ERY vs. TECL
ERY (Direxion Daily Energy Bear 2X Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds from Direxion - ERY tracks the Energy Select Sector Index (-300%) while TECL tracks the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, ERY returned -33.88%/yr vs 50.09%/yr for TECL. At a correlation of -0.44, they often move in opposite directions. ERY charges 1.07%/yr vs 0.91%/yr for TECL.
Performance
ERY vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, ERY achieves a -44.59% return, which is significantly lower than TECL's 72.61% return. Over the past 10 years, ERY has underperformed TECL with an annualized return of -33.88%, while TECL has yielded a comparatively higher 50.09% annualized return.
ERY
- 1D
- -0.18%
- 1M
- 1.11%
- YTD
- -44.59%
- 6M
- -42.08%
- 1Y
- -55.06%
- 3Y*
- -28.20%
- 5Y*
- -38.05%
- 10Y*
- -33.88%
TECL
- 1D
- -19.93%
- 1M
- 15.09%
- YTD
- 72.61%
- 6M
- 62.00%
- 1Y
- 182.62%
- 3Y*
- 66.22%
- 5Y*
- 35.93%
- 10Y*
- 50.09%
ERY vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -44.59% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
TECL Direxion Daily Technology Bull 3X Shares | 72.61% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 185.58% | -24.03% | 124.82% |
Correlation
The correlation between ERY and TECL is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.28 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2008 | -0.44 |
The correlation between ERY and TECL shifts across timeframes, from -0.44 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ERY vs. TECL — Risk / Return Rank
ERY
TECL
ERY vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) 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.
| ERY | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.16 | ||
| Sortino ratioReturn per unit of downside risk | -5.15 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.38 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 3.95 | -4.87 |
| Martin ratioReturn relative to average drawdown | -1.65 | 11.27 | -12.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ERY | TECL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.36 | 2.80 | -4.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.74 | 0.48 | -1.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.48 | 0.69 | -1.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.55 | 0.73 | -1.27 |
Drawdowns
ERY vs. TECL - Drawdown Comparison
The maximum ERY 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 ERY and TECL.
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Drawdown Indicators
| ERY | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -77.96% | -22.03% |
Max Drawdown (1Y)Largest decline over 1 year | -59.79% | -46.58% | -13.21% |
Max Drawdown (3Y)Largest decline over 3 years | -67.94% | -66.58% | -1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | -77.96% | -16.08% |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | -77.96% | -21.70% |
Current DrawdownCurrent decline from peak | -99.99% | -25.87% | -74.12% |
Average DrawdownAverage peak-to-trough decline | -96.93% | -18.38% | -78.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.47% | 16.27% | +17.20% |
Volatility
ERY vs. TECL - Volatility Comparison
The current volatility for Direxion Daily Energy Bear 2X Shares (ERY) is 16.11%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 31.75%. This indicates that ERY 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
| ERY | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.11% | 31.75% | -15.64% |
Volatility (6M)Calculated over the trailing 6-month period | 32.64% | 55.01% | -22.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.81% | 65.56% | -24.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.89% | 74.60% | -22.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.62% | 72.63% | -2.01% |
ERY vs. TECL - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
ERY vs. TECL - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 3.75%, less than TECL's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.75% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 4.12% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
ERY and TECL have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (31.75%) compared to ERY (16.11%). In terms of maximum drawdown, ERY dropped -99.99% vs TECL's -77.96%.
On 10-year performance, TECL leads with 50.09% vs -33.88% for ERY. On fees, TECL is cheaper at 0.91% per year. On volatility, ERY has been the lower-risk option at 16.11%. 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 50.09% return vs -33.88%. 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 ERY.
TECL has the higher dividend yield at 4.12%, compared with 3.75% for ERY.
ERY tracks Energy Select Sector Index (-300%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.07% for ERY and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (2.80 vs -1.36), 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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