TECL vs. NVDG

Last updated Aug 5, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. TECL is passively managed, while NVDG is actively managed. Over the past year, TECL returned 117.04% vs 8.42% for NVDG. Their 0.75 correlation means they have sometimes moved together and sometimes differently. TECL charges 0.91%/yr vs 0.75%/yr for NVDG.

Performance

TECL vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bull 3X Shares (TECL) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TECL achieves a 77.71% return, which is significantly higher than NVDG's 10.88% return.

TECL

• 1D: 14.98%
• 1M: 6.72%
• 6M: 88.27%
• YTD: 77.71%
• 1Y: 117.04%
• 3Y*: 64.24%
• 5Y*: 28.73%
• 10Y*: 47.77%
• ALL TIME*: 48.13%

NVDG

• 1D: 5.28%
• 1M: 16.34%
• 6M: 20.84%
• YTD: 10.88%
• 1Y: 8.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.01%

*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)
NVDG Leverage Shares 2X Long NVDA Daily ETF	$3.07M	$3.99M	$6.16M
TECL Direxion Daily Technology Bull 3X Shares	$156.89M	$152.83M	$226.69M

TECL vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TECL Direxion Daily Technology Bull 3X Shares	77.71%	38.60%	-7.74%
NVDG Leverage Shares 2X Long NVDA Daily ETF	10.88%	32.45%	-0.52%

Correlation

The correlation between TECL and NVDG is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.75

The correlation between TECL and NVDG has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.

Return for Risk

TECL vs. NVDG — Risk / Return Rank

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

TECL

TECL Risk / Return Rank: 54
TECL Sharpe Ratio Rank: 56
TECL Sortino Ratio Rank: 51
TECL Omega Ratio Rank: 50
TECL Calmar Ratio Rank: 65
TECL Martin Ratio Rank: 47

NVDG

NVDG Risk / Return Rank: 15
NVDG Sharpe Ratio Rank: 12
NVDG Sortino Ratio Rank: 18
NVDG Omega Ratio Rank: 17
NVDG Calmar Ratio Rank: 13
NVDG Martin Ratio Rank: 13

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. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). 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	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	1.52	0.12	+1.41
Sortino ratio: Return per unit of downside risk	2.05	0.68	+1.37
Omega ratio: Gain probability vs. loss probability	1.26	1.08	+0.18
Calmar ratio: Return relative to maximum drawdown	2.53	0.20	+2.33
Martin ratio: Return relative to average drawdown	5.97	0.38	+5.58

TECL vs. NVDG - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 1.52, which is higher than the NVDG Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of TECL and NVDG, 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. NVDG - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for TECL and NVDG.

Drawdown Indicators

	TECL	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-66.19%	-11.77%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-42.72%	-3.86%
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	-23.68%	-23.86%	+0.18%
Average Drawdown Average peak-to-trough decline	-18.45%	-23.53%	+5.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.69%	22.08%	-2.39%

Volatility

TECL vs. NVDG - Volatility Comparison

Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 30.57% compared to Leverage Shares 2X Long NVDA Daily ETF (NVDG) at 25.30%. This indicates that TECL's price experiences larger fluctuations and is considered to be riskier than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECL	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.57%	25.30%	+5.27%
Volatility (6M) Calculated over the trailing 6-month period	66.53%	56.10%	+10.43%
Volatility (1Y) Calculated over the trailing 1-year period	77.41%	72.44%	+4.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.96%	89.73%	-12.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.75%	89.73%	-15.98%

TECL vs. NVDG - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

TECL vs. NVDG - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 4.01%, less than NVDG's 10.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NVDG Leverage Shares 2X Long NVDA Daily ETF	10.65%	11.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TECL Direxion Daily Technology Bull 3X Shares	4.01%	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 NVDG in my portfolio?

TECL and NVDG have a correlation of 0.69, 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 NVDG?

TECL has higher volatility (30.57%) compared to NVDG (25.30%). In terms of maximum drawdown, TECL dropped -77.96% vs NVDG's -66.19%.

Which ETF is better, TECL or NVDG?

On 1-year performance, TECL leads with 117.04% vs 8.42% for NVDG. On fees, NVDG is cheaper at 0.75% per year. On volatility, NVDG has been the lower-risk option at 25.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECL or NVDG?

Over the 1-year period, TECL has performed better with a 117.04% return vs 8.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECL or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 0.91% for TECL.

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

NVDG has the higher dividend yield at 10.65%, compared with 4.01% for TECL.

What is the main difference between TECL and NVDG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.91% for TECL and 0.75% for NVDG.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (1.52 vs 0.12), 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.