TECL vs. HDV

Last updated Aug 4, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%), while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 10 years, TECL returned 45.72%/yr vs 9.57%/yr for HDV. Their 0.49 correlation means their historical movements had little consistent relationship. TECL charges 0.91%/yr vs 0.08%/yr for HDV.

Performance

TECL vs. HDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bull 3X Shares (TECL) and iShares Core High Dividend ETF (HDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TECL achieves a 54.56% return, which is significantly higher than HDV's 19.66% return. Over the past 10 years, TECL has outperformed HDV with an annualized return of 45.72%, while HDV has yielded a comparatively lower 9.57% annualized return.

TECL

• 1D: 4.43%
• 1M: -7.18%
• 6M: 53.20%
• YTD: 54.56%
• 1Y: 99.73%
• 3Y*: 56.77%
• 5Y*: 25.61%
• 10Y*: 45.72%
• ALL TIME*: 46.97%

HDV

• 1D: -0.31%
• 1M: 2.46%
• 6M: 10.00%
• YTD: 19.66%
• 1Y: 25.24%
• 3Y*: 15.80%
• 5Y*: 12.13%
• 10Y*: 9.57%
• ALL TIME*: 10.80%

*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)
HDV iShares Core High Dividend ETF	$168.30M	$156.51M	$108.57M
TECL Direxion Daily Technology Bull 3X Shares	$142.34M	$148.61M	$225.94M

TECL vs. HDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TECL Direxion Daily Technology Bull 3X Shares	54.56%	38.60%	36.15%	203.14%	-74.32%	112.80%	69.46%	185.58%	-24.03%	124.82%
HDV iShares Core High Dividend ETF	19.66%	11.90%	14.16%	1.72%	7.05%	19.45%	-6.48%	20.22%	-3.01%	13.40%

Correlation

The correlation between TECL and HDV is -0.27, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.27
Correlation (3Y) Balances recent behavior with more history.	0.01
Correlation (5Y) Shows whether the relationship held over a longer period.	0.26
Correlation (10Y) Provides a long-term view across more market conditions.	0.39
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011	0.49

The correlation between TECL and HDV shifts across timeframes, from -0.27 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

TECL vs. HDV - Sectors Allocation Comparison

Sectors	TECL	HDV
Technology	99.2%	0.9%
Communication Services	0.8%	5.2%
Energy	0.0%	19.8%
Industrials	0.0%	2.8%
Basic Materials	-	0.8%
Consumer Cyclical	-	9.3%
Consumer Defensive	-	24.3%
Financial Services	-	4.7%
Healthcare	-	23.9%
Real Estate	-	-
Utilities	-	8.2%

Return for Risk

TECL vs. HDV — Risk / Return Rank

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

TECL

TECL Risk / Return Rank: 52
TECL Sharpe Ratio Rank: 53
TECL Sortino Ratio Rank: 52
TECL Omega Ratio Rank: 51
TECL Calmar Ratio Rank: 60
TECL Martin Ratio Rank: 45

HDV

HDV Risk / Return Rank: 91
HDV Sharpe Ratio Rank: 91
HDV Sortino Ratio Rank: 93
HDV Omega Ratio Rank: 89
HDV Calmar Ratio Rank: 94
HDV Martin Ratio Rank: 88

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. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and iShares Core High Dividend ETF (HDV). 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	HDV	Difference
Sharpe ratio: Return per unit of total volatility	1.32	2.34	-1.03
Sortino ratio: Return per unit of downside risk	1.87	3.53	-1.66
Omega ratio: Gain probability vs. loss probability	1.24	1.41	-0.18
Calmar ratio: Return relative to maximum drawdown	2.15	4.90	-2.74
Martin ratio: Return relative to average drawdown	5.10	13.39	-8.29

TECL vs. HDV - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 1.32, which is lower than the HDV Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of TECL and HDV, 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. HDV - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for TECL and HDV.

Drawdown Indicators

	TECL	HDV	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-37.04%	-40.92%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-5.18%	-41.40%
Max Drawdown (3Y) Largest decline over 3 years	-66.58%	-10.49%	-56.09%
Max Drawdown (5Y) Largest decline over 5 years	-77.96%	-15.42%	-62.54%
Max Drawdown (10Y) Largest decline over 10 years	-77.96%	-37.04%	-40.92%
Current Drawdown Current decline from peak	-33.62%	-1.72%	-31.90%
Average Drawdown Average peak-to-trough decline	-18.45%	-3.06%	-15.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.63%	1.89%	+17.74%

Volatility

TECL vs. HDV - Volatility Comparison

Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 27.41% compared to iShares Core High Dividend ETF (HDV) at 4.52%. This indicates that TECL's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECL	HDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.41%	4.52%	+22.89%
Volatility (6M) Calculated over the trailing 6-month period	65.16%	8.66%	+56.50%
Volatility (1Y) Calculated over the trailing 1-year period	76.18%	10.83%	+65.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.67%	12.95%	+63.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.61%	15.79%	+57.82%

TECL vs. HDV - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

TECL vs. HDV - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 4.61%, more than HDV's 3.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDV iShares Core High Dividend ETF	3.08%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%
TECL Direxion Daily Technology Bull 3X Shares	4.61%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TECL and HDV in my portfolio?

TECL and HDV have a correlation of -0.27, 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 HDV?

TECL has higher volatility (27.41%) compared to HDV (4.52%). In terms of maximum drawdown, TECL dropped -77.96% vs HDV's -37.04%.

Which ETF is better, TECL or HDV?

On 10-year performance, TECL leads with 45.72% vs 9.57% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECL or HDV?

Over the 10-year period, TECL has performed better with a 45.72% return vs 9.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECL or HDV?

HDV is cheaper with a 0.08% expense ratio, compared with 0.91% for TECL.

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

TECL has the higher dividend yield at 4.61%, compared with 3.08% for HDV.

What is the main difference between TECL and HDV?

TECL is categorized as Leveraged Equities, while HDV is Dividend. TECL tracks Technology Select Sector Index (300%), while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.91% for TECL and 0.08% for HDV.

Which has better risk-adjusted returns?

HDV currently has the higher Sharpe Ratio (2.34 vs 1.32), 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.