INTW vs. TECL

Last updated Aug 4, 2026

INTW (GraniteShares 2x Long INTC Daily ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds. INTW is actively managed, while TECL is passively managed. Over the past year, INTW returned 1006.96% vs 99.73% for TECL. Their 0.54 correlation means they have sometimes moved together and sometimes differently. INTW charges 1.50%/yr vs 0.91%/yr for TECL.

Performance

INTW vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long INTC Daily ETF (INTW) 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, INTW achieves a 265.05% return, which is significantly higher than TECL's 54.56% return.

INTW

• 1D: 1.44%
• 1M: -46.93%
• 6M: 132.81%
• YTD: 265.05%
• 1Y: 1,006.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 234.15%

TECL

• 1D: 4.43%
• 1M: -7.18%
• 6M: 53.20%
• YTD: 54.56%
• 1Y: 99.73%
• 3Y*: 56.77%
• 5Y*: 25.61%
• 10Y*: 45.72%
• ALL TIME*: 46.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
INTW GraniteShares 2x Long INTC Daily ETF	$147.89M	$130.41M	$215.01M
TECL Direxion Daily Technology Bull 3X Shares	$142.34M	$148.61M	$225.94M

INTW vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025
INTW GraniteShares 2x Long INTC Daily ETF	265.05%	60.89%
TECL Direxion Daily Technology Bull 3X Shares	54.56%	37.55%

Correlation

The correlation between INTW and TECL is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.54

The correlation between INTW and TECL has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.

INTW vs. TECL - Sectors Allocation Comparison

Sectors	INTW	TECL
Technology	66.6%	99.2%
Basic Materials	-	-
Communication Services	-	0.8%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.0%
Real Estate	-	-
Utilities	-	-

Return for Risk

INTW vs. TECL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

INTW

INTW Risk / Return Rank: 97
INTW Sharpe Ratio Rank: 99
INTW Sortino Ratio Rank: 95
INTW Omega Ratio Rank: 94
INTW Calmar Ratio Rank: 99
INTW Martin Ratio Rank: 98

TECL

TECL Risk / Return Rank: 52
TECL Sharpe Ratio Rank: 53
TECL Sortino Ratio Rank: 52
TECL Omega Ratio Rank: 51
TECL Calmar Ratio Rank: 60
TECL Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INTW vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long INTC Daily ETF (INTW) 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.

	INTW	TECL	Difference
Sharpe ratio: Return per unit of total volatility	6.48	1.32	+5.16
Sortino ratio: Return per unit of downside risk	4.09	1.87	+2.22
Omega ratio: Gain probability vs. loss probability	1.50	1.24	+0.26
Calmar ratio: Return relative to maximum drawdown	14.71	2.15	+12.56
Martin ratio: Return relative to average drawdown	39.28	5.10	+34.19

INTW vs. TECL - Sharpe Ratio Comparison

The current INTW Sharpe Ratio is 6.48, which is higher than the TECL Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of INTW 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.

Drawdowns

INTW vs. TECL - Drawdown Comparison

The maximum INTW drawdown since its inception was -69.16%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for INTW and TECL.

Drawdown Indicators

	INTW	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-69.16%	-77.96%	+8.80%
Max Drawdown (1Y) Largest decline over 1 year	-69.16%	-46.58%	-22.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-66.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.96%	—
Current Drawdown Current decline from peak	-62.43%	-33.62%	-28.81%
Average Drawdown Average peak-to-trough decline	-30.68%	-18.45%	-12.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.85%	19.63%	+6.22%

Volatility

INTW vs. TECL - Volatility Comparison

GraniteShares 2x Long INTC Daily ETF (INTW) has a higher volatility of 47.63% compared to Direxion Daily Technology Bull 3X Shares (TECL) at 27.41%. This indicates that INTW's price experiences larger fluctuations and is considered to be riskier than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INTW	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	47.63%	27.41%	+20.22%
Volatility (6M) Calculated over the trailing 6-month period	116.67%	65.16%	+51.51%
Volatility (1Y) Calculated over the trailing 1-year period	157.41%	76.18%	+81.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	150.45%	76.67%	+73.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	150.45%	73.61%	+76.84%

INTW vs. TECL - Expense Ratio Comparison

INTW has a 1.50% expense ratio, which is higher than TECL's 0.91% expense ratio.

Dividends

INTW vs. TECL - Dividend Comparison

INTW has not paid dividends to shareholders, while TECL's dividend yield for the trailing twelve months is around 4.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
INTW GraniteShares 2x Long INTC Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TECL Direxion Daily Technology Bull 3X Shares	4.61%	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 INTW and TECL in my portfolio?

INTW and TECL have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INTW or TECL?

INTW has higher volatility (47.63%) compared to TECL (27.41%). In terms of maximum drawdown, INTW dropped -69.16% vs TECL's -77.96%.

Which ETF is better, INTW or TECL?

On 1-year performance, INTW leads with 1006.96% vs 99.73% for TECL. On fees, TECL is cheaper at 0.91% per year. On volatility, TECL has been the lower-risk option at 27.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INTW or TECL?

Over the 1-year period, INTW has performed better with a 1006.96% return vs 99.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INTW or TECL?

TECL is cheaper with a 0.91% expense ratio, compared with 1.50% for INTW.

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

TECL has the higher dividend yield at 4.61%, compared with 0.00% for INTW.

What is the main difference between INTW and TECL?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for INTW and 0.91% for TECL.

Which has better risk-adjusted returns?

INTW currently has the higher Sharpe Ratio (6.48 vs 1.32), 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.