DRIP vs. TECL
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds from Direxion - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while TECL tracks the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, DRIP returned -42.61%/yr vs 45.72%/yr for TECL. Their -0.29 correlation means they have often moved in opposite directions in the past. DRIP charges 1.07%/yr vs 0.91%/yr for TECL.
Performance
DRIP vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -53.72% return, which is significantly lower than TECL's 54.56% return. Over the past 10 years, DRIP has underperformed TECL with an annualized return of -42.61%, while TECL has yielded a comparatively higher 45.72% annualized return.
DRIP
- 1D
- 3.59%
- 1M
- -22.42%
- 6M
- -46.02%
- YTD
- -53.72%
- 1Y
- -57.86%
- 3Y*
- -24.65%
- 5Y*
- -45.76%
- 10Y*
- -42.61%
- ALL TIME*
- -41.99%
TECL
- 1D
- 4.43%
- 1M
- -7.18%
- 6M
- 53.20%
- YTD
- 54.56%
- 1Y
- 99.73%
- 3Y*
- 56.77%
- 5Y*
- 25.61%
- 10Y*
- 45.72%
- ALL TIME*
- 46.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.92M | $63.12M | $132.02M | |
| $142.34M | $148.61M | $225.94M |
DRIP vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -53.72% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
TECL Direxion Daily Technology Bull 3X Shares | 54.56% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 185.58% | -24.03% | 124.82% |
Correlation
The correlation between DRIP and TECL is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | -0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.23 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.27 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.29 |
The correlation between DRIP and TECL shifts across timeframes, from -0.29 (all time) to 0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRIP vs. TECL — Risk / Return Rank
DRIP
TECL
DRIP vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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.
| DRIP | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.62 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.24 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 2.15 | -3.09 |
| Martin ratioReturn relative to average drawdown | -1.52 | 5.10 | -6.61 |
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Drawdowns
DRIP vs. TECL - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for DRIP and TECL.
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Drawdown Indicators
| DRIP | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -77.96% | -21.99% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -46.58% | -15.60% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -66.58% | -9.44% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -77.96% | -18.28% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -77.96% | -21.96% |
Current DrawdownCurrent decline from peak | -99.94% | -33.62% | -66.32% |
Average DrawdownAverage peak-to-trough decline | -90.56% | -18.45% | -72.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.17% | 19.63% | +18.54% |
Volatility
DRIP vs. TECL - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 17.47%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 27.41%. This indicates that DRIP 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
| DRIP | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.47% | 27.41% | -9.94% |
Volatility (6M)Calculated over the trailing 6-month period | 44.98% | 65.16% | -20.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 76.18% | -19.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.64% | 76.67% | -9.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.72% | 73.61% | +22.11% |
DRIP vs. TECL - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
DRIP vs. TECL - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.84%, less than TECL's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.84% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 4.61% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
DRIP and TECL have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (27.41%) compared to DRIP (17.47%). In terms of maximum drawdown, DRIP dropped -99.95% vs TECL's -77.96%.
On 10-year performance, TECL leads with 45.72% vs -42.61% for DRIP. On fees, TECL is cheaper at 0.91% per year. On volatility, DRIP has been the lower-risk option at 17.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TECL has performed better with a 45.72% return vs -42.61%. 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 1.07% for DRIP.
TECL has the higher dividend yield at 4.61%, compared with 3.84% for DRIP.
DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.07% for DRIP and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (1.32 vs -1.02), 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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