# TSLS (Direxion Daily TSLA Bear 1X ETF)

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

Three months to Sep 11, 2026: TSLS returned +5.0% where its own daily promise gave +2.9%, 2.1 points over.

## Key facts

- TSLS, what TSLA did: −10.1%, as of Sep 11, 2026.
- TSLS, what −1 times a day gives: +2.9%, as of Sep 11, 2026.
- TSLS, what the fund returned: +5.0%, as of Sep 11, 2026.
- TSLS, the fund itself added: +2.1 pts, as of Sep 11, 2026.
- TSLS, net assets: $76m (source, as filed for Apr 30, 2026).
- TSLS, expense ratio: not read by ETFIQ, as of Sep 11, 2026.

## TSLS over each window to Sep 11, 2026

| Window | Fund | TSLA | -1x the move | Difference | TSLA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −11.6% | +11.6% | −11.6% | −0.1 pts | 50% |
| 3 months | +5.0% | −10.1% | +10.1% | −5.1 pts | 56% |
| 6 months | −2.1% | −6.6% | +6.6% | −8.7 pts | 51% |
| 1 year | −12.6% | −0.9% | +0.9% | −13.5 pts | 47% |
| 3 years | −66.4% | +36.6% | −36.6% | −29.8 pts | 58% |
| Since launch | −74.2% | +29.0% | −29.0% | −45.3 pts | 58% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of TSLA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -0.5 times, against -1 stated | ETFIQ |
| Underlying | TSLA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $76m | source, as filed for Apr 30, 2026 |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Aug 9, 2022 | ETFIQ |
| Underlying volatility over the window | 56% annualized | ETFIQ |

## Questions

### Did TSLS return -1 times TSLA?

Over the window to Sep 11, 2026, TSLA moved −10.1% and TSLS returned +5.0%. 1 times that move is +10.1%, so the fund came out 5.1 points short of it.

### Why does TSLS not return -1 times over a year?

Because it resets daily. TSLS aims at -1 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 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, TSLS, data as of Sep 11, 2026. https://etfiq.com/funds/TSLS
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/TSLS  ·  JSON: https://etfiq.com/funds/TSLS.json