RESM vs. TNA
RESM (Columbia Research Enhanced Small Cap ETF) and TNA (Direxion Daily Small Cap Bull 3X Shares) are both exchange-traded funds - RESM is a Small Cap Blend Equities fund tracking the Beta Advantage Research Enhanced Small Cap Index, while TNA is a Leveraged Equities fund tracking the Russell 2000 Index (300% Daily). Both are passively managed. Their correlation of 0.95 suggests significant overlap in exposure. RESM charges 0.32%/yr vs 1.05%/yr for TNA.
Performance
RESM vs. TNA - Performance Comparison
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Returns By Period
In the year-to-date period, RESM achieves a 21.67% return, which is significantly lower than TNA's 60.25% return.
RESM
- 1D
- -0.58%
- 1M
- 5.32%
- 6M
- 21.06%
- YTD
- 21.67%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TNA
- 1D
- -1.98%
- 1M
- 9.37%
- 6M
- 55.54%
- YTD
- 60.25%
- 1Y
- 98.15%
- 3Y*
- 28.03%
- 5Y*
- -4.89%
- 10Y*
- 9.17%
RESM vs. TNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RESM Columbia Research Enhanced Small Cap ETF | 21.67% | -3.32% |
TNA Direxion Daily Small Cap Bull 3X Shares | 60.25% | -9.66% |
Correlation
The correlation between RESM 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 (All Time) Calculated using the full available price history since Dec 11, 2025 | 0.95 |
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Return for Risk
RESM vs. TNA — Risk / Return Rank
RESM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TNA
RESM vs. TNA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Research Enhanced Small Cap ETF (RESM) 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.
| RESM | TNA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.27 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.19 | — |
| Martin ratioReturn relative to average drawdown | — | 10.46 | — |
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Drawdowns
RESM vs. TNA - Drawdown Comparison
The maximum RESM drawdown since its inception was -8.50%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for RESM and TNA.
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Drawdown Indicators
| RESM | TNA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.50% | -88.09% | +79.59% |
Max Drawdown (1Y)Largest decline over 1 year | — | -32.53% | — |
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 DrawdownCurrent decline from peak | -0.95% | -32.22% | +31.27% |
Average DrawdownAverage peak-to-trough decline | -1.77% | -33.92% | +32.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 9.90% | — |
Volatility
RESM vs. TNA - Volatility Comparison
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Volatility by Period
| RESM | TNA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 18.94% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 42.47% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.36% | 58.38% | -41.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.36% | 67.53% | -50.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.36% | 68.34% | -50.98% |
RESM vs. TNA - Expense Ratio Comparison
RESM has a 0.32% expense ratio, which is lower than TNA's 1.05% expense ratio.
Dividends
RESM vs. TNA - Dividend Comparison
RESM's dividend yield for the trailing twelve months is around 0.08%, less than TNA's 0.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
RESM Columbia Research Enhanced Small Cap ETF | 0.08% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TNA Direxion Daily Small Cap Bull 3X Shares | 0.29% | 0.78% | 0.93% | 1.27% | 0.31% | 0.06% | 0.03% | 0.44% | 0.36% | 0.15% |
Frequently Asked Questions
With a correlation of 0.95, RESM 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.
On fees, RESM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RESM is cheaper with a 0.32% expense ratio, compared with 1.05% for TNA.
TNA has the higher dividend yield at 0.29%, compared with 0.08% for RESM.
RESM is categorized as Small Cap Blend Equities, while TNA is Leveraged Equities. RESM tracks Beta Advantage Research Enhanced Small Cap Index, while TNA tracks Russell 2000 Index (300% Daily). They also come from different issuers: Columbia Threadneedle and Direxion. Their fees differ too: 0.32% for RESM and 1.05% for TNA.
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