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TECL vs. SPUU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TECL vs. SPUU

Last updated Jun 25, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds from Direxion - TECL tracks the Technology Select Sector Index (300%) while SPUU tracks the S&P 500 Index (200% Daily). Both are passively managed. Over the past 10 years, TECL returned 52.24%/yr vs 24.79%/yr for SPUU. Their correlation of 0.87 suggests significant overlap in exposure. TECL charges 0.91%/yr vs 0.60%/yr for SPUU.

Performance

TECL vs. SPUU - 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 S&P 500 Bull 2X ETF (SPUU). 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 75.80% return, which is significantly higher than SPUU's 13.21% return. Over the past 10 years, TECL has outperformed SPUU with an annualized return of 52.24%, while SPUU has yielded a comparatively lower 24.79% annualized return.

TECL

1D
-1.95%
1M
-0.73%
YTD
75.80%
6M
66.96%
1Y
151.38%
3Y*
64.81%
5Y*
33.35%
10Y*
52.24%

SPUU

1D
-0.25%
1M
-3.30%
YTD
13.21%
6M
10.18%
1Y
39.63%
3Y*
34.28%
5Y*
18.24%
10Y*
24.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TECL vs. SPUU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TECL
Direxion Daily Technology Bull 3X Shares		75.80%38.60%36.15%203.14%-74.32%112.80%69.46%185.58%-24.03%124.82%
SPUU
Direxion Daily S&P 500 Bull 2X ETF		13.21%26.55%44.25%47.28%-38.72%61.27%21.85%66.84%-14.59%44.33%

Correlation

The correlation between TECL and SPUU is 0.86, 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

0.86

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

0.88

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

0.91

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

0.87

Correlation (All Time)
Calculated using the full available price history since Jun 6, 2014

0.87

The correlation between TECL and SPUU has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

TECL vs. SPUU - Sectors Allocation Comparison

Sectors
TECL
SPUU

Technology

22.4%
39.0%

Energy

0.0%
3.1%

Industrials

0.0%
7.8%

Basic Materials

-

1.7%

Communication Services

-

10.6%

Consumer Cyclical

-

9.9%

Consumer Defensive

-

4.5%

Financial Services

-

11.1%

Healthcare

-

8.3%

Real Estate

-

1.8%

Utilities

-

2.1%

Technology

TECL
22.4%
SPUU
39.0%

Energy

TECL
0.0%
SPUU
3.1%

Industrials

TECL
0.0%
SPUU
7.8%

Basic Materials

TECL

-

SPUU
1.7%

Communication Services

TECL

-

SPUU
10.6%

Consumer Cyclical

TECL

-

SPUU
9.9%

Consumer Defensive

TECL

-

SPUU
4.5%

Financial Services

TECL

-

SPUU
11.1%

Healthcare

TECL

-

SPUU
8.3%

Real Estate

TECL

-

SPUU
1.8%

Utilities

TECL

-

SPUU
2.1%

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Direxion Daily Technology Bull 3X Shares

Direxion Daily S&P 500 Bull 2X ETF

Often compared with TECL:
TECL vs. TQQQTECL vs. SOXLTECL vs. TECSTECL vs. QQQTECL vs. FNGUTECL vs. BULZTECL vs. VGT
Often compared with SPUU:
SPUU vs. SSOSPUU vs. SPYSPUU vs. SPXLSPUU vs. VOOSPUU vs. QLDSPUU vs. DDMSPUU vs. QQQ

Return for Risk

TECL vs. SPUU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TECL
TECL Risk / Return Rank: 6464
Overall Rank
TECL Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
TECL Sortino Ratio Rank: 5656
Sortino Ratio Rank
TECL Omega Ratio Rank: 5858
Omega Ratio Rank
TECL Calmar Ratio Rank: 7272
Calmar Ratio Rank
TECL Martin Ratio Rank: 5656
Martin Ratio Rank
SPUU
SPUU Risk / Return Rank: 5050
Overall Rank
SPUU Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
SPUU Sortino Ratio Rank: 4646
Sortino Ratio Rank
SPUU Omega Ratio Rank: 4848
Omega Ratio Rank
SPUU Calmar Ratio Rank: 4949
Calmar Ratio Rank
SPUU Martin Ratio Rank: 5858
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. SPUU - 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 S&P 500 Bull 2X ETF (SPUU). 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.

TECLSPUUDifference
Sharpe ratioReturn per unit of total volatility
2.18
1.59

+0.59

Sortino ratioReturn per unit of downside risk
2.41
2.11

+0.29

Omega ratioGain probability vs. loss probability

1.32

1.28

+0.05

Calmar ratioReturn relative to maximum drawdown

3.27

2.19

+1.08

Martin ratioReturn relative to average drawdown

8.98

9.27

-0.29

TECL vs. SPUU - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 2.18, which is higher than the SPUU Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of TECL and SPUU, 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. SPUU - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for TECL and SPUU.

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Drawdown Indicators

TECLSPUUDifference

Max Drawdown

Largest peak-to-trough decline

-77.96%

-59.35%

-18.61%

Max Drawdown (1Y)

Largest decline over 1 year

-46.58%

-18.19%

-28.39%

Max Drawdown (3Y)

Largest decline over 3 years

-66.58%

-35.18%

-31.40%

Max Drawdown (5Y)

Largest decline over 5 years

-77.96%

-46.59%

-31.37%

Max Drawdown (10Y)

Largest decline over 10 years

-77.96%

-59.35%

-18.61%

Current Drawdown

Current decline from peak

-24.50%

-6.72%

-17.78%

Average Drawdown

Average peak-to-trough decline

-18.38%

-9.48%

-8.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.92%

4.29%

+12.63%

Volatility

TECL vs. SPUU - Volatility Comparison

Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 38.17% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 9.63%. This indicates that TECL's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TECLSPUUDifference

Volatility (1M)

Calculated over the trailing 1-month period

38.17%

9.63%

+28.54%

Volatility (6M)

Calculated over the trailing 6-month period

59.11%

19.85%

+39.26%

Volatility (1Y)

Calculated over the trailing 1-year period

70.02%

25.15%

+44.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

75.49%

33.67%

+41.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

73.00%

35.80%

+37.20%

TECL vs. SPUU - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is higher than SPUU's 0.60% expense ratio.

Dividends

TECL vs. SPUU - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 4.05%, more than SPUU's 1.39% yield.

PositionTTM20252024202320222021202020192018201720162015
SPUU
Direxion Daily S&P 500 Bull 2X ETF		1.39%1.63%0.55%0.83%0.88%3.04%8.03%1.80%5.50%6.96%8.08%4.42%
TECL
Direxion Daily Technology Bull 3X Shares		4.05%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

TECL and SPUU have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TECL has higher volatility (38.17%) compared to SPUU (9.63%). In terms of maximum drawdown, TECL dropped -77.96% vs SPUU's -59.35%.

On 10-year performance, TECL leads with 52.24% vs 24.79% for SPUU. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 9.63%. 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 52.24% return vs 24.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPUU is cheaper with a 0.60% expense ratio, compared with 0.91% for TECL.

TECL has the higher dividend yield at 4.05%, compared with 1.39% for SPUU.

TECL tracks Technology Select Sector Index (300%), while SPUU tracks S&P 500 Index (200% Daily). Their fees differ too: 0.91% for TECL and 0.60% for SPUU.

TECL currently has the higher Sharpe Ratio (2.18 vs 1.59), 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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