Direxion Daily TSLA Bear 1X ETF

Frequently Asked Questions About TSLS

What does TSLS invest in?

The Direxion Daily TSLA Bull 2X ETF and Direxion Daily TSLA Bear 1X ETF are designed to achieve particular daily returns based on the performance of Tesla, Inc. (NASDAQ: TSLA) common stock. The Bull 2X ETF targets daily investment outcomes that are double (200%) the stock's performance, before deducting fees and expenses. In contrast, the Bear 1X ETF strives for daily results equal to the inverse (or opposite) movement of Tesla's shares, prior to any associated costs.

What is the expense ratio of TSLS?

Direxion Daily TSLA Bear 1X ETF (TSLS) charges an expense ratio of 0.95%. This is the annual fee deducted from fund assets to cover management and operations.

Is TSLS a good long-term hold?

TSLS is a inverse fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does TSLS's daily reset work?

TSLS rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is TSLS?

Direxion Daily TSLA Bear 1X ETF (TSLS) manages $72.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is TSLS actively managed or an index fund?

TSLS's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.