What Is the TSLT ETF? A Complete Guide to Returns, Expense Ratio, Holdings and Alternative ETFs
The T-REX 2X Long Tesla Daily Target ETF (TSLT) is a single-stock leveraged product that uses swaps to track twice the daily performance of Tesla shares. Key points to check are its management fees, the compounding effect of daily resets, and concentration risk.
SubscribeWhat Is the T-REX 2X Long Tesla Daily Target ETF?
This is a single-stock leveraged ETF that aims for twice the exposure to the daily price moves of Tesla (TSLA) common stock. It does not hold the underlying shares directly. Instead, it obtains leveraged exposure through swap agreements with global financial institutions, giving it a non-diversified structure.
It is suited to active traders who have conviction about Tesla's short-term direction and who understand leverage risk and the daily reset structure.
The ETF is actively managed by Tidal Capital Management's affiliate Tuttle Capital Management.
How Does the T-REX 2X Long Tesla Daily Target ETF Invest?
| Item | Details |
|---|---|
| Tracking target | Twice the daily performance of Tesla (TSLA) |
| Management style | Leveraged (swap-based) |
| Leverage ratio | 2x long, daily |
| Distribution frequency | No regular distributions |
| Total expense ratio | 1.05% |
The fund invests a significant portion of its net assets in swap agreements with major global financial institutions to track twice Tesla's daily return. Because the target multiple is reset every trading day, cumulative returns over holding periods longer than one day will not simply match an amplified version of the underlying stock's price change.
- Leveraged structure concentrated in a single stock
- Non-diversified management based on swap agreements
T-REX 2X Long Tesla Daily Target ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $152.7M, and the total expense ratio is 1.05% per year.
Because exposure is built through swaps rather than by holding individual shares directly, counterparty risk comes with it.
T-REX 2X Long Tesla Daily Target ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe ETF is linked at 2x to the price movements of its underlying asset, Tesla, so it tends to show large swings. Given its leveraged nature, gains are amplified in rising markets, but losses are also magnified in falling markets, and value erosion can occur during sideways, volatile periods.
Fund flows tend to be volatile, driven by demand for short-term bullish bets on Tesla. The ETF reacts sensitively to market sentiment and Tesla-related events, and because it is used as a directional trading tool, inflows come mainly from money with short holding periods.
T-REX 2X Long Tesla Daily Target ETF Pros and Cons
Its strength is that it amplifies gains during short-term Tesla rallies, while its drawbacks are the high risk from leverage decay and single-stock concentration.
💪 Key Strengths
⚠️ Points to Watch
T-REX 2X Long Tesla Daily Target ETF Alternative ETFs and Related Products
Index-based leveraged ETFs such as TQQQ, SOXL and SPXL fall in the same leveraged category and are useful for comparison, but they track broad indexes rather than a single stock. Products directly linked to Tesla as a single stock include TSLL, another 2x long ETF, and for those who want to bet against Tesla, the inverse products TSLS, TSLQ and TSDD are worth considering.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 TQQQ | ProShares UltraPro QQQ 3x Shares | $57.68 | -3.7% | $33.6B | 0.78% | 0.84% | +10.2% |
 SOXL | Direxion Daily Semiconductor Bull 3X ETF | $58.32 | -11.0% | $17.6B | 0.75% | 0.16% | +48.7% |
 QLD | ProShares Ultra QQQ 2x Shares | $79.30 | -2.5% | $12.7B | 0.89% | 0.16% | +13.9% |
 SSO | ProShares Ultra S&P500 2x Shares | $67.05 | -0.8% | $7.2B | 0.84% | 0.71% | +18.6% |
 SPXL | Direxion Daily S&P 500 Bull 3X ETF | $265.10 | -1.2% | $6.5B | 0.84% | 0.55% | +24.2% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| TSLA | Tesla Inc | 0.02% | $390.22 | -1.8% | $1.54T | 429.2 | - |
T-REX 2X Long Tesla Daily Target ETF Investor Checkpoints
Here are the points to review before investing in TSLT. As a single-stock leveraged product, it calls for a careful advance review of the appropriate holding period, operating costs, the compounding effect of daily resets, and stock concentration.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| ⏱️ Holding period | Whether it is short-term trading suited to the daily reset structure | Assumes short-term holding |
| 💵 Expense ratio | Cost burden that accumulates over long holding periods | On the high side |
| 📉 Leverage decay | Possibility of compounding distortion in volatile markets | Needs checking |
| 🎯 Stock concentration | Dependence on the single stock Tesla | No diversification |
Compounding decay from daily resets and single-stock concentration are the key risk factors. If you hold through a highly volatile period for a long time, losses can remain even after the underlying asset recovers, which makes the ETF unsuitable for any purpose other than short-term trading.
This is a tool for active traders betting on Tesla's short-term direction. It is recommended for short-term trading purposes only when you fully understand leverage risk and the daily reset structure.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 18, 2026.
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