tsls stock: Direxion Daily TSLA Bear 1X Shares
TSLS (Direxion Daily TSLA Bear 1X Shares)
tsls stock refers to the exchange-traded fund (ETF) ticker TSLS, issued by Direxion, and listed on the NASDAQ. TSLS seeks daily inverse (-1x) exposure to the price movement of Tesla, Inc. (TSLA). This article explains what tsls stock is, how the fund is structured and traded, the mechanics and risks of daily inverse ETFs, and practical considerations for active traders and hedgers. It is written for beginners and active market participants who want a clear, sourced reference. As always, consult the fund prospectus and a qualified tax or financial professional before acting.
Fund overview
TSLS is an ETF designed to deliver the inverse (-1x) of Tesla, Inc.’s daily performance. In plain terms, on any single trading day, if TSLA (Tesla stock) falls by 1%, tsls stock aims to rise by approximately 1%, before fees and expenses; conversely, if TSLA rises by 1%, tsls stock aims to fall by roughly 1% that day. Because the objective is explicitly a daily inverse target, returns over multi-day periods can diverge from a simple negative multiple of Tesla’s cumulative returns due to compounding and daily rebalancing.
The intended investor profile for tsls stock is active traders, short-term hedgers, and market participants seeking tactical inverse exposure to Tesla for intraday or very short-term horizons. It is not structured for buy-and-hold investors who intend to maintain exposure for extended periods.
Issuer and listing
TSLS is issued by Direxion Shares ETF Trust and sponsored by Direxion. The fund is listed on the NASDAQ exchange under the ticker TSLS. The fund’s inception date is August 2022. For the most current issuer and listing details, refer to the fund prospectus and the issuer’s product page; these primary sources provide the official legal statements and any corporate updates. As of 2026-01-26, per the Direxion product page and public filings, the fund’s inception remains August 2022 and the stated expense ratio is reported at approximately 0.94% (net), subject to change in future filings.
Investment strategy and mechanics
tsls stock seeks inverse exposure to TSLA for a single trading day. The fund uses one or a combination of the following methods to achieve its daily target:
- Derivative contracts such as total return swaps and futures.
- Short positions in the underlying equity or equity-index instruments where available and appropriate.
- Cash or cash equivalents and U.S. Treasury holdings used as collateral.
Daily rebalancing: Because the fund’s objective is a daily inverse (-1x) return, the fund resets its exposure each trading day to match the target for the following day. This reset process is commonly called daily rebalancing. Rebalancing forces the fund manager to adjust exposure as market moves occur, which produces path dependency: the sequence and magnitude of daily returns affect multi-day outcomes.
Compounding and path dependency: Over multiple days, the performance of tsls stock can deviate significantly from a simple negative of TSLA’s cumulative return. Volatility and compounding can produce return outcomes that are larger or smaller in magnitude than the straightforward inverse of the underlying’s net change, particularly in volatile markets. For example, repeated alternating up-and-down days in TSLA can erode expected returns from an inverse ETF due to volatility drag.
Fund structure and holdings
Typical portfolio composition for a single-day inverse ETF like tsls stock includes a mix of cash and cash equivalents (often U.S. Treasury securities or short-term instruments), derivative contracts (swaps, futures, options) used to create short exposure, and collateral held to satisfy counterparty requirements. The fund’s daily holdings can change as the manager rebalances positions.
Holdings transparency: Direxion provides periodic holdings disclosures, often on a daily or monthly basis, which show derivatives and cash positions. Third-party data providers and fund profile services (e.g., Morningstar and Nasdaq fund pages) also publish holdings snapshots periodically. Investors should consult the latest official holdings report or the fund prospectus for the most accurate and timely composition details.
Key fund facts and statistics
Below are the standard factual items investors typically review for tsls stock. Many of these items are dynamic and change with market conditions; verify the latest figures on the issuer’s product page or official filings.
- Ticker: TSLS
- Issuing trust: Direxion Shares ETF Trust
- Objective: Daily inverse (-1x) exposure to the price movement of Tesla, Inc. (TSLA)
- Listing exchange: NASDAQ
- Inception date: August 2022
- Expense ratio: Reported at approximately 0.94% (net) as stated by the issuer; check the latest prospectus for any updates
- NAV vs market price: Like all ETFs, TSLS has a Net Asset Value (NAV) and a market price. Market price can trade at a premium or discount to NAV intraday depending on supply and demand.
- Assets under management (AUM): AUM is variable; consult the Direxion product page or exchange filings for current AUM figures. As of 2026-01-26, consult the issuer page for the reported AUM.
- Average daily trading volume: Average volume can vary materially day to day; look up real-time market-data sources or the NASDAQ quote page for current averages.
- CUSIP / Identifiers: The fund has unique identifiers (CUSIP, ISIN) listed on the prospectus and exchange filings.
- Liquidity considerations: TSLS may exhibit lower liquidity than large broad-market ETFs. Bid/ask spreads and market depth should be checked before trading, especially for larger orders or thin markets.
Performance
Performance for tsls stock is reported both by NAV (the fund’s internal value) and by market close price (the trading value). Daily returns should closely match the intended inverse of TSLA’s daily returns before fees and expenses. For multi-day periods, reported returns can diverge due to compounding and path dependency.
Historical price ranges such as 52-week highs and lows, sample historical returns, and performance tables are published by market-data platforms and Direxion’s own performance pages. For quantifiable, up-to-date historical data (e.g., year-to-date returns, 1-year, 3-year returns), refer to the issuer performance page or market-data services. As of 2026-01-26, consult the official fund performance table for the latest realized returns.
Risks and limitations
Key risks associated with tsls stock include:
- Compounding and path dependency: Because tsls stock targets a daily inverse return, multi-day performance is path-dependent. Holding the fund over several days can produce results very different from a simple inverse of the underlying’s net movement.
- Tracking error: The fund may not perfectly achieve the inverse of daily TSLA returns due to fees, transaction costs, and imperfect derivatives replication.
- Derivatives and counterparty risk: Use of swaps and derivative contracts introduces counterparty credit risk and the potential for losses if counterparties fail to perform. Collateral arrangements can mitigate but not eliminate this risk.
- Liquidity risk: In stressed markets, liquidity for the ETF or its instruments can worsen, producing wider spreads and difficulty executing trades at desired prices.
- Leverage mechanics (inverse exposure): While TSLS targets -1x (non-levered inverse), the mechanics used to deliver inverse exposure can magnify losses relative to the same direction move in the underlying over time.
- Not appropriate for buy-and-hold: The fund is generally unsuitable for long-term buy-and-hold investors seeking to maintain a static short position in TSLA. The issuer expressly recommends use for short-term tactical exposure, typically intraday.
Fees, distributions and tax considerations
Fees: The fund’s expense ratio is reported by the issuer; as noted, Direxion lists a net expense ratio of approximately 0.94% (check the prospectus for the official, current number). Other trading costs include bid/ask spread, brokerage commissions (if applicable), and market impact for larger orders.
Distributions: If the fund receives dividends from short positions or cash equivalents pay interest, it may distribute net investment income to shareholders. Distribution frequency and amounts, if any, are reported on the issuer’s site and shareholder communications. Check the fund’s distribution history for specifics.
Tax considerations: Tax treatment depends on a shareholder’s jurisdiction and the underlying mechanics of the ETF. Funds that use derivatives or create short exposure may generate ordinary income or short-term capital gains in some circumstances rather than long-term capital gains, even for longer holding periods. U.S. investors should consult a tax professional; read the fund prospectus for any provision on tax reporting. This article does not provide tax advice.
Trading and market data
Trading characteristics for tsls stock:
- Ticker: TSLS on NASDAQ.
- Quotes and charts: Real-time quotes and charting for TSLS are available from exchange and market-data providers. Traders should confirm NAV, intraday indicative values (when provided), and market price before trading.
- Volume and liquidity: Average daily volume and liquidity metrics vary. Check current market-data snapshots to understand typical spreads and depth.
- Options and derivatives on the ETF: Some ETFs have exchange-listed options or futures on the fund itself, though not all do. Check the options chain or the exchange’s derivative listings for TSLS to confirm availability.
- Common trading uses: TSLS is commonly used for intraday hedging against long TSLA exposure, short-term speculation on downward moves in TSLA, or tactical portfolio adjustments requiring inverse exposure for very short horizons.
Use cases and investor considerations
Typical use cases for tsls stock include:
- Intraday hedge: An investor long TSLA stock might use tsls stock intraday to offset downside risk for a short period.
- Short-term speculation: Traders anticipating a one-day decline in TSLA may take a position in tsls stock rather than shorting TSLA directly.
- Portfolio tactical exposures: Active traders may use tsls stock to quickly express a bearish view on Tesla without borrowing shares for a short sale.
Investor considerations and warnings:
- Because tsls stock resets daily, holding it beyond a single trading day can produce unexpected long-term returns. Avoid treating it as a straightforward long-term short of Tesla.
- Active monitoring is necessary: frequent rebalancing by the fund manager and market moves can materially change exposure and outcomes.
- Understand your tax situation and capital gains classification. Short-term trading can create ordinary-income-type distributions or frequent taxable events.
Comparison with related products
Investors often compare tsls stock to other products that provide inverse or leveraged exposure to Tesla. Relevant comparison points include:
- Leverage multiple: TSLS targets -1x. Other funds may target -2x or +2x or other multiples of daily returns, which materially increases volatility and risk.
- Inverse vs. bull funds: A 2x bull fund for TSLA seeks to amplify daily gains, whereas tsls stock seeks a daily inverse return. Objective difference matters for holding period suitability.
- Direct short-selling of TSLA: Shorting TSLA stock directly achieves a negative exposure but requires borrowing shares, margin, and exposes the investor to potential short squeezes and unlimited loss. TSLS encapsulates inverse exposure as a packaged product with its own costs and mechanics, and is designed to simplify short exposure without executing a naked short.
Review the prospectus and comparative fund fact sheets when choosing between inverse ETFs, leveraged ETFs, or direct short positions. Understand that differences in daily objective, leverage, fees, and rebalancing mechanics drive performance differences over multiple days.
Regulatory, governance and documentation
Primary documentation for tsls stock includes the fund prospectus, statement of additional information (SAI), shareholder reports, and any issuer advisories. These documents disclose legal terms, fees, risks, counterparty arrangements, and performance reporting methodology. Investors should review the prospectus carefully before trading.
Regulatory filings such as Form N-1A (for U.S.-registered ETFs) and periodic 10Q/10K filings (where applicable) are also authoritative sources. The issuer’s website typically supplies prospectuses and fact sheets; exchanges provide official listing and trading information.
Historical timeline and notable events
- August 2022: TSLS inception (listed on NASDAQ).
- Subsequent corporate actions: Any dividends, splits, or material strategy changes would be disclosed in shareholder communications. As of 2026-01-26, review the issuer’s archive of notices and filings for material events that may have affected shareholders.
- Significant NAV/price events: Market stress periods affecting Tesla’s volatility will often produce notable NAV swings for tsls stock. For dated examples and verified figures, consult NASDAQ and market-data pages reporting historical intraday and daily NAVs.
References
Primary authoritative references for tsls stock include the following issuer and market-data sources. For any facts or figures cited in this article, consult the official documents from these sources for verification:
- Direxion product page and prospectus for TSLS (issuer disclosures and official fund facts).
- NASDAQ quote and fund page for TSLS (listing, market data, intraday quotes, and historical data).
- Morningstar profile for TSLS (holdings snapshot and independent fund metrics).
- Yahoo Finance TSLS page (historical prices and range metrics).
- MarketChameleon TSLS overview (volume, options, and market behavior analysis).
- CNBC and other reputable market-data outlets for real-time quote snapshots and news items.
As of 2026-01-26, per the Direxion product page, the fund’s stated net expense ratio is approximately 0.94% and the inception date is August 2022. For current AUM, daily volume, and the fund’s most recent holdings, see the issuer’s official pages and recent SEC filings.
See also
- TSLA (Tesla, Inc.)
- TSLL (Direxion Daily TSLA Bull 2X) — a leveraged bull counterpart for daily TSLA exposures
- Inverse ETFs
- Leveraged ETFs
- Short selling
- ETF prospectus reading guide
- Direxion Investments
Practical next steps and where to trade
If you are considering trading tsls stock, follow these practical steps:
- Read the fund prospectus and the issuer’s fact sheet to confirm the stated objective, expense ratio, and holdings disclosures.
- Review current market-data for TSLS: NAV, market price, average daily volume, and bid/ask spreads on the day you plan to trade.
- Decide on an intended holding period. If you intend to hold for longer than a single trading day, model multi-day outcomes to understand compounding effects.
- Consider execution strategy: small limit orders, monitoring spreads, and using size appropriate to liquidity to reduce market impact.
- Check tax implications with a professional—ETF-driven derivative exposure can create specific tax reporting outcomes.
- For custody and trading, consider well-regulated platforms. For crypto and Web3 wallet needs, Bitget Wallet is recommended for secure custody in the Bitget ecosystem. For trading on regulated markets, use brokerages that provide NASDAQ access and the ability to trade ETFs in your jurisdiction.
Important disclaimers and final notes
This article explains tsls stock in neutral, educational terms. It is not financial, legal, or tax advice. The mechanics of inverse ETFs are complex; performance over long periods can vary materially from the intended daily inverse benchmark due to compounding, fees, and derivative costs. Investors should consult the fund prospectus and qualified advisors before trading.
To explore live quotes, up-to-date holdings, and the latest fund disclosures for TSLS, consult the issuer’s product page, exchange listings, and official filings. For trading and secure custody solutions related to ETFs and other market instruments, consider Bitget’s trading platform and Bitget Wallet as part of your workflow.
Further reading and the most current numeric statistics for tsls stock (AUM, daily volume, NAV history, and distributions) should be retrieved from the primary sources listed under References. Always verify data with official documents before making trade decisions.
Article compiled using issuer materials and market-data sources. As of 2026-01-26, figures and statements in the article reference the Direxion product page and public market-data sources; check those sources for updated numbers.
