TSLI vs TSLR: which held to its multiple?
Over the days both have traded, TSLI finished 7.8 points from its stated multiple and TSLR 7.2. ProShares Ultra TSLA and GraniteShares 2x Long TSLA Daily ETF.
Both cost 0.95% a year; their one-year returns differ by 1.5 points; TSLR is far larger, $77m against $3m.
| TSLI | TSLR | |
|---|---|---|
| Expense ratio | 0.95% | 0.95% |
| Net assets, TSLI as of Oct 9, 2026 and TSLR as of Oct 8, 2026 | $3m | $77m |
| Total return, 1 year | −45.4% | −43.9% |
| What it tracks | TSLA | TSLA |
| Holdings in common | not published | |
| What its daily multiple gave, 3 months | −17.6% | −17.6% |
| Against its daily multiple, 3 months | 2.5 points short | 2.0 points short |
TSLI returned −20.1% while 2 times TSLA's move would have been −12.3%. Figures from Jul 10, 2026 to Oct 9, 2026.
TSLI returned −20.1% while 2 times TSLA's move would have been −12.3%. Figures from Jul 10, 2026 to Oct 9, 2026.
TSLR returned −19.6% while 2 times TSLA's move would have been −12.3%. Figures from Jul 10, 2026 to Oct 9, 2026.
Figures from Jul 10, 2026 to Oct 9, 2026.
A percentile among the 517 leveraged ETFs, long, over three months. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | TSLI | TSLR | TSLI | TSLR | TSLI | TSLR |
| 1 month | +6.1% | +6.5% | +8.1% | +8.1% | −2.0 pts | −1.6 pts |
| 3 months | −20.1% | −19.6% | −12.3% | −12.3% | −7.8 pts | −7.3 pts |
| 6 months | −0.8% | +0.3% | +19.3% | +19.3% | −20.2 pts | −19.1 pts |
| 1 year | −45.4% | −43.9% | −24.3% | −24.3% | −21.1 pts | −19.6 pts |
| 3 years | not published | −40.2% | not published | +90.3% | not published | −130.6 pts |
| Since launch TSLI Sep 2025 · TSLR Aug 2023 | −17.7% | −28.6% | +20.1% | +128.2% | −37.8 pts | −156.9 pts |
Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
TSLI in plain words
Three months to Oct 9, 2026: TSLI returned −20.1% where its own daily promise gave −17.6%, 2.5 points short. Read the multiple against the whole window instead and 2 times TSLA's −6.2% implies −12.3%, which makes TSLI look 7.8 points short. That 7.8 is two pieces: daily compounding, −5.3 points, which happens to any 2 times fund over the same path, and the fund itself, −2.5 points against its own daily promise. TSLI 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 48% 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 Oct 9, 2026: TSLR returned −19.6% where its own daily promise gave −17.6%, 2.0 points short. Read the multiple against the whole window instead and 2 times TSLA's −6.2% implies −12.3%, which makes TSLR look 7.2 points short. That 7.2 is two pieces: daily compounding, −5.2 points, which happens to any 2 times fund over the same path, and the fund itself, −2.0 points against its own daily promise. TSLR aims to return +2 times TSLA's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, TSLI or TSLR?
- Over the window to Oct 9, 2026, TSLI finished 7.8 points from what its multiple implies and TSLR finished 7.2 points from its own, so TSLR came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are TSLI and TSLR levered on the same thing?
- Yes. Both are levered on Tesla, TSLI at +2 times and TSLR at +2 times the daily move.
- Which one decays faster, TSLI or TSLR?
- Decay follows how much the underlying moves about. Over this window TSLI’s moved at 48% annualized and TSLR’s at 48%, so TSLI has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold TSLI 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.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
It is a position in a set, not a rating, and neither end of it is a recommendation.
Every figure is an ETFIQ calculation with distributions reinvested.
ETFIQ, TSLI against TSLR, data as of Oct 9, 2026. https://etfiq.com/compare/leverage/tsli-vs-tslr
ETFIQ. (Oct 9, 2026). TSLI against TSLR. Retrieved from https://etfiq.com/compare/leverage/tsli-vs-tslr
[TSLI against TSLR (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/leverage/tsli-vs-tslr)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.