TECL vs. BITI
TECL (Direxion Daily Technology Bull 3X Shares) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%), while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, TECL returned 57.74%/yr vs -31.54%/yr for BITI. At a correlation of -0.36, they often move in opposite directions. TECL charges 0.91%/yr vs 1.03%/yr for BITI.
Performance
TECL vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, TECL achieves a 73.38% return, which is significantly higher than BITI's 23.84% return.
TECL
- 1D
- 3.47%
- 1M
- -5.57%
- 6M
- 65.34%
- YTD
- 73.38%
- 1Y
- 126.13%
- 3Y*
- 57.74%
- 5Y*
- 29.60%
- 10Y*
- 49.31%
BITI
- 1D
- -3.81%
- 1M
- -2.41%
- 6M
- 34.02%
- YTD
- 23.84%
- 1Y
- 64.31%
- 3Y*
- -31.54%
- 5Y*
- —
- 10Y*
- —
TECL vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TECL Direxion Daily Technology Bull 3X Shares | 73.38% | 38.60% | 36.15% | 203.14% | -16.55% |
BITI ProShares Short Bitcoin ETF | 23.84% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between TECL and BITI is -0.44, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.36 |
The correlation between TECL and BITI shifts across timeframes, from -0.44 (1 year) to -0.33 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TECL vs. BITI — Risk / Return Rank
TECL
BITI
TECL vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and ProShares Short Bitcoin ETF (BITI). 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.
| TECL | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.24 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 2.56 | +0.17 |
| Martin ratioReturn relative to average drawdown | 7.10 | 6.37 | +0.73 |
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Drawdowns
TECL vs. BITI - Drawdown Comparison
The maximum TECL drawdown since its inception was -77.96%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for TECL and BITI.
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Drawdown Indicators
| TECL | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.96% | -92.16% | +14.20% |
Max Drawdown (1Y)Largest decline over 1 year | -46.58% | -25.28% | -21.30% |
Max Drawdown (3Y)Largest decline over 3 years | -66.58% | -84.63% | +18.05% |
Max Drawdown (5Y)Largest decline over 5 years | -77.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -77.96% | — | — |
Current DrawdownCurrent decline from peak | -25.54% | -86.48% | +60.94% |
Average DrawdownAverage peak-to-trough decline | -18.40% | -68.36% | +49.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.84% | 10.13% | +7.71% |
Volatility
TECL vs. BITI - Volatility Comparison
Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 31.14% compared to ProShares Short Bitcoin ETF (BITI) at 11.73%. This indicates that TECL's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECL | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.14% | 11.73% | +19.41% |
Volatility (6M)Calculated over the trailing 6-month period | 62.56% | 34.49% | +28.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.80% | 44.24% | +28.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.06% | 52.29% | +23.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.25% | 52.29% | +20.96% |
TECL vs. BITI - Expense Ratio Comparison
TECL has a 0.91% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
TECL vs. BITI - Dividend Comparison
TECL's dividend yield for the trailing twelve months is around 4.11%, less than BITI's 15.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.70% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 4.11% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
TECL and BITI have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (31.14%) compared to BITI (11.73%). In terms of maximum drawdown, TECL dropped -77.96% vs BITI's -92.16%.
On 3-year performance, TECL leads with 57.74% vs -31.54% for BITI. On fees, TECL is cheaper at 0.91% per year. On volatility, BITI has been the lower-risk option at 11.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TECL has performed better with a 57.74% return vs -31.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECL is cheaper with a 0.91% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.70%, compared with 4.11% for TECL.
TECL is categorized as Leveraged Equities, while BITI is Cryptocurrency. TECL tracks Technology Select Sector Index (300%), while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.91% for TECL and 1.03% for BITI.
TECL currently has the higher Sharpe Ratio (1.74 vs 1.46), 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.
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