MUD vs. TECL
MUD (Direxion Daily MU Bear 1X Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - MUD is a Inverse Equities fund actively managed by Direxion, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). MUD is actively managed, while TECL is passively managed. Over the past year, MUD returned -93.46% vs 117.04% for TECL. Their -0.69 correlation means they have often moved in opposite directions in the past. MUD charges 0.97%/yr vs 0.91%/yr for TECL.
Performance
MUD vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, MUD achieves a -80.35% return, which is significantly lower than TECL's 77.71% return.
MUD
- 1D
- -7.66%
- 1M
- -0.79%
- 6M
- -69.73%
- YTD
- -80.35%
- 1Y
- -93.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -80.86%
TECL
- 1D
- 14.98%
- 1M
- 6.72%
- 6M
- 88.27%
- YTD
- 77.71%
- 1Y
- 117.04%
- 3Y*
- 64.24%
- 5Y*
- 28.73%
- 10Y*
- 47.77%
- ALL TIME*
- 48.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $176.35M | $166.22M | $199.88M | |
| $156.89M | $152.83M | $226.69M |
MUD vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MUD Direxion Daily MU Bear 1X Shares | -80.35% | -78.75% | 19.12% |
TECL Direxion Daily Technology Bull 3X Shares | 77.71% | 38.60% | -2.12% |
Correlation
The correlation between MUD and TECL is -0.70, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.70 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024 | -0.69 |
The correlation between MUD and TECL has been stable across timeframes, ranging from -0.70 to -0.69 - a consistent structural relationship.
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Return for Risk
MUD vs. TECL — Risk / Return Rank
MUD
TECL
MUD vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bear 1X Shares (MUD) 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.
| MUD | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.68 | ||
| Sortino ratioReturn per unit of downside risk | -5.59 | ||
| Omega ratioGain probability vs. loss probability | 0.61 | 1.26 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 2.53 | -3.52 |
| Martin ratioReturn relative to average drawdown | -1.32 | 5.97 | -7.28 |
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Drawdowns
MUD vs. TECL - Drawdown Comparison
The maximum MUD drawdown since its inception was -97.03%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for MUD and TECL.
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Drawdown Indicators
| MUD | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.03% | -77.96% | -19.07% |
Max Drawdown (1Y)Largest decline over 1 year | -94.56% | -46.58% | -47.98% |
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 DrawdownCurrent decline from peak | -96.38% | -23.68% | -72.70% |
Average DrawdownAverage peak-to-trough decline | -54.46% | -18.45% | -36.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 71.10% | 19.69% | +51.41% |
Volatility
MUD vs. TECL - Volatility Comparison
Direxion Daily MU Bear 1X Shares (MUD) has a higher volatility of 33.65% compared to Direxion Daily Technology Bull 3X Shares (TECL) at 30.57%. This indicates that MUD'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
| MUD | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.65% | 30.57% | +3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 70.44% | 66.53% | +3.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 81.08% | 77.41% | +3.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.63% | 76.96% | -3.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.63% | 73.75% | -0.12% |
MUD vs. TECL - Expense Ratio Comparison
MUD has a 0.97% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
MUD vs. TECL - Dividend Comparison
MUD's dividend yield for the trailing twelve months is around 12.46%, more than TECL's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MUD Direxion Daily MU Bear 1X Shares | 12.46% | 9.21% | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 4.01% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
MUD and TECL have a correlation of -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUD has higher volatility (33.65%) compared to TECL (30.57%). In terms of maximum drawdown, MUD dropped -97.03% vs TECL's -77.96%.
On 1-year performance, TECL leads with 117.04% vs -93.46% for MUD. On fees, TECL is cheaper at 0.91% per year. On volatility, TECL has been the lower-risk option at 30.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TECL has performed better with a 117.04% return vs -93.46%. 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 0.97% for MUD.
MUD has the higher dividend yield at 12.46%, compared with 4.01% for TECL.
MUD is categorized as Inverse Equities, while TECL is Leveraged Equities. Their fees differ too: 0.97% for MUD and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (1.52 vs -1.15), 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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