ORCS vs. TECL
ORCS (Direxion Daily ORCL Bear 1X ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - ORCS is a Inverse Equities fund actively managed by Direxion, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). ORCS is actively managed, while TECL is passively managed. Their -0.58 correlation means they have often moved in opposite directions in the past. ORCS charges 0.97%/yr vs 0.91%/yr for TECL.
Performance
ORCS vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, ORCS achieves a 24.72% return, which is significantly lower than TECL's 48.00% return.
ORCS
- 1D
- -1.91%
- 1M
- 4.83%
- 6M
- 6.73%
- YTD
- 24.72%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
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) |
|---|---|---|---|
| $1.74M | $2.55M | $2.74M | |
| $140.43M | $155.29M | $226.00M |
ORCS vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 24.72% | 11.07% |
TECL Direxion Daily Technology Bull 3X Shares | 48.00% | 7.50% |
Correlation
The correlation between ORCS and TECL is -0.58, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | -0.58 |
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Return for Risk
ORCS vs. TECL — Risk / Return Rank
ORCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TECL
ORCS vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily ORCL Bear 1X ETF (ORCS) 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.
| ORCS | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.21 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.71 | — |
| Martin ratioReturn relative to average drawdown | — | 4.07 | — |
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Drawdowns
ORCS vs. TECL - Drawdown Comparison
The maximum ORCS drawdown since its inception was -50.25%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for ORCS and TECL.
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Drawdown Indicators
| ORCS | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.25% | -77.96% | +27.71% |
Max Drawdown (1Y)Largest decline over 1 year | — | -46.58% | — |
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 | -12.34% | -36.44% | +24.10% |
Average DrawdownAverage peak-to-trough decline | -15.58% | -18.45% | +2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 19.52% | — |
Volatility
ORCS vs. TECL - Volatility Comparison
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Volatility by Period
| ORCS | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 28.17% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 65.35% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 60.28% | 76.26% | -15.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.28% | 76.62% | -16.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.28% | 73.57% | -13.29% |
ORCS vs. TECL - Expense Ratio Comparison
ORCS has a 0.97% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
ORCS vs. TECL - Dividend Comparison
ORCS's dividend yield for the trailing twelve months is around 1.15%, less than TECL's 4.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 1.15% | 0.26% | 0.00% | 0.00% | 0.00% | 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
ORCS and TECL have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TECL is cheaper at 0.91% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TECL is cheaper with a 0.91% expense ratio, compared with 0.97% for ORCS.
TECL has the higher dividend yield at 4.81%, compared with 1.15% for ORCS.
ORCS is categorized as Inverse Equities, while TECL is Leveraged Equities. Their fees differ too: 0.97% for ORCS and 0.91% for TECL.
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