TECL vs. JNUG

Last updated Jul 22, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) are both exchange-traded funds - TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%), while JNUG is a Gold fund tracking the MVIS Global Junior Gold Miners Index (200%). Both are passively managed. Over the past 10 years, TECL returned 47.75%/yr vs -30.17%/yr for JNUG. At a 0.14 correlation, their price movements are largely independent. TECL charges 0.91%/yr vs 1.03%/yr for JNUG.

Performance

TECL vs. JNUG - 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 Junior Gold Miners Index Bull 2X ETF (JNUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TECL achieves a 64.40% return, which is significantly higher than JNUG's -43.35% return. Over the past 10 years, TECL has outperformed JNUG with an annualized return of 47.75%, while JNUG has yielded a comparatively lower -30.17% annualized return.

TECL

• 1D: 8.39%
• 1M: -18.41%
• 6M: 73.69%
• YTD: 64.40%
• 1Y: 101.21%
• 3Y*: 55.08%
• 5Y*: 27.69%
• 10Y*: 47.75%
• ALL TIME*: 47.61%

JNUG

• 1D: 11.43%
• 1M: -20.63%
• 6M: -59.92%
• YTD: -43.35%
• 1Y: 45.37%
• 3Y*: 49.80%
• 5Y*: 11.47%
• 10Y*: -30.17%
• ALL TIME*: -36.00%

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

TECL vs. JNUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TECL Direxion Daily Technology Bull 3X Shares	64.40%	38.60%	36.15%	203.14%	-74.32%	112.80%	69.46%	185.58%	-24.03%	124.82%
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	-43.35%	478.59%	9.96%	-4.79%	-43.60%	-46.61%	-85.51%	82.43%	-48.11%	-20.18%

Correlation

The correlation between TECL and JNUG is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013	0.14

Over the past year, TECL and JNUG have become more correlated (0.39) than their long-term average of 0.14, meaning their price movements have been converging.

TECL vs. JNUG - Sectors Allocation Comparison

Sectors	TECL	JNUG
Technology	99.2%	-
Communication Services	0.8%	-
Energy	0.0%	-
Industrials	0.0%	-
Basic Materials	-	100.0%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TECL vs. JNUG — Risk / Return Rank

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

TECL

TECL Risk / Return Rank: 52
TECL Sharpe Ratio Rank: 55
TECL Sortino Ratio Rank: 50
TECL Omega Ratio Rank: 50
TECL Calmar Ratio Rank: 59
TECL Martin Ratio Rank: 46

JNUG

JNUG Risk / Return Rank: 24
JNUG Sharpe Ratio Rank: 19
JNUG Sortino Ratio Rank: 30
JNUG Omega Ratio Rank: 31
JNUG Calmar Ratio Rank: 20
JNUG Martin Ratio Rank: 19

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. JNUG - 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 Junior Gold Miners Index Bull 2X ETF (JNUG). 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	JNUG	Difference
Sharpe ratio: Return per unit of total volatility	1.38	0.43	+0.95
Sortino ratio: Return per unit of downside risk	1.88	1.24	+0.65
Omega ratio: Gain probability vs. loss probability	1.24	1.16	+0.08
Calmar ratio: Return relative to maximum drawdown	2.18	0.65	+1.54
Martin ratio: Return relative to average drawdown	5.52	1.34	+4.18

TECL vs. JNUG - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 1.38, which is higher than the JNUG Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of TECL and JNUG, 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. JNUG - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, smaller than the maximum JNUG drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for TECL and JNUG.

Drawdown Indicators

	TECL	JNUG	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-99.95%	+21.99%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-70.58%	+24.00%
Max Drawdown (3Y) Largest decline over 3 years	-66.58%	-70.58%	+4.00%
Max Drawdown (5Y) Largest decline over 5 years	-77.96%	-76.67%	-1.29%
Max Drawdown (10Y) Largest decline over 10 years	-77.96%	-99.66%	+21.70%
Current Drawdown Current decline from peak	-29.39%	-99.69%	+70.30%
Average Drawdown Average peak-to-trough decline	-18.41%	-93.92%	+75.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.40%	34.03%	-15.63%

Volatility

TECL vs. JNUG - Volatility Comparison

Direxion Daily Technology Bull 3X Shares (TECL) and Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) have volatilities of 28.60% and 29.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECL	JNUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.60%	29.35%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	63.52%	91.33%	-27.81%
Volatility (1Y) Calculated over the trailing 1-year period	73.71%	106.74%	-33.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.16%	82.18%	-6.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.33%	106.01%	-32.68%

TECL vs. JNUG - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is lower than JNUG's 1.03% expense ratio.

Dividends

TECL vs. JNUG - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 4.33%, more than JNUG's 2.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	2.52%	1.04%	2.01%	1.62%	0.00%	0.52%	0.10%	0.46%	0.06%	0.51%
TECL Direxion Daily Technology Bull 3X Shares	4.33%	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 JNUG in my portfolio?

TECL and JNUG have a correlation of 0.39, 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 JNUG?

JNUG has higher volatility (29.35%) compared to TECL (28.60%). In terms of maximum drawdown, TECL dropped -77.96% vs JNUG's -99.95%.

Which ETF is better, TECL or JNUG?

On 10-year performance, TECL leads with 47.75% vs -30.17% for JNUG. On fees, TECL is cheaper at 0.91% per year. On volatility, TECL has been the lower-risk option at 28.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECL or JNUG?

Over the 10-year period, TECL has performed better with a 47.75% return vs -30.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECL or JNUG?

TECL is cheaper with a 0.91% expense ratio, compared with 1.03% for JNUG.

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

TECL has the higher dividend yield at 4.33%, compared with 2.52% for JNUG.

What is the main difference between TECL and JNUG?

TECL is categorized as Leveraged Equities, while JNUG is Gold. TECL tracks Technology Select Sector Index (300%), while JNUG tracks MVIS Global Junior Gold Miners Index (200%). Their fees differ too: 0.91% for TECL and 1.03% for JNUG.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (1.38 vs 0.43), 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.