DFND.AS vs. TECL

Last updated Jun 4, 2026

DFND.AS (iShares Global Aerospace & Defence UCITS ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - DFND.AS is a Industrials Equities fund tracking the S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). Both are passively managed. At a 0.08 correlation, their price movements are largely independent. DFND.AS charges 0.35%/yr vs 0.91%/yr for TECL.

Performance

DFND.AS vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Aerospace & Defence UCITS ETF (DFND.AS) and Direxion Daily Technology Bull 3X Shares (TECL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DFND.AS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TECL

• 1D: -2.99%
• 1M: 73.10%
• YTD: 125.87%
• 6M: 118.69%
• 1Y: 267.85%
• 3Y*: 80.64%
• 5Y*: 43.44%
• 10Y*: 54.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DFND.AS vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFND.AS iShares Global Aerospace & Defence UCITS ETF	0.00%	0.00%	16.29%
TECL Direxion Daily Technology Bull 3X Shares	125.87%	38.60%	20.49%

Correlation

The correlation between DFND.AS and TECL is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2024	0.08

Return for Risk

DFND.AS vs. TECL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TECL

TECL Risk / Return Rank: 85
TECL Sharpe Ratio Rank: 96
TECL Sortino Ratio Rank: 80
TECL Omega Ratio Rank: 79
TECL Calmar Ratio Rank: 90
TECL Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DFND.AS vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Aerospace & Defence UCITS ETF (DFND.AS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DFND.AS	TECL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.35	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.76	—

Drawdowns

Drawdown Indicators

	DFND.AS	TECL	Difference
Max Drawdown Largest peak-to-trough decline	—	-77.96%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-46.58%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-66.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.96%	—
Current Drawdown Current decline from peak	—	-2.99%	—
Average Drawdown Average peak-to-trough decline	—	-18.38%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.19%	—

Volatility

Volatility by Period

	DFND.AS	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	49.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	62.17%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	74.09%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	72.35%	—

DFND.AS vs. TECL - Expense Ratio Comparison

DFND.AS has a 0.35% expense ratio, which is lower than TECL's 0.91% expense ratio.

Dividends

DFND.AS vs. TECL - Dividend Comparison

DFND.AS has not paid dividends to shareholders, while TECL's dividend yield for the trailing twelve months is around 3.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFND.AS iShares Global Aerospace & Defence UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TECL Direxion Daily Technology Bull 3X Shares	3.15%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%

Frequently Asked Questions

Can I hold both DFND.AS and TECL in my portfolio?

DFND.AS and TECL have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFND.AS or TECL?

On fees, DFND.AS is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFND.AS or TECL?

DFND.AS is cheaper with a 0.35% expense ratio, compared with 0.91% for TECL.

What is the main difference between DFND.AS and TECL?

DFND.AS is categorized as Industrials Equities, while TECL is Leveraged Equities. DFND.AS tracks S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index NR, while TECL tracks Technology Select Sector Index (300%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.35% for DFND.AS and 0.91% for TECL.