SPUU vs. TECL

Last updated Aug 5, 2026

SPUU (Direxion Daily S&P 500 Bull 2X ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds from Direxion - SPUU tracks the S&P 500 Index (200% Daily) while TECL tracks the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, SPUU returned 24.28%/yr vs 47.77%/yr for TECL. Their correlation of 0.87 means they have usually moved in the same direction. SPUU charges 0.60%/yr vs 0.91%/yr for TECL.

Performance

SPUU vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P 500 Bull 2X ETF (SPUU) and Direxion Daily Technology Bull 3X Shares (TECL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUU achieves a 24.37% return, which is significantly lower than TECL's 77.71% return. Over the past 10 years, SPUU has underperformed TECL with an annualized return of 24.28%, while TECL has yielded a comparatively higher 47.77% annualized return.

SPUU

• 1D: 3.48%
• 1M: 6.81%
• 6M: 22.20%
• YTD: 24.37%
• 1Y: 42.90%
• 3Y*: 36.19%
• 5Y*: 18.90%
• 10Y*: 24.28%
• ALL TIME*: 21.98%

TECL

• 1D: 14.98%
• 1M: 6.72%
• 6M: 88.27%
• YTD: 77.71%
• 1Y: 117.04%
• 3Y*: 64.24%
• 5Y*: 28.73%
• 10Y*: 47.77%
• ALL TIME*: 48.13%

*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)
SPUU Direxion Daily S&P 500 Bull 2X ETF	$5.02M	$5.05M	$4.57M
TECL Direxion Daily Technology Bull 3X Shares	$156.89M	$152.83M	$226.69M

SPUU vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPUU Direxion Daily S&P 500 Bull 2X ETF	24.37%	26.55%	44.25%	47.28%	-38.72%	61.27%	21.85%	66.84%	-14.59%	44.33%
TECL Direxion Daily Technology Bull 3X Shares	77.71%	38.60%	36.15%	203.14%	-74.32%	112.80%	69.46%	185.58%	-24.03%	124.82%

Correlation

The correlation between SPUU and TECL is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014	0.87

The correlation between SPUU and TECL has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

SPUU vs. TECL - Sectors Allocation Comparison

Sectors	SPUU	TECL
Technology	17.0%	99.2%
Financial Services	5.5%	-
Communication Services	4.2%	0.8%
Healthcare	4.1%	-
Consumer Cyclical	3.9%	-
Industrials	3.5%	0.0%
Consumer Defensive	2.1%	-
Energy	1.5%	0.0%
Utilities	1.2%	-
Real Estate	0.9%	-
Basic Materials	0.8%	-

Return for Risk

SPUU vs. TECL — Risk / Return Rank

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

SPUU

SPUU Risk / Return Rank: 62
SPUU Sharpe Ratio Rank: 63
SPUU Sortino Ratio Rank: 58
SPUU Omega Ratio Rank: 58
SPUU Calmar Ratio Rank: 60
SPUU Martin Ratio Rank: 69

TECL

TECL Risk / Return Rank: 54
TECL Sharpe Ratio Rank: 56
TECL Sortino Ratio Rank: 51
TECL Omega Ratio Rank: 50
TECL Calmar Ratio Rank: 65
TECL Martin Ratio Rank: 47

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.

SPUU vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 2X ETF (SPUU) 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.

	SPUU	TECL	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.52	+0.14
Sortino ratio: Return per unit of downside risk	2.22	2.05	+0.17
Omega ratio: Gain probability vs. loss probability	1.28	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	2.37	2.53	-0.16
Martin ratio: Return relative to average drawdown	9.56	5.97	+3.59

SPUU vs. TECL - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 1.67, which is comparable to the TECL Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of SPUU and TECL, 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

SPUU vs. TECL - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for SPUU and TECL.

Drawdown Indicators

	SPUU	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-77.96%	+18.61%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-46.58%	+28.39%
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	-66.58%	+31.40%
Max Drawdown (5Y) Largest decline over 5 years	-46.59%	-77.96%	+31.37%
Max Drawdown (10Y) Largest decline over 10 years	-59.35%	-77.96%	+18.61%
Current Drawdown Current decline from peak	0.00%	-23.68%	+23.68%
Average Drawdown Average peak-to-trough decline	-9.43%	-18.45%	+9.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.50%	19.69%	-15.19%

Volatility

SPUU vs. TECL - Volatility Comparison

The current volatility for Direxion Daily S&P 500 Bull 2X ETF (SPUU) is 8.18%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 30.57%. This indicates that SPUU experiences smaller price fluctuations and is considered to be less risky than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.18%	30.57%	-22.39%
Volatility (6M) Calculated over the trailing 6-month period	20.79%	66.53%	-45.74%
Volatility (1Y) Calculated over the trailing 1-year period	26.00%	77.41%	-51.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.76%	76.96%	-43.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.82%	73.75%	-37.93%

SPUU vs. TECL - Expense Ratio Comparison

SPUU has a 0.60% expense ratio, which is lower than TECL's 0.91% expense ratio.

Dividends

SPUU vs. TECL - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.26%, less than TECL's 4.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPUU Direxion Daily S&P 500 Bull 2X ETF	1.26%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%
TECL Direxion Daily Technology Bull 3X Shares	4.01%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPUU and TECL in my portfolio?

SPUU and TECL have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPUU or TECL?

TECL has higher volatility (30.57%) compared to SPUU (8.18%). In terms of maximum drawdown, SPUU dropped -59.35% vs TECL's -77.96%.

Which ETF is better, SPUU or TECL?

On 10-year performance, TECL leads with 47.77% vs 24.28% for SPUU. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 8.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUU or TECL?

Over the 10-year period, TECL has performed better with a 47.77% return vs 24.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUU or TECL?

SPUU is cheaper with a 0.60% expense ratio, compared with 0.91% for TECL.

Which ETF pays a higher dividend yield, SPUU or TECL?

TECL has the higher dividend yield at 4.01%, compared with 1.26% for SPUU.

What is the main difference between SPUU and TECL?

SPUU tracks S&P 500 Index (200% Daily), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 0.60% for SPUU and 0.91% for TECL.

Which has better risk-adjusted returns?

SPUU currently has the higher Sharpe Ratio (1.67 vs 1.52), 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.