TECL vs. EUO
TECL (Direxion Daily Technology Bull 3X Shares) and EUO (ProShares UltraShort Euro) are both exchange-traded funds - TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%), while EUO is a Leveraged Currency fund tracking the USD/EUR Exchange Rate (-200%). Both are passively managed. Over the past 10 years, TECL returned 50.09%/yr vs 2.59%/yr for EUO. At a correlation of -0.18, they often move in opposite directions. TECL charges 0.91%/yr vs 0.99%/yr for EUO.
Performance
TECL vs. EUO - Performance Comparison
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Returns By Period
In the year-to-date period, TECL achieves a 72.61% return, which is significantly higher than EUO's 6.00% return. Over the past 10 years, TECL has outperformed EUO with an annualized return of 50.09%, while EUO has yielded a comparatively lower 2.59% annualized return.
TECL
- 1D
- -19.93%
- 1M
- 4.92%
- YTD
- 72.61%
- 6M
- 62.00%
- 1Y
- 174.82%
- 3Y*
- 66.22%
- 5Y*
- 35.93%
- 10Y*
- 50.09%
EUO
- 1D
- 1.59%
- 1M
- 4.89%
- YTD
- 6.00%
- 6M
- 4.49%
- 1Y
- 2.63%
- 3Y*
- -0.21%
- 5Y*
- 5.83%
- 10Y*
- 2.59%
TECL vs. EUO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECL Direxion Daily Technology Bull 3X Shares | 72.61% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 185.58% | -24.03% | 124.82% |
EUO ProShares UltraShort Euro | 6.00% | -18.87% | 19.79% | -1.02% | 13.88% | 14.83% | -15.97% | 10.51% | 14.39% | -21.71% |
Correlation
The correlation between TECL and EUO is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2008 | -0.18 |
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Return for Risk
TECL vs. EUO — Risk / Return Rank
TECL
EUO
TECL vs. EUO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and ProShares UltraShort Euro (EUO). 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.
| TECL | EUO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.06 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.95 | 0.42 | +3.53 |
| Martin ratioReturn relative to average drawdown | 11.27 | 0.91 | +10.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TECL | EUO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.80 | 0.27 | +2.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.38 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.17 | +0.52 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.06 | +0.67 |
Drawdowns
TECL vs. EUO - Drawdown Comparison
The maximum TECL drawdown since its inception was -77.96%, which is greater than EUO's maximum drawdown of -38.58%. Use the drawdown chart below to compare losses from any high point for TECL and EUO.
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Drawdown Indicators
| TECL | EUO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.96% | -38.58% | -39.38% |
Max Drawdown (1Y)Largest decline over 1 year | -46.58% | -8.05% | -38.53% |
Max Drawdown (3Y)Largest decline over 3 years | -66.58% | -24.46% | -42.12% |
Max Drawdown (5Y)Largest decline over 5 years | -77.96% | -25.28% | -52.68% |
Max Drawdown (10Y)Largest decline over 10 years | -77.96% | -29.61% | -48.35% |
Current DrawdownCurrent decline from peak | -25.87% | -17.30% | -8.57% |
Average DrawdownAverage peak-to-trough decline | -18.38% | -18.50% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.27% | 3.71% | +12.56% |
Volatility
TECL vs. EUO - Volatility Comparison
Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 31.75% compared to ProShares UltraShort Euro (EUO) at 2.73%. This indicates that TECL's price experiences larger fluctuations and is considered to be riskier than EUO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECL | EUO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.75% | 2.73% | +29.02% |
Volatility (6M)Calculated over the trailing 6-month period | 55.01% | 8.81% | +46.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.56% | 12.68% | +52.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.60% | 15.56% | +59.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.63% | 14.88% | +57.75% |
TECL vs. EUO - Expense Ratio Comparison
TECL has a 0.91% expense ratio, which is lower than EUO's 0.99% expense ratio.
Dividends
TECL vs. EUO - Dividend Comparison
TECL's dividend yield for the trailing twelve months is around 4.12%, while EUO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EUO ProShares UltraShort Euro | 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 | 4.12% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
TECL and EUO have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (31.75%) compared to EUO (2.73%). In terms of maximum drawdown, TECL dropped -77.96% vs EUO's -38.58%.
On 10-year performance, TECL leads with 50.09% vs 2.59% for EUO. On fees, TECL is cheaper at 0.91% per year. On volatility, EUO has been the lower-risk option at 2.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TECL has performed better with a 50.09% return vs 2.59%. 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 0.99% for EUO.
TECL has the higher dividend yield at 4.12%, compared with 0.00% for EUO.
TECL is categorized as Leveraged Equities, while EUO is Leveraged Currency. TECL tracks Technology Select Sector Index (300%), while EUO tracks USD/EUR Exchange Rate (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.91% for TECL and 0.99% for EUO.
TECL currently has the higher Sharpe Ratio (2.80 vs 0.27), 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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