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 277 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% | 28.74M | Mar 2026 | TZA vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 48.98M | Sep 2021 | TZA vs IFED | |
| Direxion Daily S&P 500 Bull 2x Shares | 0.64% | 241.41M | May 2014 | TZA vs SPUU | |
| Leverage Shares 2X Long FUTU Daily ETF | 0.75% | 8.47M | Oct 2025 | TZA vs FUTG | |
| Leverage Shares 2x Long ABNB Daily ETF | 0.75% | 487.20K | Nov 2025 | TZA vs ABNG |
Best Risk-Adjusted Alternatives to TZA
TZA has a PortfoliosLab risk / return rank of 1. There are 218 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 | 3.44B | Oct 2024 | TZA vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 99 | 1.11B | Nov 2024 | TZA vs MULL | |
| Innovator Growth Accelerated Plus ETF - April | 98 | 19.26M | Apr 2021 | TZA vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.62M | Apr 2021 | TZA vs XTAP | |
| Direxion Daily South Korea Bull 3X Shares | 97 | 1.73B | Apr 2013 | TZA vs KORU |
Top Performing TZA Alternatives (YTD)
TZA is at -40.43% YTD. There are 298 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 961.23%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | 961.23% | 3.44B | Oct 2024 | TZA vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 936.86% | 1.11B | Nov 2024 | TZA vs MULL | |
| Leverage Shares 2X Long ARM Daily ETF | 936.32% | 75.08M | Jan 2025 | TZA vs ARMG | |
| GraniteShares 2x Long MRVL Daily ETF | 842.68% | 568.50M | Mar 2025 | TZA vs MVLL | |
| GraniteShares 2x Long DELL Daily ETF | 757.76% | 101.08M | Feb 2025 | TZA vs DLLL |
Lowest Volatility Alternatives to TZA
TZA has 57.05% 1-year volatility. There are 142 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.70%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.70% | 22.62M | Apr 2021 | TZA vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 5.56% | 19.26M | Apr 2021 | TZA vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.43% | 13.32M | Jul 2021 | TZA vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | 10.01% | 22.12M | Jul 2021 | TZA vs QTJL | |
| Innovator US Equity Accelerated ETF | 10.56% | 68.42M | Apr 2021 | TZA vs XDSQ |
Lowest Drawdown Alternatives to TZA
TZA has a 1-year max drawdown of -67.28%. There are 182 ETFs in the Leveraged Equities category with shallower 1-year drawdowns, going as shallow as -1.42%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | -1.42% | 22.62M | Apr 2021 | TZA vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -1.69% | 19.26M | Apr 2021 | TZA vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.32M | Jul 2021 | TZA vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -6.68% | 22.12M | Jul 2021 | TZA vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 68.42M | Apr 2021 | TZA vs XDSQ |
Other ETFs from Direxion
The 10 most viewed Direxion ETFs shown here include SOXL, SPXL, TMF and span 6 categories. AUM among these funds goes as high as $23B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Direxion Daily Semiconductor Bull 3X ETF | Leveraged Equities, Semiconductors | 97 | 567.48% | 22.99B | Mar 2010 | TZA vs SOXL | |
| Direxion Daily S&P 500 Bull 3X ETF | Leveraged Equities, S&P 500 | 63 | 28.14% | 6.39B | Nov 2008 | TZA vs SPXL | |
| Direxion Daily 20+ Year Treasury Bull 3X ETF | Leveraged Bonds | 9 | -6.13% | 2.58B | Apr 2009 | TZA vs TMF | |
| Direxion Daily Technology Bull 3X Shares | Leveraged Equities | 85 | 125.87% | 5.93B | Dec 2008 | TZA vs TECL | |
| Direxion Daily TSLA Bull 1.5X Shares | Leveraged Equities | 12 | -20.85% | 5.42B | Jun 2022 | TZA vs TSLL | |
| Direxion Daily Semiconductor Bear 3x Shares | Leveraged Equities | 1 | -92.10% | 2.01B | Mar 2010 | TZA vs SOXS | |
| Direxion NASDAQ-100 Equal Weighted Index Shares | Nasdaq-100 | 58 | 19.12% | 1.27B | Mar 2012 | TZA vs QQQE | |
| Direxion Daily NVDA Bull 2X Shares ETF | Leveraged Equities | 34 | 19.93% | 730.17M | Sep 2023 | TZA vs NVDU | |
| Direxion Daily S&P 500 Bear 3X Shares | Inverse Equities, Leveraged Equities | 1 | -25.49% | 388.61M | Nov 2008 | TZA vs SPXS | |
| Direxion Daily Gold Miners Bull 2X Shares | Leveraged Equities | 32 | -16.05% | 977.22M | Apr 2020 | TZA vs NUGT |
Often Compared With TZA
Investors most often compare TZA with TNA, SRTY, IWM. These 20 comparison targets span 4 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