# TSL (GraniteShares 1.25x Long TSLA Daily ETF)

GraniteShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: TSL returned −21.9% where its own daily promise gave −21.2%, 0.7 points short.

## Key facts

- TSL, what TSLA did: −16.6%, as of Sep 30, 2026.
- TSL, what 1.25 times a day gives: −21.2%, as of Sep 30, 2026.
- TSL, what the fund returned: −21.9%, as of Sep 30, 2026.
- TSL, the fund itself cost: −0.7 pts, as of Sep 30, 2026.
- TSL, net assets: $11m (issuer page, as of Sep 30, 2026).
- TSL, expense ratio: 1.15% (485BPOS XBRL, Oct 24, 2025).

## TSL over each window to Sep 30, 2026

| Window | Fund | TSLA | +1.25x the move | Difference | TSLA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −5.0% | −3.6% | −4.5% | −0.5 pts | 40% |
| 3 months | −21.9% | −16.6% | −20.7% | −1.2 pts | 52% |
| 6 months | −11.9% | −6.9% | −8.7% | −3.2 pts | 50% |
| 1 year | −29.5% | −20.2% | −25.3% | −4.3 pts | 46% |
| 3 years | +14.7% | +41.8% | +52.3% | −37.6 pts | 58% |
| Since launch | −14.9% | +25.2% | +31.5% | −46.4 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 | +1.32 times, against +1.25 stated | ETFIQ |
| Underlying | TSLA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $11m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.15% | 485BPOS XBRL, Oct 24, 2025 |
| Launched | Aug 9, 2022 | ETFIQ |
| Underlying volatility over the window | 52% annualized | ETFIQ |

## Questions

### Did TSL return +1.25 times TSLA?

Over the window to Sep 30, 2026, TSLA moved −16.6% and TSL returned −21.9%. 1.25 times that move is −20.7%, so the fund came out 1.2 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 30, 2026. https://etfiq.com/funds/tsl
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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