TECL vs. BOEG

Last updated Jul 16, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and BOEG (Leverage Shares 2X Long BA Daily ETF) are both Leveraged Equities funds. TECL is passively managed, while BOEG is actively managed. Over the past year, TECL returned 114.01% vs -27.67% for BOEG. At a 0.30 correlation, their price movements are largely independent. TECL charges 0.91%/yr vs 0.75%/yr for BOEG.

Performance

TECL vs. BOEG - Performance Comparison

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

Returns By Period

In the year-to-date period, TECL achieves a 68.11% return, which is significantly higher than BOEG's -10.36% return.

TECL

• 1D: -3.04%
• 1M: -17.52%
• 6M: 66.64%
• YTD: 68.11%
• 1Y: 114.01%
• 3Y*: 56.12%
• 5Y*: 29.60%
• 10Y*: 48.85%

BOEG

• 1D: 0.95%
• 1M: -10.51%
• 6M: -27.48%
• YTD: -10.36%
• 1Y: -27.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TECL vs. BOEG - Yearly Performance Comparison

	2026 (YTD)	2025
TECL Direxion Daily Technology Bull 3X Shares	68.11%	51.32%
BOEG Leverage Shares 2X Long BA Daily ETF	-10.36%	6.85%

Correlation

The correlation between TECL and BOEG is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.30

Return for Risk

TECL vs. BOEG — Risk / Return Rank

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

TECL

TECL Risk / Return Rank: 54
TECL Sharpe Ratio Rank: 58
TECL Sortino Ratio Rank: 50
TECL Omega Ratio Rank: 51
TECL Calmar Ratio Rank: 61
TECL Martin Ratio Rank: 47

BOEG

BOEG Risk / Return Rank: 5
BOEG Sharpe Ratio Rank: 6
BOEG Sortino Ratio Rank: 6
BOEG Omega Ratio Rank: 6
BOEG Calmar Ratio Rank: 4
BOEG Martin Ratio Rank: 4

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.

TECL vs. BOEG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and Leverage Shares 2X Long BA Daily ETF (BOEG). 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	BOEG	Difference
Sharpe ratio: Return per unit of total volatility	1.57	-0.44	+2.01
Sortino ratio: Return per unit of downside risk	2.01	-0.29	+2.30
Omega ratio: Gain probability vs. loss probability	1.26	0.97	+0.29
Calmar ratio: Return relative to maximum drawdown	2.46	-0.60	+3.06
Martin ratio: Return relative to average drawdown	6.38	-1.12	+7.51

TECL vs. BOEG - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 1.57, which is higher than the BOEG Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of TECL and BOEG, 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

TECL vs. BOEG - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, which is greater than BOEG's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for TECL and BOEG.

Drawdown Indicators

	TECL	BOEG	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-46.47%	-31.49%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-46.47%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-66.58%	—	—
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	-27.80%	-32.70%	+4.90%
Average Drawdown Average peak-to-trough decline	-18.40%	-20.17%	+1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.93%	24.64%	-6.71%

Volatility

TECL vs. BOEG - Volatility Comparison

Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 31.14% compared to Leverage Shares 2X Long BA Daily ETF (BOEG) at 18.17%. This indicates that TECL's price experiences larger fluctuations and is considered to be riskier than BOEG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECL	BOEG	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.14%	18.17%	+12.97%
Volatility (6M) Calculated over the trailing 6-month period	62.65%	47.33%	+15.32%
Volatility (1Y) Calculated over the trailing 1-year period	72.88%	63.80%	+9.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.06%	63.82%	+12.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.24%	63.82%	+9.42%

TECL vs. BOEG - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is higher than BOEG's 0.75% expense ratio.

Dividends

TECL vs. BOEG - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 4.23%, while BOEG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BOEG Leverage Shares 2X Long BA Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TECL Direxion Daily Technology Bull 3X Shares	4.23%	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 TECL and BOEG in my portfolio?

TECL and BOEG have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TECL or BOEG?

TECL has higher volatility (31.14%) compared to BOEG (18.17%). In terms of maximum drawdown, TECL dropped -77.96% vs BOEG's -46.47%.

Which ETF is better, TECL or BOEG?

On 1-year performance, TECL leads with 114.01% vs -27.67% for BOEG. On fees, BOEG is cheaper at 0.75% per year. On volatility, BOEG has been the lower-risk option at 18.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECL or BOEG?

Over the 1-year period, TECL has performed better with a 114.01% return vs -27.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECL or BOEG?

BOEG is cheaper with a 0.75% expense ratio, compared with 0.91% for TECL.

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

TECL has the higher dividend yield at 4.23%, compared with 0.00% for BOEG.

What is the main difference between TECL and BOEG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.91% for TECL and 0.75% for BOEG.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (1.57 vs -0.44), 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.