TECL vs. DLLL

Last updated Aug 5, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds - TECL tracks the Technology Select Sector Index (300%) while DLLL tracks the Dell Technologies Inc. (DELL). Both are passively managed. Over the past year, TECL returned 117.04% vs 691.51% for DLLL. Their 0.61 correlation means they have sometimes moved together and sometimes differently. TECL charges 0.91%/yr vs 1.50%/yr for DLLL.

Performance

TECL vs. DLLL - Performance Comparison

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

Returns By Period

In the year-to-date period, TECL achieves a 77.71% return, which is significantly lower than DLLL's 845.38% return.

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%

DLLL

• 1D: 18.18%
• 1M: 31.41%
• 6M: 1,006.50%
• YTD: 845.38%
• 1Y: 691.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 349.12%

*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)
DLLL GraniteShares 2x Long DELL Daily ETF	$27.38M	$35.69M	$52.87M
TECL Direxion Daily Technology Bull 3X Shares	$156.89M	$152.83M	$226.69M

TECL vs. DLLL - Yearly Performance Comparison

	2026 (YTD)	2025
TECL Direxion Daily Technology Bull 3X Shares	77.71%	37.55%
DLLL GraniteShares 2x Long DELL Daily ETF	845.38%	-3.72%

Correlation

The correlation between TECL and DLLL is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.61

The correlation between TECL and DLLL has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

TECL vs. DLLL - Sectors Allocation Comparison

Sectors	TECL	DLLL
Technology	99.2%	66.6%
Communication Services	0.8%	-
Energy	0.0%	-
Industrials	0.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TECL vs. DLLL — Risk / Return Rank

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

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

DLLL

DLLL Risk / Return Rank: 96
DLLL Sharpe Ratio Rank: 98
DLLL Sortino Ratio Rank: 94
DLLL Omega Ratio Rank: 92
DLLL Calmar Ratio Rank: 98
DLLL Martin Ratio Rank: 96

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.

TECL vs. DLLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and GraniteShares 2x Long DELL Daily ETF (DLLL). 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	DLLL	Difference
Sharpe ratio: Return per unit of total volatility	1.52	4.93	-3.40
Sortino ratio: Return per unit of downside risk	2.05	4.05	-2.00
Omega ratio: Gain probability vs. loss probability	1.26	1.49	-0.23
Calmar ratio: Return relative to maximum drawdown	2.53	12.21	-9.68
Martin ratio: Return relative to average drawdown	5.97	23.73	-17.76

TECL vs. DLLL - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 1.52, which is lower than the DLLL Sharpe Ratio of 4.93. The chart below compares the historical Sharpe Ratios of TECL and DLLL, 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. DLLL - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, which is greater than DLLL's maximum drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for TECL and DLLL.

Drawdown Indicators

	TECL	DLLL	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-68.58%	-9.38%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-57.19%	+10.61%
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	-23.68%	-10.57%	-13.11%
Average Drawdown Average peak-to-trough decline	-18.45%	-25.76%	+7.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.69%	29.36%	-9.67%

Volatility

TECL vs. DLLL - Volatility Comparison

The current volatility for Direxion Daily Technology Bull 3X Shares (TECL) is 30.57%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 52.63%. This indicates that TECL experiences smaller price fluctuations and is considered to be less risky than DLLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECL	DLLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.57%	52.63%	-22.06%
Volatility (6M) Calculated over the trailing 6-month period	66.53%	115.21%	-48.68%
Volatility (1Y) Calculated over the trailing 1-year period	77.41%	141.67%	-64.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.96%	133.40%	-56.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.75%	133.40%	-59.65%

TECL vs. DLLL - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is lower than DLLL's 1.50% expense ratio.

Dividends

TECL vs. DLLL - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 4.01%, while DLLL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLLL GraniteShares 2x Long DELL 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	4.01%	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 DLLL in my portfolio?

TECL and DLLL have a correlation of 0.58, 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 DLLL?

DLLL has higher volatility (52.63%) compared to TECL (30.57%). In terms of maximum drawdown, TECL dropped -77.96% vs DLLL's -68.58%.

Which ETF is better, TECL or DLLL?

On 1-year performance, DLLL leads with 691.51% vs 117.04% for TECL. On fees, TECL is cheaper at 0.91% per year. On volatility, TECL has been the lower-risk option at 30.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECL or DLLL?

Over the 1-year period, DLLL has performed better with a 691.51% return vs 117.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECL or DLLL?

TECL is cheaper with a 0.91% expense ratio, compared with 1.50% for DLLL.

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

TECL has the higher dividend yield at 4.01%, compared with 0.00% for DLLL.

What is the main difference between TECL and DLLL?

TECL tracks Technology Select Sector Index (300%), while DLLL tracks Dell Technologies Inc. (DELL). They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 0.91% for TECL and 1.50% for DLLL.

Which has better risk-adjusted returns?

DLLL currently has the higher Sharpe Ratio (4.93 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.