DRV vs. TECL
DRV (Direxion Daily Real Estate Bear 3x Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, DRV returned -27.93%/yr vs 45.88%/yr for TECL. Their -0.46 correlation means they have often moved in opposite directions in the past. DRV charges 1.08%/yr vs 0.91%/yr for TECL.
Performance
DRV vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, DRV achieves a -31.44% return, which is significantly lower than TECL's 48.00% return. Over the past 10 years, DRV has underperformed TECL with an annualized return of -27.93%, while TECL has yielded a comparatively higher 45.88% annualized return.
DRV
- 1D
- 1.83%
- 1M
- -2.68%
- 6M
- -25.85%
- YTD
- -31.44%
- 1Y
- -28.22%
- 3Y*
- -23.26%
- 5Y*
- -15.14%
- 10Y*
- -27.93%
- ALL TIME*
- -43.10%
TECL
- 1D
- -0.52%
- 1M
- -11.12%
- 6M
- 50.64%
- YTD
- 48.00%
- 1Y
- 91.25%
- 3Y*
- 47.81%
- 5Y*
- 24.87%
- 10Y*
- 45.88%
- ALL TIME*
- 46.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.36M | $3.03M | $2.54M | |
| $140.43M | $155.29M | $226.00M |
DRV vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | -31.44% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 5.07% | -17.10% |
TECL Direxion Daily Technology Bull 3X Shares | 48.00% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 185.58% | -24.03% | 124.82% |
Correlation
The correlation between DRV and TECL is 0.08, 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. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | -0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.36 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | -0.46 |
The correlation between DRV and TECL shifts across timeframes, from -0.46 (all time) to 0.08 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRV vs. TECL — Risk / Return Rank
DRV
TECL
DRV vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) 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.
| DRV | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.21 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 1.71 | -2.45 |
| Martin ratioReturn relative to average drawdown | -1.49 | 4.07 | -5.56 |
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Drawdowns
DRV vs. TECL - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for DRV and TECL.
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Drawdown Indicators
| DRV | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -77.96% | -22.03% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -46.58% | +9.05% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -66.58% | -7.31% |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | -77.96% | +1.83% |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | -77.96% | -19.64% |
Current DrawdownCurrent decline from peak | -99.99% | -36.44% | -63.55% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -18.45% | -79.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 19.52% | -1.06% |
Volatility
DRV vs. TECL - Volatility Comparison
The current volatility for Direxion Daily Real Estate Bear 3x Shares (DRV) is 13.26%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 28.17%. This indicates that DRV 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
| DRV | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.26% | 28.17% | -14.91% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 65.35% | -32.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 76.26% | -33.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 76.62% | -19.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 73.57% | -10.73% |
DRV vs. TECL - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
DRV vs. TECL - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.94%, less than TECL's 4.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | 3.94% | 2.88% | 4.57% | 5.35% | 0.38% | 0.00% | 0.58% | 1.71% | 0.42% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 4.81% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
DRV 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.
TECL has higher volatility (28.17%) compared to DRV (13.26%). In terms of maximum drawdown, DRV dropped -99.99% vs TECL's -77.96%.
On 10-year performance, TECL leads with 45.88% vs -27.93% for DRV. On fees, TECL is cheaper at 0.91% per year. On volatility, DRV has been the lower-risk option at 13.26%. 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 45.88% return vs -27.93%. 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 1.08% for DRV.
TECL has the higher dividend yield at 4.81%, compared with 3.94% for DRV.
DRV is categorized as REIT, while TECL is Leveraged Equities. DRV tracks MSCI US REIT Index (-300%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.08% for DRV and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (1.05 vs -0.66), 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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