ProShares Ultra TSLA (TSLI)

ProShares Ultra TSLA (TSLI) is a leveraged single-stock fund from ProShares that seeks daily investment results equal to two times (200%) the daily performance of Tesla, Inc. (TSLA) common stock. Tesla is the electric vehicle and clean energy company led by Elon Musk.

The fund uses swaps and other derivatives to obtain its magnified exposure. It targets a 2x multiple of returns for a single day only and rebalances daily, so its results over longer periods can deviate significantly from twice Tesla's return, particularly in volatile markets. The ETF trades on NYSE Arca.