AXS TSLA Bear Daily ETF (TSLQ) Performance
TSLQ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −5.0% since Dec 31, 2025
- 1 year
- −14.6% total return
- 3 years
- −67.6% a year
- Since first price
- −57.2% a year since 2022
TSLQ trailing returns vs SPY, QQQ, AGG
| Period | TSLQ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.7% | +1.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −33.3% | −33.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −26.1% | −26.1% | +7.8% | +8.4% | −1.5% |
| YTD | −5.0% | −5.0% | +12.3% | +15.1% | −1.0% |
| 1 year | −14.6% | −23.8% | +14.4% | +15.9% | −1.1% |
| 3 years | −96.6%−67.6%/yr | −97.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionJul 14, 2022 | −97.4%−57.2%/yr | −98.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TSLQ vs SPY
From Jul 14, 2022: TSLQ grew to $265, SPY to $21,267.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TSLQ returns by calendar year
0 of 3 full years positive. Best 2023 (−60.0%), worst 2024 (−83.2%). 2026 is year to date.
TSLQ annual returns table
| Year | TSLQ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −5.0% | −45.8% | +12.3% | +15.1% | −1.0% |
| 2025 | −74.7% | −91.8% | +17.7% | +20.8% | +7.2% |
| 2024 | −83.2% | −92.5% | +24.9% | +25.6% | +1.3% |
| 2023 | −60.0% | −67.7% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TSLQ largest drawdowns
Now 98.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 27, 2022 | −98.7% | Dec 22, 2025 | not yet | 3.0 years | 3.8 years so far |
| Jul 14, 2022 | −26.0% | Sep 19, 2022 | Oct 7, 2022 | 2 months | 3 months |
| Nov 21, 2022 | −14.7% | Dec 1, 2022 | Dec 13, 2022 | 10 days | 22 days |
| Oct 14, 2022 | −11.4% | Oct 28, 2022 | Nov 7, 2022 | 14 days | 24 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TSLQ risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | −64.6% | −54.4% |
| Volatility (annualized) | 93.1% | 87.6% |
| Sharpe ratio | -0.65 | -0.48 |
| Sortino ratio | -0.88 | -0.66 |
| Best month | +76.1% | +76.1% |
| Worst month | −55.7% | −55.7% |
| Best 12 months | −10.0% | +12.2% |
| Worst 12 months | −92.3% | −92.3% |
| Positive months | 39% | 44% |
| Beta vs S&P 500 | -2.41 | — |
| Correlation with S&P 500 | -0.32 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TSLQ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 40 | −92.3% | −61.9% | +12.2% | 8% |
| 3-year (a year) | 16 | −74.3% | −66.5% | −54.5% | 0% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
TSLQ performance overview
AXS TSLA Bear Daily ETF (TSLQ) returned −14.6% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned −57.2% a year, turning $10,000 into about $265. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −98.7%, from Dec 27, 2022 to Dec 22, 2025; the fund has not yet regained that high. TSLQ finished 0 of its 3 full calendar years with a gain; the best year was 2023 (−60.0%) and the worst 2024 (−83.2%). Volatility has been 87.6% a year.
Related: TSLQ chart, TSLQ dividends. See the TSLQ overview for the latest quote and fund facts.
TSLQ performance FAQ
What is the TSLQ return over the past year?
TSLQ returned −14.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 23.8%.
How much would $10,000 invested in TSLQ be worth?
$10,000 invested in TSLQ at its first recorded close on July 14, 2022 would be worth about $265 on October 23, 2026 with distributions reinvested.
What was the worst year for TSLQ?
The worst calendar year was 2024, with a total return of −83.2%. The best was 2023 at −60.0%.
What is the biggest drawdown of TSLQ?
The largest peak-to-trough decline was −98.7% between December 27, 2022 and December 22, 2025. It has not yet recovered to that high; it is 98.6% below its peak.
How volatile is TSLQ?
Over the past 3 years TSLQ had an annualized volatility of 93.1% and a Sharpe ratio of -0.65 (excess return over 1–3 month T-bills per unit of risk).