TECL vs. FNGU

Last updated Jun 23, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and FNGU (MicroSectors FANG+ 3X Leveraged ETNs) are both Leveraged Equities funds - TECL tracks the Technology Select Sector Index (300%) while FNGU tracks the NYSE FANG+ Index (Gross Total Return) (300%). Both are passively managed. Over the past year, TECL returned 218.70% vs 30.95% for FNGU. Their correlation of 0.86 suggests significant overlap in exposure. TECL charges 0.91%/yr vs 2.60%/yr for FNGU.

Performance

TECL vs. FNGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bull 3X Shares (TECL) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TECL achieves a 104.37% return, which is significantly higher than FNGU's 7.21% return.

TECL

• 1D: 1.43%
• 1M: 15.41%
• YTD: 104.37%
• 6M: 98.56%
• 1Y: 218.70%
• 3Y*: 73.29%
• 5Y*: 37.90%
• 10Y*: 54.55%

FNGU

• 1D: -7.77%
• 1M: -5.74%
• YTD: 7.21%
• 6M: 4.80%
• 1Y: 30.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TECL vs. FNGU - Yearly Performance Comparison

	2026 (YTD)	2025
TECL Direxion Daily Technology Bull 3X Shares	104.37%	27.44%
FNGU MicroSectors FANG+ 3X Leveraged ETNs	7.21%	3.02%

Correlation

The correlation between TECL and FNGU is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.86

The correlation between TECL and FNGU has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

TECL vs. FNGU - Sectors Allocation Comparison

Sectors	TECL	FNGU
Technology	22.4%	60.6%
Energy	0.0%	-
Industrials	0.0%	-
Basic Materials	-	-
Communication Services	-	29.8%
Consumer Cyclical	-	9.6%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TECL vs. FNGU — Risk / Return Rank

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

TECL

TECL Risk / Return Rank: 78
TECL Sharpe Ratio Rank: 93
TECL Sortino Ratio Rank: 68
TECL Omega Ratio Rank: 71
TECL Calmar Ratio Rank: 87
TECL Martin Ratio Rank: 72

FNGU

FNGU Risk / Return Rank: 17
FNGU Sharpe Ratio Rank: 16
FNGU Sortino Ratio Rank: 20
FNGU Omega Ratio Rank: 19
FNGU Calmar Ratio Rank: 14
FNGU Martin Ratio Rank: 14

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. FNGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and MicroSectors FANG+ 3X Leveraged ETNs (FNGU). 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	FNGU	Difference
Sharpe ratio: Return per unit of total volatility	3.20	0.49	+2.71
Sortino ratio: Return per unit of downside risk	2.98	1.06	+1.92
Omega ratio: Gain probability vs. loss probability	1.40	1.13	+0.27
Calmar ratio: Return relative to maximum drawdown	4.73	0.52	+4.20
Martin ratio: Return relative to average drawdown	13.09	1.24	+11.85

TECL vs. FNGU - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 3.20, which is higher than the FNGU Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of TECL and FNGU, 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. FNGU - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, which is greater than FNGU's maximum drawdown of -61.30%. Use the drawdown chart below to compare losses from any high point for TECL and FNGU.

Drawdown Indicators

	TECL	FNGU	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-61.30%	-16.66%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-59.55%	+12.97%
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	-12.23%	-25.09%	+12.86%
Average Drawdown Average peak-to-trough decline	-18.38%	-22.25%	+3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.79%	25.10%	-8.31%

Volatility

TECL vs. FNGU - Volatility Comparison

Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 35.62% compared to MicroSectors FANG+ 3X Leveraged ETNs (FNGU) at 32.41%. This indicates that TECL's price experiences larger fluctuations and is considered to be riskier than FNGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECL	FNGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	35.62%	32.41%	+3.21%
Volatility (6M) Calculated over the trailing 6-month period	57.86%	52.02%	+5.84%
Volatility (1Y) Calculated over the trailing 1-year period	68.99%	64.11%	+4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.28%	81.02%	-5.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.00%	81.02%	-8.02%

TECL vs. FNGU - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is lower than FNGU's 2.60% expense ratio.

Dividends

TECL vs. FNGU - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 3.48%, while FNGU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNGU MicroSectors FANG+ 3X Leveraged ETNs	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	3.48%	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 FNGU in my portfolio?

TECL and FNGU have a correlation of 0.84, 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 FNGU?

TECL has higher volatility (35.62%) compared to FNGU (32.41%). In terms of maximum drawdown, TECL dropped -77.96% vs FNGU's -61.30%.

Which ETF is better, TECL or FNGU?

On 1-year performance, TECL leads with 218.70% vs 30.95% for FNGU. On fees, TECL is cheaper at 0.91% per year. On volatility, FNGU has been the lower-risk option at 32.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECL or FNGU?

Over the 1-year period, TECL has performed better with a 218.70% return vs 30.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECL or FNGU?

TECL is cheaper with a 0.91% expense ratio, compared with 2.60% for FNGU.

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

TECL has the higher dividend yield at 3.48%, compared with 0.00% for FNGU.

What is the main difference between TECL and FNGU?

TECL tracks Technology Select Sector Index (300%), while FNGU tracks NYSE FANG+ Index (Gross Total Return) (300%). They also come from different issuers: Direxion and Bank of Montreal. Their fees differ too: 0.91% for TECL and 2.60% for FNGU.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (3.20 vs 0.49), 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.