TSLL +2x Direxion Shares ETF Trust Direxion Daily TSLA Bull 2X ETF
TSLL
ETF +2x BULL standardDirexion Shares ETF Trust Direxion Daily TSLA Bull 2X ETF
Realized return vs theoretical +2x TSLA
Pair counterpart found:
TSLQ
(-2x bear, Investment Managers Series Trust II Tradr 2X Short TSLA Daily ETF)
Shorting both legs of a daily-reset bull/bear pair captures combined decay drift over time. Theoretical "free money" — actual edge depends on borrow rates (often punitive on the bear leg) and assignment risk on hard-to-borrow products.
Other leveraged products tracking TSLA
| Symbol | Factor | Direction | Issuer | Name | Implied AUM | 30d Vol | Options |
|---|---|---|---|---|---|---|---|
| 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 | |
| TSL | +1.25x | BULL | GraniteShares | GraniteShares 1.25x Long TSLA Daily ETF | $11.2M | 742,935 | |
| 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 TSLL works
TSLL targets +2x 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 +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. 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 TSLL 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.