ABLS vs. TNA
ABLS (Abacus FCF Small Cap Leaders ETF) and TNA (Direxion Daily Small Cap Bull 3X Shares) are both exchange-traded funds - ABLS is a Small Cap Blend Equities fund tracking the Abacus FCF Small Cap Leaders Index, while TNA is a Leveraged Equities fund tracking the Russell 2000 Index (300% Daily). Both are passively managed. Over the past year, ABLS returned 14.54% vs 108.54% for TNA. Their correlation of 0.80 means they have usually moved in the same direction. ABLS charges 0.39%/yr vs 1.05%/yr for TNA.
Performance
ABLS vs. TNA - Performance Comparison
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Returns By Period
In the year-to-date period, ABLS achieves a 13.73% return, which is significantly lower than TNA's 48.69% return.
ABLS
- 1D
- -0.53%
- 1M
- -3.94%
- 6M
- 16.41%
- YTD
- 13.73%
- 1Y
- 14.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.62%
TNA
- 1D
- -1.37%
- 1M
- -7.22%
- 6M
- 28.70%
- YTD
- 48.69%
- 1Y
- 108.54%
- 3Y*
- 19.19%
- 5Y*
- -4.05%
- 10Y*
- 7.13%
- ALL TIME*
- 14.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $105.10K | $83.71K | $40.86K | |
| $284.85M | $300.19M | $411.47M |
ABLS vs. TNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ABLS Abacus FCF Small Cap Leaders ETF | 13.73% | -8.72% |
TNA Direxion Daily Small Cap Bull 3X Shares | 48.69% | 3.50% |
Correlation
The correlation between ABLS and TNA is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025 | 0.80 |
The correlation between ABLS and TNA has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.
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Return for Risk
ABLS vs. TNA — Risk / Return Rank
ABLS
TNA
ABLS vs. TNA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Abacus FCF Small Cap Leaders ETF (ABLS) and Direxion Daily Small Cap Bull 3X Shares (TNA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ABLS | TNA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.26 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 2.95 | -2.19 |
| Martin ratioReturn relative to average drawdown | 2.11 | 9.70 | -7.59 |
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Drawdowns
ABLS vs. TNA - Drawdown Comparison
The maximum ABLS drawdown since its inception was -19.28%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for ABLS and TNA.
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Drawdown Indicators
| ABLS | TNA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.28% | -88.09% | +68.81% |
Max Drawdown (1Y)Largest decline over 1 year | -16.19% | -32.53% | +16.34% |
Max Drawdown (3Y)Largest decline over 3 years | — | -65.78% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -82.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -88.09% | — |
Current DrawdownCurrent decline from peak | -4.68% | -37.12% | +32.44% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -33.92% | +26.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.84% | 9.90% | -4.06% |
Volatility
ABLS vs. TNA - Volatility Comparison
The current volatility for Abacus FCF Small Cap Leaders ETF (ABLS) is 5.51%, while Direxion Daily Small Cap Bull 3X Shares (TNA) has a volatility of 11.41%. This indicates that ABLS experiences smaller price fluctuations and is considered to be less risky than TNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ABLS | TNA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.51% | 11.41% | -5.90% |
Volatility (6M)Calculated over the trailing 6-month period | 13.54% | 42.11% | -28.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.35% | 57.87% | -39.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.05% | 67.19% | -46.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.05% | 68.35% | -47.30% |
ABLS vs. TNA - Expense Ratio Comparison
ABLS has a 0.39% expense ratio, which is lower than TNA's 1.05% expense ratio.
Dividends
ABLS vs. TNA - Dividend Comparison
ABLS's dividend yield for the trailing twelve months is around 12.66%, more than TNA's 0.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ABLS Abacus FCF Small Cap Leaders ETF | 12.66% | 14.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TNA Direxion Daily Small Cap Bull 3X Shares | 0.31% | 0.78% | 0.93% | 1.27% | 0.31% | 0.06% | 0.03% | 0.44% | 0.36% | 0.15% |
Frequently Asked Questions
ABLS and TNA have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TNA has higher volatility (11.41%) compared to ABLS (5.51%). In terms of maximum drawdown, ABLS dropped -19.28% vs TNA's -88.09%.
On 1-year performance, TNA leads with 108.54% vs 14.54% for ABLS. On fees, ABLS is cheaper at 0.39% per year. On volatility, ABLS has been the lower-risk option at 5.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TNA has performed better with a 108.54% return vs 14.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ABLS is cheaper with a 0.39% expense ratio, compared with 1.05% for TNA.
ABLS has the higher dividend yield at 12.66%, compared with 0.31% for TNA.
ABLS is categorized as Small Cap Blend Equities, while TNA is Leveraged Equities. ABLS tracks Abacus FCF Small Cap Leaders Index, while TNA tracks Russell 2000 Index (300% Daily). They also come from different issuers: Abacus and Direxion. Their fees differ too: 0.39% for ABLS and 1.05% for TNA.
TNA currently has the higher Sharpe Ratio (1.66 vs 0.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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