TECL vs. TSMX

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily Technology Bull 3X Shares (TECL) and Direxion Daily TSM Bull 2X Shares (TSMX).

TECL and TSMX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TECL is a passively managed fund by Direxion that tracks the performance of the Technology Select Sector Index (300%). It was launched on Dec 17, 2008. TSMX is an actively managed fund by Direxion. It was launched on Oct 3, 2024.

Performance

TECL vs. TSMX - 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 TSM Bull 2X Shares (TSMX). The values are adjusted to include any dividend payments, if applicable.

TECL vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TECL Direxion Daily Technology Bull 3X Shares	-26.26%	38.60%	7.83%
TSMX Direxion Daily TSM Bull 2X Shares	16.15%	81.48%	14.76%

Returns By Period

In the year-to-date period, TECL achieves a -26.26% return, which is significantly lower than TSMX's 16.15% return.

TECL

• 1D: 12.84%
• 1M: -14.10%
• YTD: -26.26%
• 6M: -25.99%
• 1Y: 57.56%
• 3Y*: 35.75%
• 5Y*: 16.44%
• 10Y*: 37.20%

TSMX

• 1D: 13.81%
• 1M: -20.58%
• YTD: 16.15%
• 6M: 30.27%
• 1Y: 227.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TECL vs. TSMX - Expense Ratio Comparison

TECL has a 1.08% expense ratio, which is higher than TSMX's 1.05% expense ratio.

TECL

Direxion Daily Technology Bull 3X Shares

TSMX

Direxion Daily TSM Bull 2X Shares

Return for Risk

TECL vs. TSMX — Risk / Return Rank

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

TECL

TECL Risk / Return Rank: 51
TECL Sharpe Ratio Rank: 42
TECL Sortino Ratio Rank: 59
TECL Omega Ratio Rank: 58
TECL Calmar Ratio Rank: 54
TECL Martin Ratio Rank: 40

TSMX

TSMX Risk / Return Rank: 96
TSMX Sharpe Ratio Rank: 97
TSMX Sortino Ratio Rank: 95
TSMX Omega Ratio Rank: 91
TSMX Calmar Ratio Rank: 98
TSMX Martin Ratio Rank: 97

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. TSMX - 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 TSM Bull 2X Shares (TSMX). 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.

	TECL	TSMX	Difference
Sharpe ratio Return per unit of total volatility	0.73	2.95	-2.23
Sortino ratio Return per unit of downside risk	1.45	3.08	-1.63
Omega ratio Gain probability vs. loss probability	1.20	1.39	-0.18
Calmar ratio Return relative to maximum drawdown	1.24	6.59	-5.34
Martin ratio Return relative to average drawdown	3.49	20.50	-17.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TECL vs. TSMX - Sharpe Ratio Comparison

The current TECL Sharpe Ratio is 0.73, which is lower than the TSMX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of TECL and TSMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TECL	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	2.95	-2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	1.01	-0.38

Correlation

The correlation between TECL and TSMX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TECL vs. TSMX - Dividend Comparison

TECL's dividend yield for the trailing twelve months is around 9.63%, more than TSMX's 7.11% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TECL Direxion Daily Technology Bull 3X Shares	9.63%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%
TSMX Direxion Daily TSM Bull 2X Shares	7.11%	8.01%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

TECL vs. TSMX - Drawdown Comparison

The maximum TECL drawdown since its inception was -77.96%, which is greater than TSMX's maximum drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for TECL and TSMX.

Drawdown Indicators

	TECL	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-77.96%	-63.80%	-14.16%
Max Drawdown (1Y) Largest decline over 1 year	-46.58%	-34.93%	-11.65%
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	-39.72%	-25.94%	-13.78%
Average Drawdown Average peak-to-trough decline	-18.48%	-16.74%	-1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.58%	11.22%	+5.36%

Volatility

TECL vs. TSMX - Volatility Comparison

The current volatility for Direxion Daily Technology Bull 3X Shares (TECL) is 24.14%, while Direxion Daily TSM Bull 2X Shares (TSMX) has a volatility of 29.06%. This indicates that TECL experiences smaller price fluctuations and is considered to be less risky than TSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECL	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.14%	29.06%	-4.92%
Volatility (6M) Calculated over the trailing 6-month period	49.30%	54.61%	-5.31%
Volatility (1Y) Calculated over the trailing 1-year period	79.75%	77.49%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.54%	81.26%	-7.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.84%	81.26%	-9.42%