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ISIN: XS2706221277

-2x Short Tesla

NAV as of 20 Oct 2026, 12:00 AM UTC

$0.51 (-3.77%)

Year-To-Date Change

-8.69%

  • Exchange closed LSE
  • Exchange closed XAMS

Capital at risk. NAV calculated by Leverage Shares. For more information on the calculation please click here

More Leverage Factors:

Overview

What is the -2x Short Tesla ETP?

The Leverage Shares -2x Short Tesla ETP (ISIN XS2706221277) is an exchange traded product (ETP) that seeks to deliver minus two times (-2x) the daily performance of Tesla Inc. It achieves leverage through margin borrowing and has physical ownership of the underlying, so it does not use swaps or other derivatives to achieve its exposure, and it does not have credit risk. Exposure is rebalanced daily, and an intraday rebalance mechanism ("airbag") is designed to cushion the largest intra-day moves, triggering at 25%. You cannot lose more than the amount you invest. The Leverage Shares -2x Short Tesla ETP has an annual management fee of 0.75% and is listed on the following exchanges: London Stock Exchange, Euronext Amsterdam. It is designed for short term trading and should be monitored daily.

ETP objective

To seek daily investment results, before fees and expenses, that correspond to -200% (-2x) the daily performance of the underlying stock (TSLA).

Who is this product for?

Sophisticated investors and active traders seeking to express short-term bearish views or tactically hedge positions, via inverse exposure and without a margin account.

*However, these are complex products.

Value of Underlying Assets

$-1,615,922

or -4,324 shares of TSLA

AUM

$807,931

or 1,579,324 shares of TS2S

Liabilities

$2,423,853

Listings & Tickers

Exchange Base Currency Trading Currency Exchange Code ISIN SEDOL BBG Ticker WKN Listing Date
London Stock Exchange USD GBP 2STS XS2706221277 BRBTTR4 2STS LN N/A 17 Mar 2021
London Stock Exchange USD EUR 2STE XS2706221277 BRBTTS5 2STE LN N/A 17 Mar 2021
London Stock Exchange USD USD TS2S XS2706221277 BRBTTK7 TS2S LN N/A 17 Mar 2021
Euronext Amsterdam USD EUR 2STS XS2706221277 BRWK4S2 2STS NA N/A 13 Apr 2021

Key Facts

Index Details

Index Name
iSTOXX Inverse Leveraged -2x TSLA Index
Index Provider
STOXX Limited
Index Bloomberg Ticker
IX2ITSLA
Leverage Factor
-2x

Net Asset Value

NAV (as of 20 Oct 2026)
$0.51
Daily Return (% NAV change)
-3.77%
Daily Change (of NAV)
$-0.02

Structure

Structure
ETP
Domicile
Ireland
Replication Method
Physical
Dividends
Reinvested
Underlying Asset
TSLA
Target Weights
Rebalance Frequency

Fees

Annual Management Fee
0.75%
Interest Paid On Cash Balances
Fed Funds Effective
(Overnight Rate) - 1%
Performance Fee
Stock Borrow Rate
1.88%

Key Services Providers

Issuer
Leverage Shares plc
Arranger
Leverage Shares Management Company Limited
Trustee
Apex Corporate Trustees (UK) Limited
Issuing and Paying Agent
U.S. Bank Europe DAC
Registrar
U.S. Bank Europe DAC
Portfolio Administrators
Flexinvest Limited
Stock Borrowing Provider and Custodian
Interactive Brokers LLC, Morgan Stanley & Co. LLC and/or Pershing LLC
Determination Agent
Calculation Agent Services LLC
Initial Authorised Participant
BNP Paribas Arbitrage S.N.C.,Virtu Financial Ireland Limited, Flow Traders and others
Sponsor
Fact Sheet
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Reportable Income UK Fund Reporting EMT
Notices
Latest Notice
18.09.2026 Batch Notification 11.09.2026 Notice Appointment of Authorised Participants 26.08.2026 Notification of New Series 21.07.2026 Batch Notification 19.06.2026 Notice to ETP Securityholders 03.06.2026 Notices of Investment Strategy Modifications 21.05.2026 Batch Notification 30.04.2026 Notification of New Series 24.03.2026 Notification of New Series 23.03.2026 Batch Notification 11.03.2026 Notices of Investment Strategy Modifications 31.10.2025 Notice of Publication of Audited Financial Statements 06.08.2025 Updated to IB Margin Account Agreement 08.05.2025 Notice Appointment of Additional Authorised Participant 16.01.2025 Notice to ETP Securityholders 02.10.2024 Notice of Amended & Restated Margin Account Agreement 29.07.2024 Notice of Appointment of Pershing as Additional Margin Load Provider 17.07.2024 Notice of Deed of Amendment and Restatement 03.11.2023 Consolidation Notice 02.11.2023 Notice of Late Filing of Audited Financial Report 24.10.2023 Consolidation Notice 20.10.2023 Consolidation Notice 19.10.2023 Notice to ETP Securityholders 10.10.2023 Notice of Result of Adjourned Meeting 26.09.2023 Notice of Reinstatement of Arranger Fee 20.09.2023 Notice of Migration to IB LLC 25.08.2023 Leverage Shares -2X Short Tesla ETP Securities 04.05.2023 Notice of Amended and Restated Conditions 15.03.2023 Notice of Extension of Fee Waiver 13.12.2022 Notice of Result of Adjourned Meeting 09.12.2022 Notice of Extension of Deadline 29.11.2022 Notice of Delisting from Euronext Paris 12.10.2022 Intraday Rebalance 29.09.2022 Notice Waiver of Arranger Fee 19.08.2022 Notice of Mandatory Redemption 16.08.2022 Notice of Amended and Restated Master Trust Deed 08.08.2022 Mandatory Redemption 20.07.2022 Intraday Rebalance 18.07.2022 Intraday Rebalance 15.07.2022 Intraday Rebalance 01.07.2022 Intraday Rebalance 21.06.2022 Intraday Rebalance 14.06.2022 Notice of Delisting 13.06.2022 Intraday Rebalance 24.05.2022 Intraday Rebalance 13.05.2022 Intraday Rebalance 12.05.2022 Intraday Rebalance 12.05.2022 Notice of Waiver of Arranger Fee 09.05.2022 Intraday Rebalance 05.05.2022 Intraday Rebalance 05.05.2022 Notice of Issuer Call Redemption 27.04.2022 Notice of Issuer Call Redemption 20.04.2022 Intraday Rebalance 29.03.2022 Notice of Waiver of Arranger Fee 23.03.2022 Notice of Series Name Change 16.03.2022 Intraday Rebalance 14.03.2022 Intraday Rebalance 10.03.2022 Intraday Rebalance 07.03.2022 Notice of Delisting from CBOE Europe Limited. 18.02.2022 Intraday Rebalance 16.02.2022 Intraday Rebalance 03.02.2022 Intraday Rebalance 02.02.2022 Intraday Rebalance 31.01.2022 Intraday Rebalance 21.01.2022 Intraday Rebalance 31.12.2021 Intraday Rebalance 07.12.2021 Notice of Amended and Restated Terms and Conditions 05.12.2021 Notice of Intraday Rebalance and Issuer Call Redemption 05.12.2021 Notice to ETP Securityholders 23.11.2021 Notice of Intraday Rebalance 18.11.2021 Notice of Change of Portfolio Administrator 16.11.2021 Notice to ETP Securityholders 09.11.2021 Notice to ETP Securityholders 08.10.2021 Notice of Arranger Fee Increase 27.09.2021 Notice of Change of Portfolio Administrator 17.09.2021 Notice of Fee Decrease 17.09.2021 Notice of Fee Increase 31.08.2021 Intraday Rebalance 12.04.2021 Notice of Cross Listing 26.01.2021 Notice of Cross Listing (Euronext Paris) 12.01.2021 Notice of Cross Listing (Euronext Amsterdam) 23.12.2020 Notice of Termination of Service Providers 18.12.2020 Notice of Confirmation of Migration to ICSD 08.12.2020 Notice of Migration to ICSD 27.11.2020 Notice of Change of Issuing and Paying Agent 27.10.2020 Notice of Change of Service Providers

Frequently Asked Questions about the -2x Short Tesla ETP

The Leverage Shares -2x Short Tesla ETP (ISIN XS2706221277) is an exchange traded product (ETP) that seeks to deliver minus two times (-2x) the daily performance of Tesla Inc. It is listed on the following exchanges: London Stock Exchange, Euronext Amsterdam.
The Leverage Shares -2x Short Tesla ETP has an annual management fee of 0.75%.
The Leverage Shares -2x Short Tesla ETP achieves its short exposure to Tesla Inc through short selling. It borrows securities and sells them at the current market price, and the proceeds of the sale are held in its margin account. Over a single day, its value is expected to rise when the underlying falls and to fall when the underlying rises, excluding fees and costs.
The Leverage Shares -2x Short Tesla is an exchange traded product, not an ETF. ETPs are structured as debt securities and lie outside the remit of UCITS. While not UCITS compliant, they may be UCITS eligible, meaning they are capable of being an eligible investment for another UCITS fund. It trades on exchange in the same way as a share.
The Leverage Shares -2x Short Tesla ETP is designed for short term trading. It rebalances daily to maintain its -2x exposure to Tesla Inc. Held for longer than one day, returns may differ from -2x the return of the underlying over that period, because of daily rebalancing and compounding.
Volatility decay is the effect of daily rebalancing and compounding on a leveraged product. When Tesla Inc moves up and down repeatedly, compounding erodes value, and the effect is stronger the higher the leverage and the longer the holding period. This means the Leverage Shares -2x Short Tesla ETP can lose value over time even if the underlying ends up flat.
An investor in the Leverage Shares -2x Short Tesla ETP cannot lose more than the amount they invest. You could lose the full value of your investment if Tesla Inc moves against the ETP by more than one-half (roughly 50%) in a single day. An intraday rebalance mechanism ("airbag") is designed to cushion the largest intra-day moves, triggering at 25%.
Yes. Alongside the Leverage Shares -2x Short Tesla ETP, the Leverage Shares 2x Tesla ETP (ISIN IE00BK5BZY66) provides 2x exposure to Tesla Inc.
The Leverage Shares -2x Short Tesla ETP does not pay dividends.
The Leverage Shares -2x Short Tesla ETP is designed for short term trading, not long-term investing. Investing in Short and Leveraged ETPs is only suitable for sophisticated traders who understand leverage, daily rebalancing and compounded daily returns. Only use these ETPs if you can monitor your positions daily.
Yes, the Leverage Shares -2x Short Tesla ETP is SIPP and ISA eligible, subject to availability on your SIPP or ISA platform.
The Leverage Shares -2x Short Tesla ETP is 100% backed with the underlying using a margin loan for long ETPs and with cash for short ETPs. Leverage Shares does not use derivatives, like swaps, to offer leveraged exposures.
Experienced investors may use the Leverage Shares -2x Short Tesla ETP for a variety of strategies. Some examples include responding to technical indicators, acting on earnings or news announcements, and hedging existing exposures in a portfolio. The recommended holding period is one day.
The Leverage Shares -2x Short Tesla ETP can be traded through brokerage accounts that have access to the exchanges where it is listed. It trades on the following exchanges, each with the ticker(s) to search on that exchange:
  • London Stock Exchange: 2STS (GBP), 2STE (EUR), TS2S (USD)
  • Euronext Amsterdam: 2STS (EUR)
Investors do not need a margin account in order to trade Leverage Shares ETPs.