PSC vs. TNA

Last updated Jun 21, 2026

PSC (Principal U.S. Small Cap Multi-Factor ETF) and TNA (Direxion Daily Small Cap Bull 3X Shares) are both exchange-traded funds - PSC is a Small Cap Blend Equities fund tracking the Nasdaq US Small Cap Select Leaders TR Index, while TNA is a Leveraged Equities fund tracking the Russell 2000 Index (300% Daily). Both are passively managed. Over the past 5 years, PSC returned 9.67%/yr vs -3.46%/yr for TNA. Their correlation of 0.87 suggests significant overlap in exposure. PSC charges 0.38%/yr vs 1.05%/yr for TNA.

Performance

PSC vs. TNA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal U.S. Small Cap Multi-Factor ETF (PSC) 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, PSC achieves a 17.82% return, which is significantly lower than TNA's 57.67% return.

PSC

• 1D: 1.61%
• 1M: 6.17%
• YTD: 17.82%
• 6M: 15.75%
• 1Y: 32.70%
• 3Y*: 18.63%
• 5Y*: 9.67%
• 10Y*: —

TNA

• 1D: 5.81%
• 1M: 13.02%
• YTD: 57.67%
• 6M: 48.66%
• 1Y: 134.58%
• 3Y*: 28.48%
• 5Y*: -3.46%
• 10Y*: 8.86%

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

PSC vs. TNA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSC Principal U.S. Small Cap Multi-Factor ETF	17.82%	13.41%	12.38%	18.51%	-15.91%	32.56%	13.30%	18.99%	-11.35%	15.93%
TNA Direxion Daily Small Cap Bull 3X Shares	57.67%	9.82%	7.21%	26.24%	-62.48%	27.88%	-7.82%	71.88%	-39.89%	39.15%

Correlation

The correlation between PSC and TNA is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016	0.87

The correlation between PSC and TNA has been stable across timeframes, ranging from 0.87 to 0.96 - a consistent structural relationship.

PSC vs. TNA - Sectors Allocation Comparison

Sectors	PSC	TNA
Technology	20.3%	19.1%
Financial Services	17.2%	15.3%
Industrials	16.9%	18.0%
Healthcare	15.8%	16.3%
Consumer Cyclical	8.2%	8.0%
Energy	5.6%	5.4%
Real Estate	4.5%	5.9%
Basic Materials	4.2%	4.7%
Utilities	2.7%	2.7%
Communication Services	2.3%	2.4%
Consumer Defensive	2.2%	2.3%

Return for Risk

PSC vs. TNA — Risk / Return Rank

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

PSC

PSC Risk / Return Rank: 57
PSC Sharpe Ratio Rank: 52
PSC Sortino Ratio Rank: 53
PSC Omega Ratio Rank: 47
PSC Calmar Ratio Rank: 68
PSC Martin Ratio Rank: 65

TNA

TNA Risk / Return Rank: 69
TNA Sharpe Ratio Rank: 76
TNA Sortino Ratio Rank: 60
TNA Omega Ratio Rank: 53
TNA Calmar Ratio Rank: 82
TNA Martin Ratio Rank: 75

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.

PSC vs. TNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal U.S. Small Cap Multi-Factor ETF (PSC) 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.

	PSC	TNA	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.28	-0.56
Sortino ratio: Return per unit of downside risk	2.45	2.68	-0.23
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	3.27	4.11	-0.84
Martin ratio: Return relative to average drawdown	11.42	13.50	-2.08

PSC vs. TNA - Sharpe Ratio Comparison

The current PSC Sharpe Ratio is 1.72, which is comparable to the TNA Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of PSC 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

PSC vs. TNA - Drawdown Comparison

The maximum PSC drawdown since its inception was -46.69%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for PSC and TNA.

Drawdown Indicators

	PSC	TNA	Difference
Max Drawdown Largest peak-to-trough decline	-46.69%	-88.09%	+41.40%
Max Drawdown (1Y) Largest decline over 1 year	-9.95%	-32.53%	+22.58%
Max Drawdown (3Y) Largest decline over 3 years	-23.49%	-65.78%	+42.29%
Max Drawdown (5Y) Largest decline over 5 years	-25.86%	-82.36%	+56.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-88.09%	—
Current Drawdown Current decline from peak	0.00%	-33.32%	+33.32%
Average Drawdown Average peak-to-trough decline	-8.24%	-33.92%	+25.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	9.89%	-7.04%

Volatility

PSC vs. TNA - Volatility Comparison

The current volatility for Principal U.S. Small Cap Multi-Factor ETF (PSC) is 5.71%, while Direxion Daily Small Cap Bull 3X Shares (TNA) has a volatility of 20.47%. This indicates that PSC 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

	PSC	TNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	20.47%	-14.76%
Volatility (6M) Calculated over the trailing 6-month period	13.36%	42.66%	-29.30%
Volatility (1Y) Calculated over the trailing 1-year period	18.95%	58.63%	-39.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.03%	67.58%	-46.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.29%	68.58%	-45.29%

PSC vs. TNA - Expense Ratio Comparison

PSC has a 0.38% expense ratio, which is lower than TNA's 1.05% expense ratio.

Dividends

PSC vs. TNA - Dividend Comparison

PSC's dividend yield for the trailing twelve months is around 0.57%, more than TNA's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PSC Principal U.S. Small Cap Multi-Factor ETF	0.57%	0.67%	0.75%	0.73%	1.92%	1.45%	1.25%	1.47%	1.30%	0.95%	0.35%
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%	0.00%

Frequently Asked Questions

Can I hold both PSC and TNA in my portfolio?

With a correlation of 0.95, PSC 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, PSC or TNA?

TNA has higher volatility (20.47%) compared to PSC (5.71%). In terms of maximum drawdown, PSC dropped -46.69% vs TNA's -88.09%.

Which ETF is better, PSC or TNA?

On 5-year performance, PSC leads with 9.67% vs -3.46% for TNA. On fees, PSC is cheaper at 0.38% per year. On volatility, PSC has been the lower-risk option at 5.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSC or TNA?

Over the 5-year period, PSC has performed better with a 9.67% return vs -3.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSC or TNA?

PSC is cheaper with a 0.38% expense ratio, compared with 1.05% for TNA.

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

PSC has the higher dividend yield at 0.57%, compared with 0.38% for TNA.

What is the main difference between PSC and TNA?

PSC is categorized as Small Cap Blend Equities, while TNA is Leveraged Equities. PSC tracks Nasdaq US Small Cap Select Leaders TR Index, while TNA tracks Russell 2000 Index (300% Daily). They also come from different issuers: Principal and Direxion. Their fees differ too: 0.38% for PSC and 1.05% for TNA.

Which has better risk-adjusted returns?

TNA currently has the higher Sharpe Ratio (2.28 vs 1.72), 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.