Which came closer to its stated multiple, TSLQ or TSLZ?

Over the window to Sep 30, 2026, TSLQ finished 13.5 points from what its multiple implies and TSLZ finished 15.5 points from its own, so TSLQ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are TSLQ and TSLZ levered on the same thing?

Yes. Both are levered on Tesla, TSLQ at -2 times and TSLZ at -2 times the daily move.

Which one decays faster, TSLQ or TSLZ?

Decay follows how much the underlying moves about. Over this window TSLQ’s moved at 52% annualized and TSLZ’s at 52%, so TSLQ has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold TSLQ or TSLZ 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, TSLQ or TSLZ?

TSLQ charges 1.15% a year and TSLZ charges 1.05%, so TSLZ is cheaper. Fees come from each fund's prospectus.

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TSLQ vs TSLZ: which held to its multiple?

Over the days both have traded, TSLQ finished 13.5 points from its stated multiple and TSLZ 15.5. Tradr 2X Short TSLA Daily ETF and T-REX 2X INVERSE TESLA DAILY TARGET ETF.

+19.7%

TSLQ returned, 3 months

+17.6%

TSLZ returned, 3 months

−13.5 pts

TSLQ from its stated multiple

−15.5 pts

TSLZ from its stated multiple

TSLQ · 3 months to Sep 30, 202613.5 pts short of its stated multiple

TSLQ returned +19.7% while −2 times TSLA's move would have been +33.1%

TSLZ · 3 months to Sep 30, 202615.5 pts short of its stated multiple

TSLZ returned +17.6% while −2 times TSLA's move would have been +33.1%

ETFIQ Decay Resistance Score · TSLQ scores higherDid it keep up with its own daily multiple, compounded day by day?

TSLQ 70.8

TSLZ 22

0.4, the lowest in this set99.6, the highest

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	TSLQ	TSLZ	TSLQ	TSLZ	TSLQ	TSLZ
1 month	+4.0%	+3.6%	+7.1%	+7.1%	−3.2 pts	−3.6 pts
3 months	+19.7%	+17.6%	+33.1%	+33.1%	−13.5 pts	−15.5 pts
6 months	−16.8%	−18.7%	+13.9%	+13.9%	−30.7 pts	−32.6 pts
1 year	−9.7%	−14.2%	+40.4%	+40.4%	−50.1 pts	−54.6 pts
3 years	−95.5%	not published	−83.6%	not published	−11.9 pts	not published
Since launch TSLQ Jul 2022 · TSLZ Oct 2023	−97.0%	−98.0%	−97.8%	−122.4%	+0.8 pts	+24.4 pts

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

On the same fields

TSLQ

Tradr 2X Short TSLA Daily ETF · Aims to return twice the opposite of the daily move of Tesla (TSLA)

TSLZ

T-REX 2X INVERSE TESLA DAILY TARGET ETF · Aims to return twice the opposite of the daily move of Tesla (TSLA)

Issuer Tradr T-REX

Sets out to return -2x -2x

Underlying asset TSLA TSLA

Segment company company

Fund returned, 3 months or since launch +19.7% +17.6%

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 −13.5 pts −15.5 pts

Fund returned, 1 year or since launch −9.7% −14.2%

Difference from stated, over that window −50.1 pts −54.6 pts

Underlying volatility 52% 52%

Difference over the days both have traded −13.5 pts −15.5 pts

Expense ratio 1.15% 1.05%

Launched Jul 14, 2022 Oct 19, 2023

Net assets $90m $30m

TSLQ and TSLZ on the same fields, as of Sep 30, 2026. Source: ETFIQ.

TSLQ in plain words

Three months to Sep 30, 2026: TSLQ returned +19.7% where its own daily promise gave +17.3%, 2.4 points over. Read the multiple against the whole window instead and −2 times TSLA's −16.6% implies +33.1%, which makes TSLQ look 13.5 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. TSLQ 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.

TSLZ in plain words

Three months to Sep 30, 2026: TSLZ returned +17.6% where its own daily promise gave +17.3%, 0.3 points over. Read the multiple against the whole window instead and −2 times TSLA's −16.6% implies +33.1%, which makes TSLZ look 15.5 points short. TSLZ aims to return -2 times TSLA's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, TSLQ or TSLZ?: Over the window to Sep 30, 2026, TSLQ finished 13.5 points from what its multiple implies and TSLZ finished 15.5 points from its own, so TSLQ came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are TSLQ and TSLZ levered on the same thing?: Yes. Both are levered on Tesla, TSLQ at -2 times and TSLZ at -2 times the daily move.
Which one decays faster, TSLQ or TSLZ?: Decay follows how much the underlying moves about. Over this window TSLQ’s moved at 52% annualized and TSLZ’s at 52%, so TSLQ has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold TSLQ or TSLZ 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, TSLQ or TSLZ?: TSLQ charges 1.15% a year and TSLZ charges 1.05%, so TSLZ is cheaper. Fees come from each fund's prospectus.

Other comparisons

TSLQ vs TSLS TSLQ vs TSLT TSLQ vs TESC TSLQ vs TSDD TSLZ vs TESC TSLZ vs TSDD TSLZ vs TSL TSLZ vs TSLG

TSLQ on its own →TSLZ on its own →How every figure is computed →Standards and sources →

Where these figures came from

TSLQ filings on SEC EDGAR ↗TSLQ prospectus with the expense ratio (SEC) ↗Tradr website ↗TSLZ filings on SEC EDGAR ↗TSLZ prospectus with the expense ratio (SEC) ↗T-REX page for TSLZ ↗

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, TSLQ against TSLZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/tslq-vs-tslz

Open data

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