OSCV vs. TNA

Last updated Aug 2, 2026

OSCV (Opus Small Cap Value Plus ETF) and TNA (Direxion Daily Small Cap Bull 3X Shares) are both exchange-traded funds - OSCV is a Small Cap Blend Equities fund actively managed by Aptus, while TNA is a Leveraged Equities fund tracking the Russell 2000 Index (300% Daily). OSCV is actively managed, while TNA is passively managed. Over the past 5 years, OSCV returned 6.85%/yr vs -4.05%/yr for TNA. Their correlation of 0.89 means they have usually moved in the same direction. OSCV charges 0.79%/yr vs 1.05%/yr for TNA.

Performance

OSCV vs. TNA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Opus Small Cap Value Plus ETF (OSCV) 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, OSCV achieves a 15.37% return, which is significantly lower than TNA's 48.69% return.

OSCV

• 1D: 0.09%
• 1M: 0.78%
• 6M: 9.38%
• YTD: 15.37%
• 1Y: 19.59%
• 3Y*: 10.19%
• 5Y*: 6.85%
• 10Y*: —
• ALL TIME*: 8.18%

TNA

• 1D: -1.37%
• 1M: -7.22%
• 6M: 28.70%
• YTD: 48.69%
• 1Y: 108.54%
• 3Y*: 19.19%
• 5Y*: -4.05%
• 10Y*: 7.13%
• ALL TIME*: 14.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OSCV Opus Small Cap Value Plus ETF	$3.38M	$3.12M	$2.35M
TNA Direxion Daily Small Cap Bull 3X Shares	$284.85M	$300.19M	$411.47M

OSCV vs. TNA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
OSCV Opus Small Cap Value Plus ETF	15.37%	1.35%	11.66%	10.14%	-11.41%	27.69%	4.94%	27.51%	-13.57%
TNA Direxion Daily Small Cap Bull 3X Shares	48.69%	9.82%	7.21%	26.24%	-62.48%	27.88%	-7.82%	71.88%	-52.35%

Correlation

The correlation between OSCV and TNA is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (All Time) Calculated using the full available price history since Jul 18, 2018	0.89

The correlation between OSCV and TNA shifts across timeframes, from 0.73 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

OSCV vs. TNA - Sectors Allocation Comparison

Sectors	OSCV	TNA
Financial Services	28.6%	17.5%
Industrials	12.6%	14.2%
Energy	11.4%	5.5%
Consumer Cyclical	10.6%	9.2%
Real Estate	10.1%	6.6%
Healthcare	8.0%	20.3%
Basic Materials	6.0%	4.4%
Utilities	3.2%	2.7%
Technology	3.2%	14.8%
Consumer Defensive	2.3%	2.6%
Communication Services	-	2.2%

Return for Risk

OSCV vs. TNA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OSCV

OSCV Risk / Return Rank: 60
OSCV Sharpe Ratio Rank: 57
OSCV Sortino Ratio Rank: 64
OSCV Omega Ratio Rank: 54
OSCV Calmar Ratio Rank: 67
OSCV Martin Ratio Rank: 58

TNA

TNA Risk / Return Rank: 72
TNA Sharpe Ratio Rank: 74
TNA Sortino Ratio Rank: 69
TNA Omega Ratio Rank: 62
TNA Calmar Ratio Rank: 81
TNA Martin Ratio Rank: 77

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OSCV vs. TNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Opus Small Cap Value Plus ETF (OSCV) 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.

	OSCV	TNA	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.66	-0.29
Sortino ratio: Return per unit of downside risk	2.15	2.23	-0.09
Omega ratio: Gain probability vs. loss probability	1.24	1.26	-0.02
Calmar ratio: Return relative to maximum drawdown	2.36	2.95	-0.59
Martin ratio: Return relative to average drawdown	6.92	9.70	-2.78

OSCV vs. TNA - Sharpe Ratio Comparison

The current OSCV Sharpe Ratio is 1.37, which is comparable to the TNA Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of OSCV 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

OSCV vs. TNA - Drawdown Comparison

The maximum OSCV drawdown since its inception was -42.40%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for OSCV and TNA.

Drawdown Indicators

	OSCV	TNA	Difference
Max Drawdown Largest peak-to-trough decline	-42.40%	-88.09%	+45.69%
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	-32.53%	+24.98%
Max Drawdown (3Y) Largest decline over 3 years	-22.92%	-65.78%	+42.86%
Max Drawdown (5Y) Largest decline over 5 years	-22.92%	-82.36%	+59.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-88.09%	—
Current Drawdown Current decline from peak	-0.63%	-37.12%	+36.49%
Average Drawdown Average peak-to-trough decline	-7.47%	-33.92%	+26.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	9.90%	-7.33%

Volatility

OSCV vs. TNA - Volatility Comparison

The current volatility for Opus Small Cap Value Plus ETF (OSCV) is 3.02%, while Direxion Daily Small Cap Bull 3X Shares (TNA) has a volatility of 11.41%. This indicates that OSCV 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

	OSCV	TNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	11.41%	-8.39%
Volatility (6M) Calculated over the trailing 6-month period	9.10%	42.11%	-33.01%
Volatility (1Y) Calculated over the trailing 1-year period	13.02%	57.87%	-44.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	67.19%	-50.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.74%	68.35%	-47.61%

OSCV vs. TNA - Expense Ratio Comparison

OSCV has a 0.79% expense ratio, which is lower than TNA's 1.05% expense ratio.

Dividends

OSCV vs. TNA - Dividend Comparison

OSCV's dividend yield for the trailing twelve months is around 1.05%, more than TNA's 0.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
OSCV Opus Small Cap Value Plus ETF	1.05%	1.23%	1.29%	1.55%	1.12%	1.06%	1.11%	1.75%	0.25%	0.00%
TNA Direxion Daily Small Cap Bull 3X Shares	0.31%	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 OSCV and TNA in my portfolio?

OSCV and TNA have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OSCV or TNA?

TNA has higher volatility (11.41%) compared to OSCV (3.02%). In terms of maximum drawdown, OSCV dropped -42.40% vs TNA's -88.09%.

Which ETF is better, OSCV or TNA?

On 5-year performance, OSCV leads with 6.85% vs -4.05% for TNA. On fees, OSCV is cheaper at 0.79% per year. On volatility, OSCV has been the lower-risk option at 3.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OSCV or TNA?

Over the 5-year period, OSCV has performed better with a 6.85% return vs -4.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OSCV or TNA?

OSCV is cheaper with a 0.79% expense ratio, compared with 1.05% for TNA.

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

OSCV has the higher dividend yield at 1.05%, compared with 0.31% for TNA.

What is the main difference between OSCV and TNA?

OSCV is categorized as Small Cap Blend Equities, while TNA is Leveraged Equities. They also come from different issuers: Aptus and Direxion. Their fees differ too: 0.79% for OSCV and 1.05% for TNA.

Which has better risk-adjusted returns?

TNA currently has the higher Sharpe Ratio (1.66 vs 1.37), 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.