# TSL (GraniteShares 1.25x Long TSLA Daily ETF)

GraniteShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: TSL returned −14.3% where its own daily promise gave −13.6%, 0.8 points short.

## Key facts

- TSL, what TSLA did: −10.1%, as of Sep 11, 2026.
- TSL, what +1.25 times a day gives: −13.6%, as of Sep 11, 2026.
- TSL, what the fund returned: −14.3%, as of Sep 11, 2026.
- TSL, the fund itself cost: −0.8 pts, as of Sep 11, 2026.
- TSL, net assets: $12m (source, as filed for Jun 30, 2026).
- TSL, expense ratio: 1.15% (485BPOS XBRL, Oct 24, 2025).

## TSL over each window to Sep 11, 2026

| Window | Fund | TSLA | +1.25x the move | Difference | TSLA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +13.9% | +11.6% | +14.5% | −0.6 pts | 50% |
| 3 months | −14.3% | −10.1% | −12.6% | −1.7 pts | 56% |
| 6 months | −11.5% | −6.6% | −8.2% | −3.3 pts | 51% |
| 1 year | −7.9% | −0.9% | −1.1% | −6.7 pts | 47% |
| 3 years | +9.3% | +36.6% | +45.8% | −36.5 pts | 58% |
| Since launch | −11.4% | +29.0% | +36.2% | −47.7 pts | 58% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +1.25 times the daily move of TSLA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.42 times, against +1.25 stated | ETFIQ |
| Underlying | TSLA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $12m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.15% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Aug 9, 2022 | ETFIQ |
| Underlying volatility over the window | 56% annualized | ETFIQ |

## Questions

### Did TSL return +1.25 times TSLA?

Over the window to Sep 11, 2026, TSLA moved −10.1% and TSL returned −14.3%. 1.25 times that move is −12.6%, so the fund came out 1.7 points short of it.

### Why does TSL not return +1.25 times over a year?

Because it resets daily. TSL aims at +1.25 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +1.25 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, TSL, data as of Sep 11, 2026. https://etfiq.com/funds/TSL
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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