MSFU vs. TECL
MSFU (Direxion Daily MSFT Bull 2X Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds from Direxion - MSFU tracks the Microsoft Corporation (200%) while TECL tracks the Technology Select Sector Index (300%). Both are passively managed. Over the past 3 years, MSFU returned 3.90%/yr vs 47.81%/yr for TECL. Their 0.68 correlation means they have sometimes moved together and sometimes differently. MSFU charges 0.98%/yr vs 0.91%/yr for TECL.
Performance
MSFU vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, MSFU achieves a -18.87% return, which is significantly lower than TECL's 48.00% return.
MSFU
- 1D
- 5.90%
- 1M
- 37.88%
- 6M
- 4.85%
- YTD
- -18.87%
- 1Y
- -34.49%
- 3Y*
- 3.90%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.80%
TECL
- 1D
- -0.52%
- 1M
- -11.12%
- 6M
- 50.64%
- YTD
- 48.00%
- 1Y
- 91.25%
- 3Y*
- 47.81%
- 5Y*
- 24.87%
- 10Y*
- 45.88%
- ALL TIME*
- 46.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $236.35M | $210.49M | $216.20M | |
| $140.43M | $155.29M | $226.00M |
MSFU vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSFU Direxion Daily MSFT Bull 2X Shares | -18.87% | 13.36% | 5.80% | 83.04% | -13.28% |
TECL Direxion Daily Technology Bull 3X Shares | 48.00% | 38.60% | 36.15% | 203.14% | -26.13% |
Correlation
The correlation between MSFU and TECL is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | 0.68 |
Over the past year, the correlation between MSFU and TECL has dropped to 0.37 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
MSFU vs. TECL - Sectors Allocation Comparison
Sectors
MSFU
TECL
Technology
Basic Materials
-
-
Communication Services
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Financial Services
-
-
Healthcare
-
-
Industrials
-
Real Estate
-
-
Utilities
-
-
Technology
MSFU
TECL
Basic Materials
MSFU
-
TECL
-
Communication Services
MSFU
-
TECL
Consumer Cyclical
MSFU
-
TECL
-
Consumer Defensive
MSFU
-
TECL
-
Energy
MSFU
-
TECL
Financial Services
MSFU
-
TECL
-
Healthcare
MSFU
-
TECL
-
Industrials
MSFU
-
TECL
Real Estate
MSFU
-
TECL
-
Utilities
MSFU
-
TECL
-
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Return for Risk
MSFU vs. TECL — Risk / Return Rank
MSFU
TECL
MSFU vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bull 2X Shares (MSFU) 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.
| MSFU | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.21 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 1.71 | -2.30 |
| Martin ratioReturn relative to average drawdown | -0.98 | 4.07 | -5.05 |
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Drawdowns
MSFU vs. TECL - Drawdown Comparison
The maximum MSFU drawdown since its inception was -62.43%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for MSFU and TECL.
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Drawdown Indicators
| MSFU | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.43% | -77.96% | +15.53% |
Max Drawdown (1Y)Largest decline over 1 year | -62.43% | -46.58% | -15.85% |
Max Drawdown (3Y)Largest decline over 3 years | -62.43% | -66.58% | +4.15% |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.96% | — |
Current DrawdownCurrent decline from peak | -37.20% | -36.44% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -18.02% | -18.45% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.69% | 19.52% | +18.17% |
Volatility
MSFU vs. TECL - Volatility Comparison
Direxion Daily MSFT Bull 2X Shares (MSFU) has a higher volatility of 29.64% compared to Direxion Daily Technology Bull 3X Shares (TECL) at 28.17%. This indicates that MSFU'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.
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Volatility by Period
| MSFU | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.64% | 28.17% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 51.29% | 65.35% | -14.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.22% | 76.26% | -13.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.57% | 76.62% | -27.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.57% | 73.57% | -24.00% |
MSFU vs. TECL - Expense Ratio Comparison
MSFU has a 0.98% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
MSFU vs. TECL - Dividend Comparison
MSFU's dividend yield for the trailing twelve months is around 9.13%, more than TECL's 4.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MSFU Direxion Daily MSFT Bull 2X Shares | 9.13% | 8.15% | 7.00% | 2.11% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 4.81% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
MSFU and TECL have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFU has higher volatility (29.64%) compared to TECL (28.17%). In terms of maximum drawdown, MSFU dropped -62.43% vs TECL's -77.96%.
On 3-year performance, TECL leads with 47.81% vs 3.90% for MSFU. On fees, TECL is cheaper at 0.91% per year. On volatility, TECL has been the lower-risk option at 28.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TECL has performed better with a 47.81% return vs 3.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECL is cheaper with a 0.91% expense ratio, compared with 0.98% for MSFU.
MSFU has the higher dividend yield at 9.13%, compared with 4.81% for TECL.
MSFU tracks Microsoft Corporation (200%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 0.98% for MSFU and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (1.05 vs -0.59), 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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