TSL +1.25x GraniteShares 1.25x Long TSLA Daily ETF
TSL
ETF +1.25x BULL mildGraniteShares 1.25x Long TSLA Daily ETF
Realized return vs theoretical +1.25x TSLA
Other leveraged products tracking TSLA
| Symbol | Factor | Direction | Issuer | Name | Implied AUM | 30d Vol | Options |
|---|---|---|---|---|---|---|---|
| TSLL | +2x | BULL | Direxion | Direxion Shares ETF Trust Direxion Daily TSLA Bull 2X ETF | $3.53B | 57,656,893 | |
| TSLT | +2x | BULL | T-Rex | T-REX 2X Long Tesla Daily Target ETF | $187.1M | 2,614,362 | |
| TSLR | +2x | BULL | GraniteShares | GraniteShares ETF Trust GraniteShares 2x Long TSLA Daily ETF | $75.1M | 1,592,388 | |
| TSLG | +2x | BULL | Leverage Shares | Leverage Shares 2X Long TSLA Daily ETF | $39.7M | 35,672,925 | |
| TSLQ | -2x | BEAR | Tradr | Investment Managers Series Trust II Tradr 2X Short TSLA Daily ETF | $122.8M | 7,795,890 | |
| TSLZ | -2x | BEAR | T-Rex | T-Rex 2X Inverse Tesla Daily Target ETF | $35.8M | 3,058,356 | |
| TSDD | -2x | BEAR | GraniteShares | GraniteShares ETF Trust GraniteShares 2x Short TSLA Daily ETF | $30.5M | 26,090,323 |
How TSL works
TSL targets +1.25x the daily return of TSLA — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.
Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +1.25x product on an underlying with 25% annualized vol, expected annual drag is around 1.0%. Add expense ratio and the realized number is typically worse.
- Short-term tactical: daily and intraday holds are where these products were designed to live.
- Premium selling: options on TSL carry very rich IV — see the quote page for IV rank and straddle pricing.
- Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.