MSFD vs. FTEC
MSFD (Direxion Daily MSFT Bear 1X Shares) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - MSFD is a Inverse Equities fund tracking the Microsoft Corporation (-100%), while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 3 years, MSFD returned -3.55%/yr vs 30.58%/yr for FTEC. At a correlation of -0.72, they often move in opposite directions. MSFD charges 1.06%/yr vs 0.08%/yr for FTEC.
Performance
MSFD vs. FTEC - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with MSFD having a 24.19% return and FTEC slightly lower at 23.56%.
MSFD
- 1D
- -3.08%
- 1M
- 9.58%
- YTD
- 24.19%
- 6M
- 25.23%
- 1Y
- 26.45%
- 3Y*
- -3.55%
- 5Y*
- —
- 10Y*
- —
FTEC
- 1D
- -3.70%
- 1M
- 0.35%
- YTD
- 23.56%
- 6M
- 21.69%
- 1Y
- 47.58%
- 3Y*
- 30.58%
- 5Y*
- 19.77%
- 10Y*
- 25.28%
MSFD vs. FTEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSFD Direxion Daily MSFT Bear 1X Shares | 24.19% | -13.36% | -7.86% | -35.90% | 3.88% |
FTEC Fidelity MSCI Information Technology Index ETF | 23.56% | 22.11% | 29.40% | 53.30% | -5.46% |
Correlation
The correlation between MSFD and FTEC is -0.51, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.72 |
Over the past year, the inverse relationship between MSFD and FTEC has weakened: their correlation has moved from -0.72 to -0.51, meaning they move in opposite directions less often than they have historically.
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Return for Risk
MSFD vs. FTEC — Risk / Return Rank
MSFD
FTEC
MSFD vs. FTEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bear 1X Shares (MSFD) and Fidelity MSCI Information Technology Index ETF (FTEC). 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.
| MSFD | FTEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.35 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 2.94 | -1.80 |
| Martin ratioReturn relative to average drawdown | 3.69 | 9.03 | -5.34 |
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Drawdowns
MSFD vs. FTEC - Drawdown Comparison
The maximum MSFD drawdown since its inception was -59.90%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for MSFD and FTEC.
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Drawdown Indicators
| MSFD | FTEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.90% | -34.95% | -24.95% |
Max Drawdown (1Y)Largest decline over 1 year | -23.25% | -16.26% | -6.99% |
Max Drawdown (3Y)Largest decline over 3 years | -40.50% | -27.30% | -13.20% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.95% | — |
Current DrawdownCurrent decline from peak | -43.99% | -7.72% | -36.27% |
Average DrawdownAverage peak-to-trough decline | -41.61% | -5.57% | -36.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.35% | 5.28% | +2.07% |
Volatility
MSFD vs. FTEC - Volatility Comparison
Direxion Daily MSFT Bear 1X Shares (MSFD) and Fidelity MSCI Information Technology Index ETF (FTEC) have volatilities of 11.74% and 11.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFD | FTEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.74% | 11.42% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 22.81% | 18.65% | +4.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.33% | 22.79% | +3.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.27% | 25.60% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.27% | 24.86% | +1.41% |
MSFD vs. FTEC - Expense Ratio Comparison
MSFD has a 1.06% expense ratio, which is higher than FTEC's 0.08% expense ratio.
Dividends
MSFD vs. FTEC - Dividend Comparison
MSFD's dividend yield for the trailing twelve months is around 2.52%, more than FTEC's 0.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTEC Fidelity MSCI Information Technology Index ETF | 0.36% | 0.43% | 0.49% | 0.77% | 0.93% | 0.63% | 0.83% | 1.03% | 1.20% | 0.96% | 1.25% | 1.27% |
MSFD Direxion Daily MSFT Bear 1X Shares | 2.52% | 3.33% | 4.46% | 4.43% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSFD and FTEC have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFD has higher volatility (11.74%) compared to FTEC (11.42%). In terms of maximum drawdown, MSFD dropped -59.90% vs FTEC's -34.95%.
On 3-year performance, FTEC leads with 30.58% vs -3.55% for MSFD. On fees, FTEC is cheaper at 0.08% per year. On volatility, FTEC has been the lower-risk option at 11.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FTEC has performed better with a 30.58% return vs -3.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTEC is cheaper with a 0.08% expense ratio, compared with 1.06% for MSFD.
MSFD has the higher dividend yield at 2.52%, compared with 0.36% for FTEC.
MSFD is categorized as Inverse Equities, while FTEC is Technology Equities. MSFD tracks Microsoft Corporation (-100%), while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: Direxion and Fidelity. Their fees differ too: 1.06% for MSFD and 0.08% for FTEC.
FTEC currently has the higher Sharpe Ratio (2.10 vs 1.01), 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.
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