Direxion Daily TSLA Bull 2X Shares

TSLL is the Direxion Daily TSLA Bull 2X Shares — a leveraged ETF designed to deliver 2× the daily return of Tesla (TSLA) common stock. The 2× exposure resets every trading day at market close. TER is 0.95%. Single-stock leveraged ETFs are a relatively new product class (most launched 2022-2023). Direxion explicitly markets TSLL for "daily trading objectives".

Single-stock products inherit all the leverage decay of broader-index leveraged ETFs PLUS company-specific event risk: earnings surprises, regulatory action, key-personnel departures, product-launch failures. Tesla in particular has historical 1-day moves of ±15-20% on news; TSLL doubles those moves to ±30-40%. There is no diversification cushion. A single bad earnings report can produce drawdowns >50% in a few sessions, and decay then prevents recovery even if Tesla itself recovers.

Yes. TSLL is available via Hatch, Stake, Sharesies (US market), and Interactive Brokers. Above NZ$50,000 cost basis FIF rules apply. Single-stock leveraged ETFs interact particularly badly with the FDR floor — high volatility = large decay; FDR taxes 5% × opening MV regardless of actual return. Multi-month buy-and-hold positions are likely to be tax-heavy and decay-heavy simultaneously. See our risk explainer.

That's actually a less-bad choice for buy-and-hold, because direct TSLA holds don't suffer daily-reset decay. The reason TSLL exists is for short-term tactical trading: it lets a trader take a 2× directional bet on Tesla's near-term move with smaller capital outlay than buying twice as much stock. For any holding period longer than a few days, the leveraged ETF underperforms the equivalent unleveraged 2× TSLA position.