−14.2 pts
1 year−54.6%−54.0%−40.4%−40.4%−14.2 pts−13.6 pts
3 yearsnot published−43.7%not published+83.6%not published−127.3 pts
Since launch
TSLG Dec 2024 · TSLR Aug 2023
−70.5%−38.4%−37.3%+104.3%−33.1 pts−142.7 pts

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

On the same fields

TSLG
Leverage Shares 2X Long TSLA Daily ETF · Aims to return twice the daily move of Tesla (TSLA)
TSLR
GraniteShares 2x Long TSLA Daily ETF · Aims to return twice the daily move of Tesla (TSLA)
Issuer Leverage Shares GraniteShares
Sets out to return +2x +2x
Underlying asset TSLA TSLA
Segment company company
Fund returned, 3 months or since launch −37.4% −37.3%
Underlying returned, over that window −16.6% −16.6%
What the stated multiple implies, over that window −33.1% −33.1%
Difference from stated, over that window −4.2 pts −4.1 pts
Fund returned, 1 year or since launch −54.6% −54.0%
Difference from stated, over that window −14.2 pts −13.6 pts
Underlying volatility 52% 52%
Difference over the days both have traded −4.2 pts −4.1 pts
Expense ratio 0.80% 0.95%
Launched Dec 13, 2024 Aug 22, 2023
Net assets $40m $72m

TSLG and TSLR on the same fields, as of Sep 30, 2026. Source: ETFIQ.

TSLG in plain words

Three months to Sep 30, 2026: TSLG returned −37.4% where its own daily promise gave −35.6%, 1.8 points short. Read the multiple against the whole window instead and 2 times TSLA's −16.6% implies −33.1%, which makes TSLG look 4.2 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. TSLG 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.

TSLR in plain words

Three months to Sep 30, 2026: TSLR returned −37.3% where its own daily promise gave −35.6%, 1.7 points short. Read the multiple against the whole window instead and 2 times TSLA's −16.6% implies −33.1%, which makes TSLR look 4.1 points short. TSLR aims to return +2 times TSLA's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, TSLG or TSLR?
Over the window to Sep 30, 2026, TSLG finished 4.2 points from what its multiple implies and TSLR finished 4.1 points from its own, so TSLR came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are TSLG and TSLR levered on the same thing?
Yes. Both are levered on Tesla, TSLG at +2 times and TSLR at +2 times the daily move.
Which one decays faster, TSLG or TSLR?
Decay follows how much the underlying moves about. Over this window TSLG’s moved at 52% annualized and TSLR’s at 52%, so TSLG has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold TSLG or TSLR 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, TSLG or TSLR?
TSLG charges 0.80% a year and TSLR charges 0.95%, so TSLG is cheaper. Fees come from each fund's prospectus.
Other comparisons
TSLG vs TSLLTSLG vs TSLQTSLG vs TSLTTSLG vs TSLZTSLR vs TSLSTSLR vs TSLTTSLR vs TSLZTSLR vs TESC
TSLG on its own →TSLR on its own →How every figure is computed →Standards and sources →
Where these figures came from
TSLG filings on SEC EDGAR ↗TSLG prospectus with the expense ratio (SEC) ↗Leverage Shares website ↗TSLR filings on SEC EDGAR ↗TSLR prospectus with the expense ratio (SEC) ↗GraniteShares page for TSLR ↗

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, TSLG against TSLR, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/tslg-vs-tslr

Open data

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