Direxion Daily Small Cap Bear 3X Shares (TZA) belongs to the Leveraged Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with TZA. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to TZA
TZA charges 1.11% annually. There are 290 ETFs in the Leveraged Equities category with lower expense ratios, going as low as 0.35%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| WisdomTree Efficient U.S. Plus International Equit... | 0.35% | 44.22M | Mar 2026 | TZA vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 49.31M | Sep 2021 | TZA vs IFED | |
| Direxion Daily S&P 500 Bull 2X ETF | 0.60% | 257.66M | May 2014 | TZA vs SPUU | |
| Leverage Shares 2X Long ALB Daily ETF | 0.75% | — | Jan 2026 | TZA vs ALBG | |
| Leverage Shares 2X Long VALE Daily ETF | 0.75% | — | Dec 2025 | TZA vs VALG |
Best Risk-Adjusted Alternatives to TZA
TZA has a PortfoliosLab risk / return rank of 1. There are 252 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | 99 | 6.16B | Oct 2024 | TZA vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 98 | 923.53M | Nov 2024 | TZA vs MULL | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.82M | Apr 2021 | TZA vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 97 | 20.50M | Apr 2021 | TZA vs QTAP | |
| GraniteShares 2x Long INTC Daily ETF | 96 | 509.42M | Feb 2025 | TZA vs INTW |
Top Performing TZA Alternatives (YTD)
TZA is at -44.60% YTD. There are 289 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 738.32%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| GraniteShares 2x Long DELL Daily ETF | 738.32% | 162.40M | Feb 2025 | TZA vs DLLL | |
| Direxion Daily MU Bull 2X Shares | 575.80% | 6.16B | Oct 2024 | TZA vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 555.59% | 923.53M | Nov 2024 | TZA vs MULL | |
| Direxion Daily INTC Bull 2X Shares | 395.01% | 101.49M | Nov 2025 | TZA vs LINT | |
| GraniteShares 2x Long INTC Daily ETF | 394.65% | 509.42M | Feb 2025 | TZA vs INTW |
Lowest Volatility Alternatives to TZA
TZA has 58.13% 1-year volatility. There are 143 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.77%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.77% | 22.82M | Apr 2021 | TZA vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 6.21% | 20.50M | Apr 2021 | TZA vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.40% | 13.45M | Jul 2021 | TZA vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | 10.50% | 20.95M | Jul 2021 | TZA vs QTJL | |
| Innovator US Equity Accelerated ETF | 10.55% | 69.49M | Apr 2021 | TZA vs XDSQ |
Lowest Drawdown Alternatives to TZA
TZA has a 1-year max drawdown of -67.34%. There are 197 ETFs in the Leveraged Equities category with shallower 1-year drawdowns, going as shallow as -1.72%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | -1.72% | 22.82M | Apr 2021 | TZA vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -2.49% | 20.50M | Apr 2021 | TZA vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.45M | Jul 2021 | TZA vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -6.68% | 20.95M | Jul 2021 | TZA vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 69.49M | Apr 2021 | TZA vs XDSQ |
Other ETFs from Direxion
The 10 most viewed Direxion ETFs shown here include SOXL, SPXL, TECL and span 9 categories. AUM among these funds goes as high as $25B.
Often Compared With TZA
Investors most often compare TZA with TNA, IWM, SRTY. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare TZA with Any Fund or Stock
Compare TZA with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair TZA with funds that move differently
Direxion Daily Small Cap Bear 3X Shares alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to TZA.
Explore TZA Diversifiers