AMZD vs. TECL
AMZD (Direxion Daily AMZN Bear 1X Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - AMZD is a Inverse Equities fund tracking the Amazon.com, Inc. (-100%), while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). Both are passively managed. Over the past 3 years, AMZD returned -20.20%/yr vs 65.84%/yr for TECL. At a correlation of -0.63, they often move in opposite directions. AMZD charges 1.09%/yr vs 0.91%/yr for TECL.
Performance
AMZD vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, AMZD achieves a -3.80% return, which is significantly lower than TECL's 79.13% return.
AMZD
- 1D
- -1.13%
- 1M
- 12.37%
- YTD
- -3.80%
- 6M
- -3.13%
- 1Y
- -14.44%
- 3Y*
- -20.20%
- 5Y*
- —
- 10Y*
- —
TECL
- 1D
- -12.35%
- 1M
- 1.15%
- YTD
- 79.13%
- 6M
- 71.47%
- 1Y
- 169.88%
- 3Y*
- 65.84%
- 5Y*
- 33.78%
- 10Y*
- 52.52%
AMZD vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AMZD Direxion Daily AMZN Bear 1X Shares | -3.80% | -9.84% | -30.80% | -46.50% | 45.25% |
TECL Direxion Daily Technology Bull 3X Shares | 79.13% | 38.60% | 36.15% | 203.14% | -26.13% |
Correlation
The correlation between AMZD and TECL is -0.47, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.60 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.63 |
The correlation between AMZD and TECL shifts across timeframes, from -0.63 (all time) to -0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AMZD vs. TECL — Risk / Return Rank
AMZD
TECL
AMZD vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AMZN Bear 1X Shares (AMZD) and Direxion Daily Technology Bull 3X Shares (TECL). 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.
| AMZD | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.91 | ||
| Sortino ratioReturn per unit of downside risk | -3.04 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.34 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 3.67 | -4.18 |
| Martin ratioReturn relative to average drawdown | -1.14 | 10.12 | -11.26 |
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Drawdowns
AMZD vs. TECL - Drawdown Comparison
The maximum AMZD drawdown since its inception was -73.05%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for AMZD and TECL.
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Drawdown Indicators
| AMZD | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.05% | -77.96% | +4.91% |
Max Drawdown (1Y)Largest decline over 1 year | -28.27% | -46.58% | +18.31% |
Max Drawdown (3Y)Largest decline over 3 years | -59.20% | -66.58% | +7.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.96% | — |
Current DrawdownCurrent decline from peak | -68.70% | -23.07% | -45.63% |
Average DrawdownAverage peak-to-trough decline | -49.33% | -18.38% | -30.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.43% | 16.85% | -3.42% |
Volatility
AMZD vs. TECL - Volatility Comparison
The current volatility for Direxion Daily AMZN Bear 1X Shares (AMZD) is 10.13%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 38.27%. This indicates that AMZD experiences smaller price fluctuations and is considered to be less risky than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMZD | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.13% | 38.27% | -28.14% |
Volatility (6M)Calculated over the trailing 6-month period | 21.78% | 59.36% | -37.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.03% | 70.05% | -39.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.47% | 75.49% | -42.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.47% | 73.01% | -39.54% |
AMZD vs. TECL - Expense Ratio Comparison
AMZD has a 1.09% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
AMZD vs. TECL - Dividend Comparison
AMZD's dividend yield for the trailing twelve months is around 3.26%, less than TECL's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AMZD Direxion Daily AMZN Bear 1X Shares | 3.26% | 3.61% | 5.15% | 6.83% | 2.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 3.97% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
AMZD and TECL have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (38.27%) compared to AMZD (10.13%). In terms of maximum drawdown, AMZD dropped -73.05% vs TECL's -77.96%.
On 3-year performance, TECL leads with 65.84% vs -20.20% for AMZD. On fees, TECL is cheaper at 0.91% per year. On volatility, AMZD has been the lower-risk option at 10.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TECL has performed better with a 65.84% return vs -20.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECL is cheaper with a 0.91% expense ratio, compared with 1.09% for AMZD.
TECL has the higher dividend yield at 3.97%, compared with 3.26% for AMZD.
AMZD is categorized as Inverse Equities, while TECL is Leveraged Equities. AMZD tracks Amazon.com, Inc. (-100%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.09% for AMZD and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (2.44 vs -0.47), 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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