FN vs. TNA

Last updated Jun 13, 2026

FN (Fabrinet) is a stock, while TNA (Direxion Daily Small Cap Bull 3X Shares) is Leveraged Equities fund tracking the Russell 2000 Index (300%). Over the past 10 years, FN returned 32.67%/yr vs 8.78%/yr for TNA. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

FN vs. TNA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fabrinet (FN) and Direxion Daily Small Cap Bull 3X Shares (TNA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FN achieves a 34.21% return, which is significantly lower than TNA's 53.14% return. Over the past 10 years, FN has outperformed TNA with an annualized return of 32.67%, while TNA has yielded a comparatively lower 8.78% annualized return.

FN

• 1D: 4.94%
• 1M: -15.38%
• YTD: 34.21%
• 6M: 29.76%
• 1Y: 149.30%
• 3Y*: 67.62%
• 5Y*: 45.38%
• 10Y*: 32.67%

TNA

• 1D: 2.53%
• 1M: 6.93%
• YTD: 53.14%
• 6M: 40.13%
• 1Y: 130.01%
• 3Y*: 25.74%
• 5Y*: -6.50%
• 10Y*: 8.78%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FN vs. TNA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FN Fabrinet	34.21%	107.06%	15.53%	48.44%	8.23%	52.69%	19.66%	26.37%	78.78%	-28.78%
TNA Direxion Daily Small Cap Bull 3X Shares	53.14%	9.82%	7.21%	26.24%	-62.48%	27.88%	-7.82%	71.88%	-39.89%	39.15%

Correlation

The correlation between FN and TNA is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jun 25, 2010	0.53

The correlation between FN and TNA shifts across timeframes, from 0.45 (1 year) to 0.57 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

FN vs. TNA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FN

FN Risk / Return Rank: 89
FN Sharpe Ratio Rank: 90
FN Sortino Ratio Rank: 83
FN Omega Ratio Rank: 83
FN Calmar Ratio Rank: 95
FN Martin Ratio Rank: 94

TNA

TNA Risk / Return Rank: 68
TNA Sharpe Ratio Rank: 72
TNA Sortino Ratio Rank: 61
TNA Omega Ratio Rank: 54
TNA Calmar Ratio Rank: 80
TNA Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FN vs. TNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fabrinet (FN) and Direxion Daily Small Cap Bull 3X Shares (TNA). 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.

	FN	TNA	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.01	+0.06
Sortino ratio: Return per unit of downside risk	2.41	2.48	-0.07
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.02
Calmar ratio: Return relative to maximum drawdown	6.22	3.63	+2.59
Martin ratio: Return relative to average drawdown	15.46	11.92	+3.54

FN vs. TNA - Sharpe Ratio Comparison

The current FN Sharpe Ratio is 2.07, which is comparable to the TNA Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of FN and TNA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FN vs. TNA - Drawdown Comparison

The maximum FN drawdown since its inception was -70.46%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for FN and TNA.

Drawdown Indicators

	FN	TNA	Difference
Max Drawdown Largest peak-to-trough decline	-70.46%	-88.09%	+17.63%
Max Drawdown (1Y) Largest decline over 1 year	-22.27%	-32.53%	+10.26%
Max Drawdown (3Y) Largest decline over 3 years	-37.47%	-65.78%	+28.31%
Max Drawdown (5Y) Largest decline over 5 years	-38.70%	-82.36%	+43.66%
Max Drawdown (10Y) Largest decline over 10 years	-51.11%	-88.09%	+36.98%
Current Drawdown Current decline from peak	-18.15%	-35.23%	+17.08%
Average Drawdown Average peak-to-trough decline	-22.58%	-33.92%	+11.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.95%	9.91%	-0.96%

Volatility

FN vs. TNA - Volatility Comparison

Fabrinet (FN) has a higher volatility of 24.63% compared to Direxion Daily Small Cap Bull 3X Shares (TNA) at 21.54%. This indicates that FN's price experiences larger fluctuations and is considered to be riskier than TNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FN	TNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.63%	21.54%	+3.09%
Volatility (6M) Calculated over the trailing 6-month period	56.18%	42.61%	+13.57%
Volatility (1Y) Calculated over the trailing 1-year period	67.07%	58.70%	+8.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.67%	67.57%	-13.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.29%	68.54%	-20.25%

Dividends

FN vs. TNA - Dividend Comparison

FN has not paid dividends to shareholders, while TNA's dividend yield for the trailing twelve months is around 0.39%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FN Fabrinet	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TNA Direxion Daily Small Cap Bull 3X Shares	0.39%	0.78%	0.93%	1.27%	0.31%	0.06%	0.03%	0.44%	0.36%	0.15%

Frequently Asked Questions

Can I hold both FN and TNA in my portfolio?

FN and TNA have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FN or TNA?

FN has higher volatility (24.63%) compared to TNA (21.54%). In terms of maximum drawdown, FN dropped -70.46% vs TNA's -88.09%.

Which has better risk-adjusted returns?

FN currently has the higher Sharpe Ratio (2.07 vs 2.01), 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.