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 -29.40%/yr vs 52.52%/yr for TECL. At a correlation of -0.47, they often move in opposite directions. 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 -29.93% return, which is significantly lower than TECL's 79.13% return. Over the past 10 years, DRV has underperformed TECL with an annualized return of -29.40%, while TECL has yielded a comparatively higher 52.52% annualized return.
DRV
- 1D
- -4.91%
- 1M
- -4.37%
- YTD
- -29.93%
- 6M
- -30.51%
- 1Y
- -22.15%
- 3Y*
- -27.14%
- 5Y*
- -17.01%
- 10Y*
- -29.40%
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%
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 | -29.93% | -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 | 79.13% | 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 0.01, 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 (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.39 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | -0.47 |
The correlation between DRV and TECL shifts across timeframes, from -0.47 (all time) to 0.01 (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 | -2.97 | ||
| Sortino ratioReturn per unit of downside risk | -3.11 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.34 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 3.67 | -4.35 |
| Martin ratioReturn relative to average drawdown | -1.47 | 10.12 | -11.59 |
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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 | -32.86% | -46.58% | +13.72% |
Max Drawdown (3Y)Largest decline over 3 years | -71.93% | -66.58% | -5.35% |
Max Drawdown (5Y)Largest decline over 5 years | -74.35% | -77.96% | +3.61% |
Max Drawdown (10Y)Largest decline over 10 years | -97.42% | -77.96% | -19.46% |
Current DrawdownCurrent decline from peak | -99.99% | -23.07% | -76.92% |
Average DrawdownAverage peak-to-trough decline | -97.75% | -18.38% | -79.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.12% | 16.85% | -1.73% |
Volatility
DRV vs. TECL - Volatility Comparison
The current volatility for Direxion Daily Real Estate Bear 3x Shares (DRV) is 16.42%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 38.27%. 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 | 16.42% | 38.27% | -21.85% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 59.36% | -27.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.62% | 70.05% | -27.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.12% | 75.49% | -18.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.82% | 73.01% | -10.19% |
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 4.00%, which matches TECL's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | 4.00% | 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 | 3.97% | 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 0.01, 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 DRV (16.42%). In terms of maximum drawdown, DRV dropped -99.99% vs TECL's -77.96%.
On 10-year performance, TECL leads with 52.52% vs -29.40% for DRV. On fees, TECL is cheaper at 0.91% per year. On volatility, DRV has been the lower-risk option at 16.42%. 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 52.52% return vs -29.40%. 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.
DRV has the higher dividend yield at 4.00%, compared with 3.97% for TECL.
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 (2.44 vs -0.52), 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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