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TECL vs. EURL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TECL vs. EURL

Last updated Jun 13, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and EURL (Direxion Daily FTSE Europe Bull 3x Shares) are both Leveraged Equities funds from Direxion - TECL tracks the Technology Select Sector Index (300%) while EURL tracks the FTSE Developed Europe Index (300%). Both are passively managed. Over the past 10 years, TECL returned 51.70%/yr vs 11.27%/yr for EURL. A 0.63 correlation means they provide meaningful diversification when combined. TECL charges 0.91%/yr vs 1.07%/yr for EURL.

Performance

TECL vs. EURL - Performance Comparison

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

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Returns By Period

In the year-to-date period, TECL achieves a 83.60% return, which is significantly higher than EURL's 13.73% return. Over the past 10 years, TECL has outperformed EURL with an annualized return of 51.70%, while EURL has yielded a comparatively lower 11.27% annualized return.

TECL

1D
2.54%
1M
9.30%
YTD
83.60%
6M
83.93%
1Y
177.82%
3Y*
65.24%
5Y*
36.48%
10Y*
51.70%

EURL

1D
-0.06%
1M
5.44%
YTD
13.73%
6M
19.84%
1Y
36.64%
3Y*
31.61%
5Y*
5.43%
10Y*
11.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TECL vs. EURL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TECL
Direxion Daily Technology Bull 3X Shares		83.60%38.60%36.15%203.14%-74.32%112.80%69.46%185.58%-24.03%124.82%
EURL
Direxion Daily FTSE Europe Bull 3x Shares		13.73%105.85%-11.42%44.19%-54.41%46.59%-23.19%72.61%-46.39%91.32%

Correlation

The correlation between TECL and EURL is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.52

Correlation (3Y)
Calculated over the trailing 3-year period

0.52

Correlation (5Y)
Calculated over the trailing 5-year period

0.60

Correlation (10Y)
Calculated over the trailing 10-year period

0.62

Correlation (All Time)
Calculated using the full available price history since Jan 22, 2014

0.63

The correlation between TECL and EURL shifts across timeframes, from 0.52 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

TECL vs. EURL - Sectors Allocation Comparison

Sectors
TECL
EURL

Technology

20.6%
7.9%

Energy

0.0%
5.7%

Industrials

0.0%
19.8%

Basic Materials

-

5.5%

Communication Services

-

3.3%

Consumer Cyclical

-

7.2%

Consumer Defensive

-

8.2%

Financial Services

-

23.0%

Healthcare

-

13.2%

Real Estate

-

1.6%

Utilities

-

4.8%

Technology

TECL
20.6%
EURL
7.9%

Energy

TECL
0.0%
EURL
5.7%

Industrials

TECL
0.0%
EURL
19.8%

Basic Materials

TECL

-

EURL
5.5%

Communication Services

TECL

-

EURL
3.3%

Consumer Cyclical

TECL

-

EURL
7.2%

Consumer Defensive

TECL

-

EURL
8.2%

Financial Services

TECL

-

EURL
23.0%

Healthcare

TECL

-

EURL
13.2%

Real Estate

TECL

-

EURL
1.6%

Utilities

TECL

-

EURL
4.8%

Compare stocks, funds, or ETFs

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Direxion Daily Technology Bull 3X Shares

Direxion Daily FTSE Europe Bull 3x Shares

Often compared with TECL:
TECL vs. TQQQTECL vs. SOXLTECL vs. TECSTECL vs. QQQTECL vs. FNGUTECL vs. BULZTECL vs. VGT
Often compared with EURL:
EURL vs. EUFNEURL vs. UPVEURL vs. QQQEURL vs. SOXLEURL vs. VGKEURL vs. TQQQEURL vs. SPY

Return for Risk

TECL vs. EURL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TECL
TECL Risk / Return Rank: 7676
Overall Rank
TECL Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
TECL Sortino Ratio Rank: 6969
Sortino Ratio Rank
TECL Omega Ratio Rank: 7171
Omega Ratio Rank
TECL Calmar Ratio Rank: 8383
Calmar Ratio Rank
TECL Martin Ratio Rank: 6767
Martin Ratio Rank
EURL
EURL Risk / Return Rank: 2626
Overall Rank
EURL Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
EURL Sortino Ratio Rank: 2727
Sortino Ratio Rank
EURL Omega Ratio Rank: 2626
Omega Ratio Rank
EURL Calmar Ratio Rank: 2626
Calmar Ratio Rank
EURL Martin Ratio Rank: 2828
Martin Ratio Rank
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. EURL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and Direxion Daily FTSE Europe Bull 3x Shares (EURL). 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.

TECLEURLDifference
Sharpe ratioReturn per unit of total volatility
2.66
0.77

+1.89

Sortino ratioReturn per unit of downside risk
2.69
1.33

+1.36

Omega ratioGain probability vs. loss probability

1.36

1.16

+0.20

Calmar ratioReturn relative to maximum drawdown

3.84

1.11

+2.73

Martin ratioReturn relative to average drawdown

10.73

3.50

+7.23

TECL vs. EURL - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 2.66, which is higher than the EURL Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of TECL and EURL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TECL vs. EURL - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, smaller than the maximum EURL drawdown of -84.65%. Use the drawdown chart below to compare losses from any high point for TECL and EURL.

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Drawdown Indicators

TECLEURLDifference

Max Drawdown

Largest peak-to-trough decline

-77.96%

-84.65%

+6.69%

Max Drawdown (1Y)

Largest decline over 1 year

-46.58%

-33.05%

-13.53%

Max Drawdown (3Y)

Largest decline over 3 years

-66.58%

-38.81%

-27.77%

Max Drawdown (5Y)

Largest decline over 5 years

-77.96%

-75.24%

-2.72%

Max Drawdown (10Y)

Largest decline over 10 years

-77.96%

-84.65%

+6.69%

Current Drawdown

Current decline from peak

-21.15%

-8.76%

-12.39%

Average Drawdown

Average peak-to-trough decline

-18.38%

-36.91%

+18.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.64%

10.56%

+6.08%

Volatility

TECL vs. EURL - Volatility Comparison

Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 33.55% compared to Direxion Daily FTSE Europe Bull 3x Shares (EURL) at 17.98%. This indicates that TECL's price experiences larger fluctuations and is considered to be riskier than EURL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TECLEURLDifference

Volatility (1M)

Calculated over the trailing 1-month period

33.55%

17.98%

+15.57%

Volatility (6M)

Calculated over the trailing 6-month period

57.14%

40.51%

+16.63%

Volatility (1Y)

Calculated over the trailing 1-year period

67.39%

48.09%

+19.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

74.94%

53.55%

+21.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

72.79%

55.82%

+16.97%

TECL vs. EURL - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is lower than EURL's 1.07% expense ratio.

Dividends

TECL vs. EURL - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 3.87%, more than EURL's 1.37% yield.

PositionTTM202520242023202220212020201920182017
EURL
Direxion Daily FTSE Europe Bull 3x Shares		1.37%1.50%3.51%2.50%1.80%0.33%0.41%1.17%3.07%0.38%
TECL
Direxion Daily Technology Bull 3X Shares		3.87%7.19%0.29%0.28%0.22%0.32%0.52%0.25%0.47%0.10%

Frequently Asked Questions

TECL and EURL have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TECL has higher volatility (33.55%) compared to EURL (17.98%). In terms of maximum drawdown, TECL dropped -77.96% vs EURL's -84.65%.

On 10-year performance, TECL leads with 51.70% vs 11.27% for EURL. On fees, TECL is cheaper at 0.91% per year. On volatility, EURL has been the lower-risk option at 17.98%. 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 51.70% return vs 11.27%. 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 1.07% for EURL.

TECL has the higher dividend yield at 3.87%, compared with 1.37% for EURL.

TECL tracks Technology Select Sector Index (300%), while EURL tracks FTSE Developed Europe Index (300%). Their fees differ too: 0.91% for TECL and 1.07% for EURL.

TECL currently has the higher Sharpe Ratio (2.66 vs 0.77), 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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