TECL vs. TQQQ

Last updated Jul 14, 2026

TECL (Direxion Daily Technology Bull 3X Shares) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds - TECL tracks the Technology Select Sector Index (300%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, TECL returned 48.80%/yr vs 42.27%/yr for TQQQ. With a 0.96 correlation, they move nearly in lockstep. TECL charges 0.91%/yr vs 0.95%/yr for TQQQ.

Performance

TECL vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bull 3X Shares (TECL) and ProShares UltraPro QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TECL achieves a 67.57% return, which is significantly higher than TQQQ's 38.33% return. Over the past 10 years, TECL has outperformed TQQQ with an annualized return of 48.80%, while TQQQ has yielded a comparatively lower 42.27% annualized return.

TECL

• 1D: -7.18%
• 1M: -8.73%
• 6M: 58.81%
• YTD: 67.57%
• 1Y: 118.06%
• 3Y*: 55.96%
• 5Y*: 28.04%
• 10Y*: 48.80%

TQQQ

• 1D: -5.70%
• 1M: -6.08%
• 6M: 30.48%
• YTD: 38.33%
• 1Y: 74.65%
• 3Y*: 50.58%
• 5Y*: 18.33%
• 10Y*: 42.27%

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

TECL vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TECL Direxion Daily Technology Bull 3X Shares	67.57%	38.60%	36.15%	203.14%	-74.32%	112.80%	69.46%	185.58%	-24.03%	124.82%
TQQQ ProShares UltraPro QQQ	38.33%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between TECL and TQQQ is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.96

The correlation between TECL and TQQQ has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

TECL vs. TQQQ - Sectors Allocation Comparison

Sectors	TECL	TQQQ
Technology	20.8%	53.8%
Energy	0.0%	0.6%
Industrials	0.0%	2.8%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Financial Services	-	0.2%
Healthcare	-	4.2%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

TECL vs. TQQQ — Risk / Return Rank

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

TECL

TECL Risk / Return Rank: 56
TECL Sharpe Ratio Rank: 61
TECL Sortino Ratio Rank: 52
TECL Omega Ratio Rank: 54
TECL Calmar Ratio Rank: 64
TECL Martin Ratio Rank: 50

TQQQ

TQQQ Risk / Return Rank: 48
TQQQ Sharpe Ratio Rank: 49
TQQQ Sortino Ratio Rank: 45
TQQQ Omega Ratio Rank: 46
TQQQ Calmar Ratio Rank: 51
TQQQ Martin Ratio Rank: 47

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. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) and ProShares UltraPro QQQ (TQQQ). 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	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.36	+0.27
Sortino ratio: Return per unit of downside risk	2.05	1.85	+0.20
Omega ratio: Gain probability vs. loss probability	1.27	1.24	+0.03
Calmar ratio: Return relative to maximum drawdown	2.55	2.03	+0.52
Martin ratio: Return relative to average drawdown	6.67	6.23	+0.44

TECL vs. TQQQ - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 1.63, which is comparable to the TQQQ Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of TECL and TQQQ, 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. TQQQ - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, roughly equal to the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for TECL and TQQQ.

Drawdown Indicators

	TECL	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-81.66%	+3.70%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-36.97%	-9.61%
Max Drawdown (3Y) Largest decline over 3 years	-66.58%	-58.04%	-8.54%
Max Drawdown (5Y) Largest decline over 5 years	-77.96%	-81.66%	+3.70%
Max Drawdown (10Y) Largest decline over 10 years	-77.96%	-81.66%	+3.70%
Current Drawdown Current decline from peak	-28.03%	-16.52%	-11.51%
Average Drawdown Average peak-to-trough decline	-18.40%	-18.48%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.77%	12.02%	+5.75%

Volatility

TECL vs. TQQQ - Volatility Comparison

Direxion Daily Technology Bull 3X Shares (TECL) has a higher volatility of 32.87% compared to ProShares UltraPro QQQ (TQQQ) at 25.43%. This indicates that TECL's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECL	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.87%	25.43%	+7.44%
Volatility (6M) Calculated over the trailing 6-month period	62.58%	45.80%	+16.78%
Volatility (1Y) Calculated over the trailing 1-year period	72.88%	55.32%	+17.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.05%	67.74%	+8.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.24%	66.40%	+6.84%

TECL vs. TQQQ - Expense Ratio Comparison

TECL has a 0.91% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

TECL vs. TQQQ - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 4.25%, more than TQQQ's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TECL Direxion Daily Technology Bull 3X Shares	4.25%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.52%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both TECL and TQQQ in my portfolio?

With a correlation of 0.94, TECL and TQQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TECL or TQQQ?

TECL has higher volatility (32.87%) compared to TQQQ (25.43%). In terms of maximum drawdown, TECL dropped -77.96% vs TQQQ's -81.66%.

Which ETF is better, TECL or TQQQ?

On 10-year performance, TECL leads with 48.80% vs 42.27% for TQQQ. On fees, TECL is cheaper at 0.91% per year. On volatility, TQQQ has been the lower-risk option at 25.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECL or TQQQ?

Over the 10-year period, TECL has performed better with a 48.80% return vs 42.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECL or TQQQ?

TECL is cheaper with a 0.91% expense ratio, compared with 0.95% for TQQQ.

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

TECL has the higher dividend yield at 4.25%, compared with 0.52% for TQQQ.

What is the main difference between TECL and TQQQ?

TECL tracks Technology Select Sector Index (300%), while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.91% for TECL and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (1.63 vs 1.36), 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.