Bid to Launch ETFs That Aim to Double Tesla’s Famous Volatility Filed With SEC
- Past tries at double-leveraged, single-stock ETFs have failed
- Tesla-focused ETFs command the bulk of assets in new category
A Tesla Inc. electric vehicle for test drives.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
A long-shot bid to launch double-leveraged, single-stock exchange-traded funds tracking the notoriously volatile Tesla Inc. has been filed with US regulators after past attempts have failed.
The T-Rex 2X Long Tesla Daily Target ETF would trade under the ticker TSLT and use derivatives to track twice the daily returns of Elon Musk’s electric-vehicle maker, according to a Tuesday filing. Its sister fund, the T-Rex 2X Inverse Tesla Daily Target ETF, would trade under the ticker TSLZ and follow the reverse performance of Tesla stock by the same magnitude.