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

Over the window to Sep 30, 2026, TSLR finished 4.1 points from what its multiple implies and TSLZ finished 15.5 points from its own, so TSLR came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are TSLR and TSLZ levered on the same thing?

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

Which one decays faster, TSLR or TSLZ?

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

Can I hold TSLR 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, TSLR or TSLZ?

TSLR charges 0.95% a year and TSLZ charges 1.05%, so TSLR is cheaper. Fees come from each fund's prospectus.

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TSLR vs TSLZ: which held to its multiple?

Over three months against its own daily promise, TSLR finished 1.7 points short and TSLZ 0.3 points over. GraniteShares 2x Long TSLA Daily ETF and T-REX 2X INVERSE TESLA DAILY TARGET ETF.

−37.3%

TSLR returned, 3 months

+17.6%

TSLZ returned, 3 months

−4.1 pts

TSLR from its stated multiple

−15.5 pts

TSLZ from its stated multiple

TSLR · 3 months to Sep 30, 20264.1 pts short of its stated multiple

TSLR returned −37.3% 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 · TSLR scores higherDid it keep up with its own daily multiple, compounded day by day?

TSLR among the 470 leveraged ETFs, long, over three months

TSLR 79.6

0.1, the lowest in this set99.9, the highest

TSLZ among the 125 inverse ETFs over three months

TSLZ 22

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

A percentile among the 470 leveraged ETFs, long, over three months. TSLZ is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. 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	TSLR	TSLZ	TSLR	TSLZ	TSLR	TSLZ
1 month	−9.2%	+3.6%	−7.1%	+7.1%	−2.0 pts	−3.6 pts
3 months	−37.3%	+17.6%	−33.1%	+33.1%	−4.1 pts	−15.5 pts
6 months	−28.0%	−18.7%	−13.9%	+13.9%	−14.2 pts	−32.6 pts
1 year	−54.0%	−14.2%	−40.4%	+40.4%	−13.6 pts	−54.6 pts
3 years	−43.7%	not published	+83.6%	not published	−127.3 pts	not published
Since launch TSLR Aug 2023 · TSLZ Oct 2023	−38.4%	−98.0%	+104.3%	−122.4%	−142.7 pts	+24.4 pts

TSLR 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

TSLR

GraniteShares 2x Long TSLA Daily ETF · Aims to return twice 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 GraniteShares T-REX

Sets out to return +2x -2x

Underlying asset TSLA TSLA

Segment company company

Fund returned, 3 months or since launch −37.3% +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 −4.1 pts −15.5 pts

Fund returned, 1 year or since launch −54.0% −14.2%

Difference from stated, over that window −13.6 pts −54.6 pts

Underlying volatility 52% 52%

Difference over the days both have traded −4.1 pts −15.5 pts

Expense ratio 0.95% 1.05%

Launched Aug 22, 2023 Oct 19, 2023

Net assets $72m $30m

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

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. 2.4 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. TSLR 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. 15.8 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. TSLZ aims to return -2 times TSLA's move each day, then resets. 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.

Questions people ask

Which came closer to its stated multiple, TSLR or TSLZ?: Over the window to Sep 30, 2026, TSLR finished 4.1 points from what its multiple implies and TSLZ finished 15.5 points from its own, so TSLR came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are TSLR and TSLZ levered on the same thing?: Yes. Both are levered on Tesla, TSLR at +2 times and TSLZ at -2 times the daily move.
Which one decays faster, TSLR or TSLZ?: Decay follows how much the underlying moves about. Over this window TSLR’s moved at 52% annualized and TSLZ’s at 52%, so TSLR has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold TSLR 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, TSLR or TSLZ?: TSLR charges 0.95% a year and TSLZ charges 1.05%, so TSLR is cheaper. Fees come from each fund's prospectus.

Other comparisons

TSLR vs TSLT TSLR vs TSLG TSLR vs TSLL TSLR vs TSLS TSLZ vs TSLG TSLZ vs TSLL TSLZ vs TESC TSLZ vs TSDD

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

Where these figures came from

TSLR filings on SEC EDGAR ↗TSLR prospectus with the expense ratio (SEC) ↗GraniteShares page for TSLR ↗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, TSLR against TSLZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/tslr-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.