TSLI vs TSLS: which held to its multiple?
Over three months against its own daily promise, TSLI finished 2.5 points short and TSLS 1.9 points over. ProShares Ultra TSLA and Direxion Daily TSLA Bear 1X ETF.
Both cost 0.95% a year; their one-year returns differ by 45.6 points; TSLS is 13.3 times larger.
| TSLI | TSLS | |
|---|---|---|
| Expense ratio | 0.95% | 0.95% |
| Net assets, TSLI as of Oct 9, 2026 and TSLS as of Oct 8, 2026 | $3m | $47m |
| Total return, 1 year | −45.4% | +0.2% |
| What it tracks | TSLA | TSLA |
| Holdings in common | not published | |
| What its daily multiple gave, 3 months | −17.6% | +0.4% |
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.
TSLS returned +2.4% while −1 times TSLA's move would have been +6.2%. Figures from Jul 10, 2026 to Oct 9, 2026.
TSLS returned +2.4% while −1 times TSLA's move would have been +6.2%. Figures from Jul 10, 2026 to Oct 9, 2026.
TSLI among the 517 leveraged ETFs, long, over three months
TSLS among the 128 inverse ETFs over three months
A percentile among the 517 leveraged ETFs, long, over three months. TSLS is a percentile among the 128 inverse ETFs over three months, a different set, so the two marks are not on one scale. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | TSLI | TSLS | TSLI | TSLS | TSLI | TSLS |
| 1 month | +6.1% | −4.0% | +8.1% | −4.0% | −2.0 pts | +0.1 pts |
| 3 months | −20.1% | +2.4% | −12.3% | +6.2% | −7.8 pts | −3.8 pts |
| 6 months | −0.8% | −16.2% | +19.3% | −9.7% | −20.2 pts | −6.5 pts |
| 1 year | −45.4% | +0.2% | −24.3% | +12.1% | −21.1 pts | −11.9 pts |
| 3 years | not published | −68.3% | not published | −45.2% | not published | −23.1 pts |
| Since launch TSLI Sep 2025 · TSLS Aug 2022 | −17.7% | −75.4% | +20.1% | −35.1% | −37.8 pts | −40.4 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.
TSLS in plain words
Three months to Oct 9, 2026: TSLS returned +2.4% where its own daily promise gave +0.4%, 1.9 points over. Read the multiple against the whole window instead and −1 times TSLA's −6.2% implies +6.2%, which makes TSLS look 3.8 points short. That 3.8 is two pieces: daily compounding, −5.7 points, which happens to any −1 times fund over the same path, and the fund itself, +1.9 points against its own daily promise. 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, TSLI or TSLS?
- Over the window to Oct 9, 2026, TSLI finished 7.8 points from what its multiple implies and TSLS finished 3.8 points from its own, so TSLS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are TSLI and TSLS levered on the same thing?
- Yes. Both are levered on Tesla, TSLI at +2 times and TSLS at -1 times the daily move.
- Which one decays faster, TSLI or TSLS?
- Decay follows how much the underlying moves about. Over this window TSLI’s moved at 48% annualized and TSLS’s at 48%, so TSLI has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold TSLI 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; 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 TSLS, data as of Oct 9, 2026. https://etfiq.com/compare/leverage/tsli-vs-tsls
ETFIQ. (Oct 9, 2026). TSLI against TSLS. Retrieved from https://etfiq.com/compare/leverage/tsli-vs-tsls
[TSLI against TSLS (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/leverage/tsli-vs-tsls)
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