DUST vs. TECL
DUST (Direxion Daily Gold Miners Bear 2X Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds from Direxion - DUST tracks the NYSE Arca Gold Miners Index (-300%) while TECL tracks the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, DUST returned -49.28%/yr vs 47.50%/yr for TECL. At a correlation of -0.16, they often move in opposite directions. DUST charges 1.07%/yr vs 0.91%/yr for TECL.
Performance
DUST vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, DUST achieves a -4.79% return, which is significantly lower than TECL's 56.36% return. Over the past 10 years, DUST has underperformed TECL with an annualized return of -49.28%, while TECL has yielded a comparatively higher 47.50% annualized return.
DUST
- 1D
- 7.05%
- 1M
- 44.18%
- 6M
- 22.98%
- YTD
- -4.79%
- 1Y
- -70.93%
- 3Y*
- -58.02%
- 5Y*
- -46.95%
- 10Y*
- -49.28%
TECL
- 1D
- -6.99%
- 1M
- -16.54%
- 6M
- 52.63%
- YTD
- 56.36%
- 1Y
- 97.13%
- 3Y*
- 50.48%
- 5Y*
- 27.73%
- 10Y*
- 47.50%
DUST vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | -4.79% | -88.72% | -29.51% | -27.63% | -22.70% | -4.82% | -85.75% | -75.11% | -3.27% | -51.00% |
TECL Direxion Daily Technology Bull 3X Shares | 56.36% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 185.58% | -24.03% | 124.82% |
Correlation
The correlation between DUST and TECL is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010 | -0.16 |
The correlation between DUST and TECL shifts across timeframes, from -0.36 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DUST vs. TECL — Risk / Return Rank
DUST
TECL
DUST vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bear 2X Shares (DUST) 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.
| DUST | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -3.06 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.24 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 2.10 | -2.92 |
| Martin ratioReturn relative to average drawdown | -1.05 | 5.40 | -6.46 |
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Drawdowns
DUST vs. TECL - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for DUST and TECL.
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Drawdown Indicators
| DUST | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -77.96% | -22.04% |
Max Drawdown (1Y)Largest decline over 1 year | -85.83% | -46.58% | -39.25% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | -66.58% | -30.97% |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | -77.96% | -20.72% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -77.96% | -22.02% |
Current DrawdownCurrent decline from peak | -100.00% | -32.85% | -67.15% |
Average DrawdownAverage peak-to-trough decline | -83.45% | -18.40% | -65.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.27% | 18.05% | +49.22% |
Volatility
DUST vs. TECL - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Bear 2X Shares (DUST) is 23.53%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 29.65%. This indicates that DUST 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
| DUST | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.53% | 29.65% | -6.12% |
Volatility (6M)Calculated over the trailing 6-month period | 77.17% | 63.10% | +14.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 95.66% | 73.23% | +22.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.51% | 76.11% | -2.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.97% | 73.26% | +13.71% |
DUST vs. TECL - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
DUST vs. TECL - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 3.98%, less than TECL's 4.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | 3.98% | 12.51% | 4.99% | 4.47% | 0.00% | 0.00% | 3.60% | 2.50% | 0.37% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 4.55% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
DUST and TECL have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (29.65%) compared to DUST (23.53%). In terms of maximum drawdown, DUST dropped -100.00% vs TECL's -77.96%.
On 10-year performance, TECL leads with 47.50% vs -49.28% for DUST. On fees, TECL is cheaper at 0.91% per year. On volatility, DUST has been the lower-risk option at 23.53%. 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 47.50% return vs -49.28%. 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 DUST.
TECL has the higher dividend yield at 4.55%, compared with 3.98% for DUST.
DUST tracks NYSE Arca Gold Miners Index (-300%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.07% for DUST and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (1.33 vs -0.74), 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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