IETC vs. TECL

Last updated Jun 5, 2026

IETC (iShares Evolved U.S. Technology ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - IETC is a Technology Equities fund actively managed by iShares, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). IETC is actively managed, while TECL is passively managed. Over the past 5 years, IETC returned 17.84%/yr vs 42.11%/yr for TECL. Their correlation of 0.95 suggests significant overlap in exposure. IETC charges 0.18%/yr vs 0.91%/yr for TECL.

Performance

IETC vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Evolved U.S. Technology ETF (IETC) and Direxion Daily Technology Bull 3X Shares (TECL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IETC achieves a 12.03% return, which is significantly lower than TECL's 115.57% return.

IETC

• 1D: -1.63%
• 1M: 9.01%
• YTD: 12.03%
• 6M: 10.27%
• 1Y: 27.98%
• 3Y*: 29.91%
• 5Y*: 17.84%
• 10Y*: —

TECL

• 1D: -4.56%
• 1M: 55.10%
• YTD: 115.57%
• 6M: 106.65%
• 1Y: 249.35%
• 3Y*: 78.93%
• 5Y*: 42.11%
• 10Y*: 53.62%

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

IETC vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IETC iShares Evolved U.S. Technology ETF	12.03%	19.56%	37.57%	54.35%	-32.78%	29.73%	46.59%	43.09%	-3.52%
TECL Direxion Daily Technology Bull 3X Shares	115.57%	38.60%	36.15%	203.14%	-74.32%	112.80%	69.46%	185.58%	-22.34%

Correlation

The correlation between IETC and TECL is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018	0.95

The correlation between IETC and TECL has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

IETC vs. TECL - Sectors Allocation Comparison

Sectors	IETC	TECL
Technology	79.1%	20.4%
Communication Services	8.4%	-
Consumer Cyclical	4.7%	-
Industrials	3.7%	0.0%
Financial Services	3.1%	-
Real Estate	0.7%	-
Healthcare	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Utilities	-	-

Return for Risk

IETC vs. TECL — Risk / Return Rank

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

IETC

IETC Risk / Return Rank: 33
IETC Sharpe Ratio Rank: 38
IETC Sortino Ratio Rank: 36
IETC Omega Ratio Rank: 36
IETC Calmar Ratio Rank: 28
IETC Martin Ratio Rank: 27

TECL

TECL Risk / Return Rank: 84
TECL Sharpe Ratio Rank: 96
TECL Sortino Ratio Rank: 79
TECL Omega Ratio Rank: 78
TECL Calmar Ratio Rank: 89
TECL Martin Ratio Rank: 80

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.

IETC vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Evolved U.S. Technology ETF (IETC) 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.

	IETC	TECL	Difference
Sharpe ratio: Return per unit of total volatility	1.33	4.03	-2.70
Sortino ratio: Return per unit of downside risk	1.84	3.52	-1.68
Omega ratio: Gain probability vs. loss probability	1.23	1.46	-0.23
Calmar ratio: Return relative to maximum drawdown	1.33	5.39	-4.06
Martin ratio: Return relative to average drawdown	3.73	15.48	-11.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IETC vs. TECL - Sharpe Ratio Comparison

The current IETC Sharpe Ratio is 1.33, which is lower than the TECL Sharpe Ratio of 4.03. The chart below compares the historical Sharpe Ratios of IETC and TECL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IETC	TECL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	4.03	-2.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.57	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.76	+0.10

Drawdowns

IETC vs. TECL - Drawdown Comparison

The maximum IETC drawdown since its inception was -38.48%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for IETC and TECL.

Drawdown Indicators

	IETC	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-38.48%	-77.96%	+39.48%
Max Drawdown (1Y) Largest decline over 1 year	-21.19%	-46.58%	+25.39%
Max Drawdown (3Y) Largest decline over 3 years	-25.17%	-66.58%	+41.41%
Max Drawdown (5Y) Largest decline over 5 years	-38.48%	-77.96%	+39.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-77.96%	—
Current Drawdown Current decline from peak	-3.84%	-7.42%	+3.58%
Average Drawdown Average peak-to-trough decline	-8.13%	-18.38%	+10.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.51%	16.19%	-8.68%

Volatility

IETC vs. TECL - Volatility Comparison

The current volatility for iShares Evolved U.S. Technology ETF (IETC) is 6.78%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 21.53%. This indicates that IETC 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.

Volatility by Period

	IETC	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.78%	21.53%	-14.75%
Volatility (6M) Calculated over the trailing 6-month period	16.57%	50.05%	-33.48%
Volatility (1Y) Calculated over the trailing 1-year period	21.09%	62.27%	-41.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.53%	74.08%	-49.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	72.35%	-46.97%

IETC vs. TECL - Expense Ratio Comparison

IETC has a 0.18% expense ratio, which is lower than TECL's 0.91% expense ratio.

Dividends

IETC vs. TECL - Dividend Comparison

IETC's dividend yield for the trailing twelve months is around 0.35%, less than TECL's 3.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IETC iShares Evolved U.S. Technology ETF	0.35%	0.38%	0.52%	0.79%	0.92%	0.73%	0.48%	0.95%	1.27%	0.00%
TECL Direxion Daily Technology Bull 3X Shares	3.30%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%

Frequently Asked Questions

Can I hold both IETC and TECL in my portfolio?

With a correlation of 0.91, IETC and TECL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IETC or TECL?

TECL has higher volatility (21.53%) compared to IETC (6.78%). In terms of maximum drawdown, IETC dropped -38.48% vs TECL's -77.96%.

Which ETF is better, IETC or TECL?

On 5-year performance, TECL leads with 42.11% vs 17.84% for IETC. On fees, IETC is cheaper at 0.18% per year. On volatility, IETC has been the lower-risk option at 6.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IETC or TECL?

Over the 5-year period, TECL has performed better with a 42.11% return vs 17.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IETC or TECL?

IETC is cheaper with a 0.18% expense ratio, compared with 0.91% for TECL.

Which ETF pays a higher dividend yield, IETC or TECL?

TECL has the higher dividend yield at 3.30%, compared with 0.35% for IETC.

What is the main difference between IETC and TECL?

IETC is categorized as Technology Equities, while TECL is Leveraged Equities. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.18% for IETC and 0.91% for TECL.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (4.03 vs 1.33), 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.