REW vs. TECS
Compare and contrast key facts about ProShares UltraShort Technology (REW) and Direxion Daily Technology Bear 3X Shares (TECS).
REW and TECS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. REW is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Technology Index (-200%). It was launched on Jan 30, 2007. TECS is a passively managed fund by Direxion that tracks the performance of the Technology Select Sector Index (-300%). It was launched on Dec 17, 2008. Both REW and TECS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: REW or TECS.
Key characteristics
| REW | TECS | |
|---|---|---|
| YTD Return | -36.40% | -53.19% |
| 1Y Return | -47.33% | -64.67% |
| 3Y Return (Ann) | -27.18% | -47.73% |
| 5Y Return (Ann) | -45.67% | -64.76% |
| 10Y Return (Ann) | -40.26% | -57.39% |
| Sharpe Ratio | -1.05 | -0.99 |
| Sortino Ratio | -1.68 | -1.76 |
| Omega Ratio | 0.81 | 0.81 |
| Calmar Ratio | -0.47 | -0.64 |
| Martin Ratio | -1.48 | -1.46 |
| Ulcer Index | 31.65% | 44.11% |
| Daily Std Dev | 44.33% | 64.79% |
| Max Drawdown | -99.98% | -100.00% |
| Current Drawdown | -99.98% | -100.00% |
Correlation
The correlation between REW and TECS is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
REW vs. TECS - Performance Comparison
In the year-to-date period, REW achieves a -36.40% return, which is significantly higher than TECS's -53.19% return. Over the past 10 years, REW has outperformed TECS with an annualized return of -40.26%, while TECS has yielded a comparatively lower -57.39% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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REW vs. TECS - Expense Ratio Comparison
REW has a 0.95% expense ratio, which is lower than TECS's 1.08% expense ratio.
Risk-Adjusted Performance
REW vs. TECS - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Technology (REW) and Direxion Daily Technology Bear 3X Shares (TECS). 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.
Dividends
REW vs. TECS - Dividend Comparison
REW's dividend yield for the trailing twelve months is around 6.78%, more than TECS's 4.84% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
REW ProShares UltraShort Technology | 6.78% | 5.98% | 0.22% | 0.00% | 0.28% | 1.80% | 0.50% |
TECS Direxion Daily Technology Bear 3X Shares | 4.84% | 5.73% | 0.00% | 0.00% | 0.15% | 1.35% | 0.33% |
Drawdowns
REW vs. TECS - Drawdown Comparison
The maximum REW drawdown since its inception was -99.98%, roughly equal to the maximum TECS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for REW and TECS. For additional features, visit the drawdowns tool.
Volatility
REW vs. TECS - Volatility Comparison
The current volatility for ProShares UltraShort Technology (REW) is 11.96%, while Direxion Daily Technology Bear 3X Shares (TECS) has a volatility of 18.24%. This indicates that REW experiences smaller price fluctuations and is considered to be less risky than TECS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.