OASC vs. TNA

Last updated Jun 24, 2026

OASC (OneAscent Enhanced Small and Mid Cap ETF) and TNA (Direxion Daily Small Cap Bull 3X Shares) are both exchange-traded funds - OASC is a Small Cap Blend Equities fund actively managed by Oneascent, while TNA is a Leveraged Equities fund tracking the Russell 2000 Index (300% Daily). OASC is actively managed, while TNA is passively managed. Over the past year, OASC returned 36.21% vs 125.39% for TNA. Their correlation of 0.94 suggests significant overlap in exposure. OASC charges 0.69%/yr vs 1.05%/yr for TNA.

Performance

OASC vs. TNA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OneAscent Enhanced Small and Mid Cap ETF (OASC) and Direxion Daily Small Cap Bull 3X Shares (TNA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OASC achieves a 17.73% return, which is significantly lower than TNA's 56.90% return.

OASC

• 1D: -1.61%
• 1M: 2.64%
• YTD: 17.73%
• 6M: 15.57%
• 1Y: 36.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TNA

• 1D: -3.11%
• 1M: 9.59%
• YTD: 56.90%
• 6M: 45.88%
• 1Y: 125.39%
• 3Y*: 32.32%
• 5Y*: -5.98%
• 10Y*: 9.70%

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

OASC vs. TNA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OASC OneAscent Enhanced Small and Mid Cap ETF	17.73%	8.91%	10.35%
TNA Direxion Daily Small Cap Bull 3X Shares	56.90%	9.82%	12.31%

Correlation

The correlation between OASC and TNA is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024	0.94

The correlation between OASC and TNA has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

OASC vs. TNA - Sectors Allocation Comparison

Sectors	OASC	TNA
Technology	27.2%	19.1%
Financial Services	22.4%	15.3%
Healthcare	12.4%	16.3%
Consumer Cyclical	11.3%	8.0%
Industrials	10.9%	18.0%
Basic Materials	5.4%	4.7%
Energy	3.4%	5.4%
Utilities	2.1%	2.7%
Real Estate	2.1%	5.9%
Consumer Defensive	1.5%	2.3%
Communication Services	1.3%	2.4%

Return for Risk

OASC vs. TNA — Risk / Return Rank

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

OASC

OASC Risk / Return Rank: 74
OASC Sharpe Ratio Rank: 67
OASC Sortino Ratio Rank: 70
OASC Omega Ratio Rank: 60
OASC Calmar Ratio Rank: 88
OASC Martin Ratio Rank: 85

TNA

TNA Risk / Return Rank: 65
TNA Sharpe Ratio Rank: 70
TNA Sortino Ratio Rank: 57
TNA Omega Ratio Rank: 50
TNA Calmar Ratio Rank: 78
TNA Martin Ratio Rank: 71

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.

OASC vs. TNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OneAscent Enhanced Small and Mid Cap ETF (OASC) and Direxion Daily Small Cap Bull 3X Shares (TNA). 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.

	OASC	TNA	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.15	-0.17
Sortino ratio: Return per unit of downside risk	2.85	2.59	+0.26
Omega ratio: Gain probability vs. loss probability	1.33	1.31	+0.03
Calmar ratio: Return relative to maximum drawdown	4.74	3.88	+0.87
Martin ratio: Return relative to average drawdown	15.84	12.72	+3.12

OASC vs. TNA - Sharpe Ratio Comparison

The current OASC Sharpe Ratio is 1.98, which is comparable to the TNA Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of OASC and TNA, 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

OASC vs. TNA - Drawdown Comparison

The maximum OASC drawdown since its inception was -27.00%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for OASC and TNA.

Drawdown Indicators

	OASC	TNA	Difference
Max Drawdown Largest peak-to-trough decline	-27.00%	-88.09%	+61.09%
Max Drawdown (1Y) Largest decline over 1 year	-7.67%	-32.53%	+24.86%
Max Drawdown (3Y) Largest decline over 3 years	—	-65.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-82.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-88.09%	—
Current Drawdown Current decline from peak	-1.61%	-33.64%	+32.03%
Average Drawdown Average peak-to-trough decline	-5.92%	-33.92%	+28.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	9.89%	-7.60%

Volatility

OASC vs. TNA - Volatility Comparison

The current volatility for OneAscent Enhanced Small and Mid Cap ETF (OASC) is 5.67%, while Direxion Daily Small Cap Bull 3X Shares (TNA) has a volatility of 19.82%. This indicates that OASC experiences smaller price fluctuations and is considered to be less risky than TNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OASC	TNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	19.82%	-14.15%
Volatility (6M) Calculated over the trailing 6-month period	12.97%	42.69%	-29.72%
Volatility (1Y) Calculated over the trailing 1-year period	18.41%	58.76%	-40.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.96%	67.57%	-46.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.96%	68.50%	-47.54%

OASC vs. TNA - Expense Ratio Comparison

OASC has a 0.69% expense ratio, which is lower than TNA's 1.05% expense ratio.

Dividends

OASC vs. TNA - Dividend Comparison

OASC's dividend yield for the trailing twelve months is around 0.45%, more than TNA's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
OASC OneAscent Enhanced Small and Mid Cap ETF	0.45%	0.53%	0.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TNA Direxion Daily Small Cap Bull 3X Shares	0.38%	0.78%	0.93%	1.27%	0.31%	0.06%	0.03%	0.44%	0.36%	0.15%

Frequently Asked Questions

Can I hold both OASC and TNA in my portfolio?

With a correlation of 0.93, OASC and TNA 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, OASC or TNA?

TNA has higher volatility (19.82%) compared to OASC (5.67%). In terms of maximum drawdown, OASC dropped -27.00% vs TNA's -88.09%.

Which ETF is better, OASC or TNA?

On 1-year performance, TNA leads with 125.39% vs 36.21% for OASC. On fees, OASC is cheaper at 0.69% per year. On volatility, OASC has been the lower-risk option at 5.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OASC or TNA?

Over the 1-year period, TNA has performed better with a 125.39% return vs 36.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OASC or TNA?

OASC is cheaper with a 0.69% expense ratio, compared with 1.05% for TNA.

Which ETF pays a higher dividend yield, OASC or TNA?

OASC has the higher dividend yield at 0.45%, compared with 0.38% for TNA.

What is the main difference between OASC and TNA?

OASC is categorized as Small Cap Blend Equities, while TNA is Leveraged Equities. They also come from different issuers: Oneascent and Direxion. Their fees differ too: 0.69% for OASC and 1.05% for TNA.

Which has better risk-adjusted returns?

TNA currently has the higher Sharpe Ratio (2.15 vs 1.98), 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.