AVS vs. TEK
AVS (Direxion Daily AVGO Bear 1X Shares) and TEK (iShares Technology Opportunities Active ETF) are both exchange-traded funds - AVS is a Inverse Equities fund actively managed by Direxion, while TEK is a Technology Equities fund actively managed by iShares. Both are actively managed. Over the past year, AVS returned -40.93% vs 50.74% for TEK. At a correlation of -0.77, they often move in opposite directions. AVS charges 0.98%/yr vs 0.75%/yr for TEK.
Performance
AVS vs. TEK - Performance Comparison
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Returns By Period
In the year-to-date period, AVS achieves a -16.68% return, which is significantly lower than TEK's 34.93% return.
AVS
- 1D
- -0.51%
- 1M
- 4.24%
- YTD
- -16.68%
- 6M
- -15.57%
- 1Y
- -40.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TEK
- 1D
- -0.27%
- 1M
- 2.56%
- YTD
- 34.93%
- 6M
- 33.42%
- 1Y
- 50.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AVS vs. TEK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AVS Direxion Daily AVGO Bear 1X Shares | -16.68% | -45.96% | -29.39% |
TEK iShares Technology Opportunities Active ETF | 34.93% | 18.63% | 2.63% |
Correlation
The correlation between AVS and TEK is -0.75, 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 | -0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024 | -0.77 |
The correlation between AVS and TEK has been stable across timeframes, ranging from -0.77 to -0.75 - a consistent structural relationship.
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Return for Risk
AVS vs. TEK — Risk / Return Rank
AVS
TEK
AVS vs. TEK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AVGO Bear 1X Shares (AVS) and iShares Technology Opportunities Active ETF (TEK). 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.
| AVS | TEK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.50 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.31 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 2.64 | -3.44 |
| Martin ratioReturn relative to average drawdown | -1.41 | 7.48 | -8.90 |
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Drawdowns
AVS vs. TEK - Drawdown Comparison
The maximum AVS drawdown since its inception was -76.77%, which is greater than TEK's maximum drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for AVS and TEK.
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Drawdown Indicators
| AVS | TEK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.77% | -28.24% | -48.53% |
Max Drawdown (1Y)Largest decline over 1 year | -51.29% | -19.29% | -32.00% |
Current DrawdownCurrent decline from peak | -71.72% | -6.36% | -65.36% |
Average DrawdownAverage peak-to-trough decline | -49.51% | -5.87% | -43.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.24% | 6.80% | +22.44% |
Volatility
AVS vs. TEK - Volatility Comparison
Direxion Daily AVGO Bear 1X Shares (AVS) has a higher volatility of 20.67% compared to iShares Technology Opportunities Active ETF (TEK) at 15.85%. This indicates that AVS's price experiences larger fluctuations and is considered to be riskier than TEK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVS | TEK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.67% | 15.85% | +4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 33.02% | 25.07% | +7.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.66% | 29.30% | +17.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.05% | 30.78% | +23.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.05% | 30.78% | +23.27% |
AVS vs. TEK - Expense Ratio Comparison
AVS has a 0.98% expense ratio, which is higher than TEK's 0.75% expense ratio.
Dividends
AVS vs. TEK - Dividend Comparison
AVS's dividend yield for the trailing twelve months is around 3.48%, more than TEK's 1.18% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AVS Direxion Daily AVGO Bear 1X Shares | 3.48% | 4.22% | 1.63% |
TEK iShares Technology Opportunities Active ETF | 1.18% | 1.62% | 0.00% |
Frequently Asked Questions
AVS and TEK 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.
AVS has higher volatility (20.67%) compared to TEK (15.85%). In terms of maximum drawdown, AVS dropped -76.77% vs TEK's -28.24%.
On 1-year performance, TEK leads with 50.74% vs -40.93% for AVS. On fees, TEK is cheaper at 0.75% per year. On volatility, TEK has been the lower-risk option at 15.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TEK has performed better with a 50.74% return vs -40.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TEK is cheaper with a 0.75% expense ratio, compared with 0.98% for AVS.
AVS has the higher dividend yield at 3.48%, compared with 1.18% for TEK.
AVS is categorized as Inverse Equities, while TEK is Technology Equities. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.98% for AVS and 0.75% for TEK.
TEK currently has the higher Sharpe Ratio (1.74 vs -0.88), 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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