TCHI vs. TECL

Last updated Jun 5, 2026

TCHI (iShares MSCI China Multisector Tech ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - TCHI is a Technology Equities fund tracking the MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). Both are passively managed. Over the past 3 years, TCHI returned 17.55%/yr vs 78.93%/yr for TECL. At a 0.41 correlation, their price movements are largely independent. TCHI charges 0.59%/yr vs 0.91%/yr for TECL.

Performance

TCHI vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China Multisector Tech ETF (TCHI) 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, TCHI achieves a 10.88% return, which is significantly lower than TECL's 115.57% return.

TCHI

• 1D: -0.12%
• 1M: 9.04%
• YTD: 10.88%
• 6M: 10.91%
• 1Y: 41.46%
• 3Y*: 17.55%
• 5Y*: —
• 10Y*: —

TECL

• 1D: -4.56%
• 1M: 55.10%
• YTD: 115.57%
• 6M: 106.65%
• 1Y: 249.35%
• 3Y*: 78.93%
• 5Y*: 42.11%
• 10Y*: 53.62%

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

TCHI vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TCHI iShares MSCI China Multisector Tech ETF	10.88%	33.13%	9.09%	-5.61%	-24.32%
TECL Direxion Daily Technology Bull 3X Shares	115.57%	38.60%	36.15%	203.14%	-67.79%

Correlation

The correlation between TCHI and TECL is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022	0.41

The correlation between TCHI and TECL shifts across timeframes, from 0.37 (3 years) to 0.48 (1 year), reflecting how their relationship changes across market environments.

TCHI vs. TECL - Sectors Allocation Comparison

Sectors	TCHI	TECL
Technology	56.0%	20.4%
Consumer Cyclical	15.8%	-
Industrials	13.5%	0.0%
Communication Services	10.0%	-
Consumer Defensive	2.5%	-
Energy	1.0%	0.0%
Financial Services	0.6%	-
Basic Materials	0.3%	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TCHI vs. TECL — Risk / Return Rank

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

TCHI

TCHI Risk / Return Rank: 42
TCHI Sharpe Ratio Rank: 48
TCHI Sortino Ratio Rank: 46
TCHI Omega Ratio Rank: 46
TCHI Calmar Ratio Rank: 41
TCHI Martin Ratio Rank: 31

TECL

TECL Risk / Return Rank: 84
TECL Sharpe Ratio Rank: 96
TECL Sortino Ratio Rank: 79
TECL Omega Ratio Rank: 78
TECL Calmar Ratio Rank: 89
TECL Martin Ratio Rank: 80

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.

TCHI vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Multisector Tech ETF (TCHI) 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.

	TCHI	TECL	Difference
Sharpe ratio: Return per unit of total volatility	1.63	4.03	-2.40
Sortino ratio: Return per unit of downside risk	2.27	3.52	-1.25
Omega ratio: Gain probability vs. loss probability	1.29	1.46	-0.17
Calmar ratio: Return relative to maximum drawdown	2.01	5.39	-3.38
Martin ratio: Return relative to average drawdown	4.43	15.48	-11.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TCHI vs. TECL - Sharpe Ratio Comparison

The current TCHI Sharpe Ratio is 1.63, which is lower than the TECL Sharpe Ratio of 4.03. The chart below compares the historical Sharpe Ratios of TCHI 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.

Sharpe Ratios by Period

	TCHI	TECL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	4.03	-2.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.76	-0.66

Drawdowns

TCHI vs. TECL - Drawdown Comparison

The maximum TCHI drawdown since its inception was -43.96%, smaller than the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for TCHI and TECL.

Drawdown Indicators

	TCHI	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-43.96%	-77.96%	+34.00%
Max Drawdown (1Y) Largest decline over 1 year	-20.73%	-46.58%	+25.85%
Max Drawdown (3Y) Largest decline over 3 years	-27.78%	-66.58%	+38.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-77.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.96%	—
Current Drawdown Current decline from peak	-2.99%	-7.42%	+4.43%
Average Drawdown Average peak-to-trough decline	-21.48%	-18.38%	-3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.39%	16.19%	-6.80%

Volatility

TCHI vs. TECL - Volatility Comparison

The current volatility for iShares MSCI China Multisector Tech ETF (TCHI) is 9.04%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 21.53%. This indicates that TCHI 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

	TCHI	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.04%	21.53%	-12.49%
Volatility (6M) Calculated over the trailing 6-month period	17.76%	50.05%	-32.29%
Volatility (1Y) Calculated over the trailing 1-year period	25.64%	62.27%	-36.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.87%	74.08%	-39.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.87%	72.35%	-37.48%

TCHI vs. TECL - Expense Ratio Comparison

TCHI has a 0.59% expense ratio, which is lower than TECL's 0.91% expense ratio.

Dividends

TCHI vs. TECL - Dividend Comparison

TCHI's dividend yield for the trailing twelve months is around 2.20%, less than TECL's 3.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TCHI iShares MSCI China Multisector Tech ETF	2.20%	2.44%	2.49%	4.28%	1.07%	0.00%	0.00%	0.00%	0.00%	0.00%
TECL Direxion Daily Technology Bull 3X Shares	3.30%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%

Frequently Asked Questions

Can I hold both TCHI and TECL in my portfolio?

TCHI and TECL have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TCHI or TECL?

TECL has higher volatility (21.53%) compared to TCHI (9.04%). In terms of maximum drawdown, TCHI dropped -43.96% vs TECL's -77.96%.

Which ETF is better, TCHI or TECL?

On 3-year performance, TECL leads with 78.93% vs 17.55% for TCHI. On fees, TCHI is cheaper at 0.59% per year. On volatility, TCHI has been the lower-risk option at 9.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TCHI or TECL?

Over the 3-year period, TECL has performed better with a 78.93% return vs 17.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TCHI or TECL?

TCHI is cheaper with a 0.59% expense ratio, compared with 0.91% for TECL.

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

TECL has the higher dividend yield at 3.30%, compared with 2.20% for TCHI.

What is the main difference between TCHI and TECL?

TCHI is categorized as Technology Equities, while TECL is Leveraged Equities. TCHI tracks MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net, while TECL tracks Technology Select Sector Index (300%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.59% for TCHI and 0.91% for TECL.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (4.03 vs 1.63), 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.