Daily TSLA Bear 1X ETF (TSLS) Performance
TSLS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +9.3% since Dec 31, 2025
- 1 year
- +6.6% total return
- 3 years
- −35.8% a year
- Since first price
- −28.0% a year since 2022
TSLS trailing returns vs SPY, QQQ, AGG
| Period | TSLS 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 | −15.9% | −16.5% | +3.2% | +1.9% | −0.4% |
| 6 months | −7.2% | −8.5% | +7.8% | +8.4% | −1.5% |
| YTD | +9.3% | +7.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +6.6% | +3.5% | +14.4% | +15.9% | −1.1% |
| 3 years | −73.6%−35.8%/yr | −76.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionAug 9, 2022 | −74.8%−28.0%/yr | −78.8% | — | — | — |
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: TSLS vs SPY
From Aug 9, 2022: TSLS grew to $2,518, SPY to $19,539.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TSLS returns by calendar year
0 of 3 full years positive. Best 2025 (−34.9%), worst 2023 (−60.1%). 2026 is year to date.
TSLS annual returns table
| Year | TSLS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +9.3% | −24.3% | +12.3% | +15.1% | −1.0% |
| 2025 | −34.9% | −64.7% | +17.7% | +20.8% | +7.2% |
| 2024 | −55.7% | −77.4% | +24.9% | +25.6% | +1.3% |
| 2023 | −60.1% | −67.8% | +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.
TSLS largest drawdowns
Now 89.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 27, 2022 | −90.7% | Dec 16, 2025 | not yet | 3.0 years | 3.8 years so far |
| Nov 21, 2022 | −14.8% | Dec 1, 2022 | Dec 13, 2022 | 10 days | 22 days |
| Sep 2, 2022 | −13.3% | Sep 19, 2022 | Sep 30, 2022 | 17 days | 28 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.
TSLS risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | −31.3% | −28.1% |
| Volatility (annualized) | 53.5% | 59.8% |
| Sharpe ratio | -0.51 | -0.33 |
| Sortino ratio | -0.70 | -0.47 |
| Best month | +34.9% | +50.7% |
| Worst month | −31.1% | −33.2% |
| Best 12 months | +9.5% | +11.2% |
| Worst 12 months | −67.3% | −67.3% |
| Positive months | 44% | 47% |
| Beta vs S&P 500 | -1.55 | — |
| Correlation with S&P 500 | -0.36 | — |
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.
TSLS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 39 | −67.3% | −34.9% | +11.2% | 10% |
| 3-year (a year) | 15 | −51.4% | −38.5% | −26.9% | 0% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
TSLS performance overview
Daily TSLA Bear 1X ETF (TSLS) returned +6.6% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned −28.0% a year, turning $10,000 into about $2,518. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −90.7%, from Dec 27, 2022 to Dec 16, 2025; the fund has not yet regained that high. TSLS finished 0 of its 3 full calendar years with a gain; the best year was 2025 (−34.9%) and the worst 2023 (−60.1%). Volatility has been 59.8% a year.
Related: TSLS chart, TSLS dividends. See the TSLS overview for the latest quote and fund facts.
TSLS performance FAQ
What is the TSLS return over the past year?
TSLS returned +6.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.5%.
How much would $10,000 invested in TSLS be worth?
$10,000 invested in TSLS at its first recorded close on August 9, 2022 would be worth about $2,518 on October 23, 2026 with distributions reinvested.
What was the worst year for TSLS?
The worst calendar year was 2023, with a total return of −60.1%. The best was 2025 at −34.9%.
What is the biggest drawdown of TSLS?
The largest peak-to-trough decline was −90.7% between December 27, 2022 and December 16, 2025. It has not yet recovered to that high; it is 89.0% below its peak.
How volatile is TSLS?
Over the past 3 years TSLS had an annualized volatility of 53.5% and a Sharpe ratio of -0.51 (excess return over 1–3 month T-bills per unit of risk).