# TSLS (Direxion Daily TSLA Bear 1X ETF)

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

Three months to Sep 30, 2026: TSLS returned +14.0% where its own daily promise gave +11.9%, 2.1 points over.

## Key facts

- TSLS, what TSLA did: −16.6%, as of Sep 30, 2026.
- TSLS, what −1 times a day gives: +11.9%, as of Sep 30, 2026.
- TSLS, what the fund returned: +14.0%, as of Sep 30, 2026.
- TSLS, the fund itself added: +2.1 pts, as of Sep 30, 2026.
- TSLS, net assets: $59m (issuer page, as of Sep 30, 2026).
- TSLS, expense ratio: 0.95% (485BPOS XBRL, Feb 26, 2026).

## TSLS over each window to Sep 30, 2026

| Window | Fund | TSLA | -1x the move | Difference | TSLA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +2.8% | −3.6% | +3.6% | −0.7 pts | 40% |
| 3 months | +14.0% | −16.6% | +16.6% | −2.6 pts | 52% |
| 6 months | −1.3% | −6.9% | +6.9% | −8.3 pts | 50% |
| 1 year | +9.5% | −20.2% | +20.2% | −10.7 pts | 46% |
| 3 years | −67.6% | +41.8% | −41.8% | −25.8 pts | 58% |
| Since launch | −73.5% | +25.2% | −25.2% | −48.3 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 | -0.84 times, against -1 stated | ETFIQ |
| Underlying | TSLA | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $59m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Aug 9, 2022 | ETFIQ |
| Underlying volatility over the window | 52% annualized | ETFIQ |

## Questions

### Did TSLS return -1 times TSLA?

Over the window to Sep 30, 2026, TSLA moved −16.6% and TSLS returned +14.0%. −1 times that move is +16.6%, so the fund came out 2.6 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 30, 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