FNGD vs. TECS
FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and TECS (Direxion Daily Technology Bear 3X Shares) are both Leveraged Equities funds - FNGD tracks the NYSE FANG+ Index (-300%) while TECS tracks the Technology Select Sector Index (-300%). Both are passively managed. Over the past 5 years, FNGD returned -62.47%/yr vs -57.09%/yr for TECS. Their correlation of 0.86 suggests significant overlap in exposure. FNGD charges 0.95%/yr vs 1.08%/yr for TECS.
Performance
FNGD vs. TECS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FNGD achieves a -27.13% return, which is significantly higher than TECS's -60.06% return.
FNGD
- 1D
- 7.44%
- 1M
- 2.40%
- YTD
- -27.13%
- 6M
- -23.35%
- 1Y
- -49.41%
- 3Y*
- -65.49%
- 5Y*
- -62.47%
- 10Y*
- —
TECS
- 1D
- 11.54%
- 1M
- -13.82%
- YTD
- -60.06%
- 6M
- -58.34%
- 1Y
- -76.73%
- 3Y*
- -62.98%
- 5Y*
- -57.09%
- 10Y*
- -62.40%
FNGD vs. TECS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -27.13% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -72.46% | -16.61% |
TECS Direxion Daily Technology Bear 3X Shares | -60.06% | -62.44% | -49.76% | -74.45% | 45.05% | -67.92% | -87.79% | -73.77% | -0.55% |
Correlation
The correlation between FNGD and TECS is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2018 | 0.86 |
The correlation between FNGD and TECS has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FNGD vs. TECS — Risk / Return Rank
FNGD
TECS
FNGD vs. TECS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Direxion Daily Technology Bear 3X Shares (TECS). 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.
| FNGD | TECS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.75 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.98 | +0.23 |
| Martin ratioReturn relative to average drawdown | -1.52 | -1.86 | +0.34 |
Loading charts...
Drawdowns
FNGD vs. TECS - Drawdown Comparison
The maximum FNGD drawdown since its inception was -100.00%, roughly equal to the maximum TECS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FNGD and TECS.
Loading charts...
Drawdown Indicators
| FNGD | TECS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -78.66% | +12.74% |
Max Drawdown (3Y)Largest decline over 3 years | -97.35% | -96.22% | -1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | -98.82% | -0.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -87.30% | -96.76% | +9.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.15% | 43.87% | -9.72% |
Volatility
FNGD vs. TECS - Volatility Comparison
The current volatility for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) is 33.07%, while Direxion Daily Technology Bear 3X Shares (TECS) has a volatility of 36.37%. This indicates that FNGD experiences smaller price fluctuations and is considered to be less risky than TECS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FNGD | TECS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.07% | 36.37% | -3.30% |
Volatility (6M)Calculated over the trailing 6-month period | 53.22% | 58.81% | -5.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.50% | 70.17% | -4.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.67% | 75.65% | +14.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.30% | 72.84% | +18.46% |
FNGD vs. TECS - Expense Ratio Comparison
FNGD has a 0.95% expense ratio, which is lower than TECS's 1.08% expense ratio.
Dividends
FNGD vs. TECS - Dividend Comparison
FNGD has not paid dividends to shareholders, while TECS's dividend yield for the trailing twelve months is around 9.75%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECS Direxion Daily Technology Bear 3X Shares | 9.75% | 5.83% | 5.24% | 7.52% | 0.00% | 0.00% | 1.50% | 2.40% | 0.72% |
Frequently Asked Questions
FNGD and TECS have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (36.37%) compared to FNGD (33.07%). In terms of maximum drawdown, FNGD dropped -100.00% vs TECS's -100.00%.
On 5-year performance, TECS leads with -57.09% vs -62.47% for FNGD. On fees, FNGD is cheaper at 0.95% per year. On volatility, FNGD has been the lower-risk option at 33.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TECS has performed better with a -57.09% return vs -62.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGD is cheaper with a 0.95% expense ratio, compared with 1.08% for TECS.
TECS has the higher dividend yield at 9.75%, compared with 0.00% for FNGD.
FNGD tracks NYSE FANG+ Index (-300%), while TECS tracks Technology Select Sector Index (-300%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for FNGD and 1.08% for TECS.
FNGD currently has the higher Sharpe Ratio (-0.76 vs -1.10), 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.
Find the right allocation for FNGD and TECS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer