IXN vs. TECL

Last updated Jun 4, 2026

IXN (iShares Global Tech ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - IXN is a Technology Equities fund tracking the S&P Global Information Technology Sector Index, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, IXN returned 25.57%/yr vs 54.49%/yr for TECL. With a 0.98 correlation, they move nearly in lockstep. IXN charges 0.46%/yr vs 0.91%/yr for TECL.

Performance

IXN vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Tech ETF (IXN) 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, IXN achieves a 41.18% return, which is significantly lower than TECL's 125.87% return. Over the past 10 years, IXN has underperformed TECL with an annualized return of 25.57%, while TECL has yielded a comparatively higher 54.49% annualized return.

IXN

• 1D: -1.00%
• 1M: 21.36%
• YTD: 41.18%
• 6M: 41.72%
• 1Y: 74.57%
• 3Y*: 36.05%
• 5Y*: 23.25%
• 10Y*: 25.57%

TECL

• 1D: -2.99%
• 1M: 73.10%
• YTD: 125.87%
• 6M: 118.69%
• 1Y: 267.85%
• 3Y*: 80.64%
• 5Y*: 43.44%
• 10Y*: 54.49%

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

IXN vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IXN iShares Global Tech ETF	41.18%	25.25%	24.84%	52.98%	-29.86%	29.58%	43.62%	47.88%	-5.44%	41.23%
TECL Direxion Daily Technology Bull 3X Shares	125.87%	38.60%	36.15%	203.14%	-74.32%	112.80%	69.46%	185.58%	-24.03%	124.82%

Correlation

The correlation between IXN and TECL is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Dec 31, 2008	0.98

The correlation between IXN and TECL has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

IXN vs. TECL - Sectors Allocation Comparison

Sectors	IXN	TECL
Technology	99.3%	20.4%
Industrials	0.2%	0.0%
Energy	0.1%	0.0%
Healthcare	0.1%	-
Real Estate	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Utilities	-	-

Return for Risk

IXN vs. TECL — Risk / Return Rank

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

IXN

IXN Risk / Return Rank: 88
IXN Sharpe Ratio Rank: 92
IXN Sortino Ratio Rank: 88
IXN Omega Ratio Rank: 86
IXN Calmar Ratio Rank: 89
IXN Martin Ratio Rank: 86

TECL

TECL Risk / Return Rank: 85
TECL Sharpe Ratio Rank: 96
TECL Sortino Ratio Rank: 80
TECL Omega Ratio Rank: 79
TECL Calmar Ratio Rank: 90
TECL Martin Ratio Rank: 81

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.

IXN vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Tech ETF (IXN) 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.

	IXN	TECL	Difference
Sharpe ratio: Return per unit of total volatility	3.41	4.35	-0.93
Sortino ratio: Return per unit of downside risk	4.14	3.66	+0.47
Omega ratio: Gain probability vs. loss probability	1.54	1.48	+0.06
Calmar ratio: Return relative to maximum drawdown	5.43	5.79	-0.36
Martin ratio: Return relative to average drawdown	18.73	16.63	+2.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IXN vs. TECL - Sharpe Ratio Comparison

The current IXN Sharpe Ratio is 3.41, which is comparable to the TECL Sharpe Ratio of 4.35. The chart below compares the historical Sharpe Ratios of IXN 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

	IXN	TECL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.41	4.35	-0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.59	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.05	0.76	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.76	-0.22

Drawdowns

IXN vs. TECL - Drawdown Comparison

The maximum IXN drawdown since its inception was -55.67%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for IXN and TECL.

Drawdown Indicators

	IXN	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-55.67%	-77.96%	+22.29%
Max Drawdown (1Y) Largest decline over 1 year	-13.80%	-46.58%	+32.78%
Max Drawdown (3Y) Largest decline over 3 years	-25.55%	-66.58%	+41.03%
Max Drawdown (5Y) Largest decline over 5 years	-36.30%	-77.96%	+41.66%
Max Drawdown (10Y) Largest decline over 10 years	-36.30%	-77.96%	+41.66%
Current Drawdown Current decline from peak	-1.00%	-2.99%	+1.99%
Average Drawdown Average peak-to-trough decline	-11.27%	-18.38%	+7.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	16.19%	-12.20%

Volatility

IXN vs. TECL - Volatility Comparison

The current volatility for iShares Global Tech ETF (IXN) is 7.95%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 20.70%. This indicates that IXN 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

	IXN	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.95%	20.70%	-12.75%
Volatility (6M) Calculated over the trailing 6-month period	17.85%	49.83%	-31.98%
Volatility (1Y) Calculated over the trailing 1-year period	21.98%	62.17%	-40.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.84%	74.09%	-49.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.40%	72.35%	-47.95%

IXN vs. TECL - Expense Ratio Comparison

IXN has a 0.46% expense ratio, which is lower than TECL's 0.91% expense ratio.

Dividends

IXN vs. TECL - Dividend Comparison

IXN's dividend yield for the trailing twelve months is around 0.74%, less than TECL's 3.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IXN iShares Global Tech ETF	0.74%	1.04%	0.43%	0.55%	0.81%	0.58%	0.63%	1.06%	0.94%	0.93%	1.03%	1.12%
TECL Direxion Daily Technology Bull 3X Shares	3.15%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IXN and TECL in my portfolio?

With a correlation of 0.97, IXN 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, IXN or TECL?

TECL has higher volatility (20.70%) compared to IXN (7.95%). In terms of maximum drawdown, IXN dropped -55.67% vs TECL's -77.96%.

Which ETF is better, IXN or TECL?

On 10-year performance, TECL leads with 54.49% vs 25.57% for IXN. On fees, IXN is cheaper at 0.46% per year. On volatility, IXN has been the lower-risk option at 7.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IXN or TECL?

Over the 10-year period, TECL has performed better with a 54.49% return vs 25.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IXN or TECL?

IXN is cheaper with a 0.46% expense ratio, compared with 0.91% for TECL.

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

TECL has the higher dividend yield at 3.15%, compared with 0.74% for IXN.

What is the main difference between IXN and TECL?

IXN is categorized as Technology Equities, while TECL is Leveraged Equities. IXN tracks S&P Global Information Technology Sector Index, while TECL tracks Technology Select Sector Index (300%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.46% for IXN and 0.91% for TECL.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (4.35 vs 3.41), 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.