TECS vs. DIG
TECS (Direxion Daily Technology Bear 3X Shares) and DIG (ProShares Ultra Oil & Gas) are both Leveraged Equities funds - TECS tracks the Technology Select Sector Index (-300%) while DIG tracks the Dow Jones U.S. Oil & Gas Index (200%). Both are passively managed. Over the past 10 years, TECS returned -61.22%/yr vs 3.82%/yr for DIG. At a correlation of -0.42, they often move in opposite directions. TECS charges 1.08%/yr vs 0.95%/yr for DIG.
Performance
TECS vs. DIG - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -56.17% return, which is significantly lower than DIG's 57.02% return. Over the past 10 years, TECS has underperformed DIG with an annualized return of -61.22%, while DIG has yielded a comparatively higher 3.82% annualized return.
TECS
- 1D
- 6.95%
- 1M
- 11.35%
- 6M
- -54.81%
- YTD
- -56.17%
- 1Y
- -69.26%
- 3Y*
- -59.70%
- 5Y*
- -55.35%
- 10Y*
- -61.22%
DIG
- 1D
- 1.92%
- 1M
- 6.49%
- 6M
- 39.50%
- YTD
- 57.02%
- 1Y
- 68.08%
- 3Y*
- 19.43%
- 5Y*
- 33.20%
- 10Y*
- 3.82%
TECS vs. DIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -56.17% | -62.44% | -49.76% | -74.45% | 45.05% | -67.92% | -87.79% | -73.77% | -19.14% | -60.81% |
DIG ProShares Ultra Oil & Gas | 57.02% | 2.73% | 0.93% | -13.04% | 125.34% | 115.63% | -70.36% | 12.51% | -40.11% | -7.39% |
Correlation
The correlation between TECS and DIG is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2008 | -0.42 |
The correlation between TECS and DIG shifts across timeframes, from -0.42 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TECS vs. DIG — Risk / Return Rank
TECS
DIG
TECS vs. DIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and ProShares Ultra Oil & Gas (DIG). 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.
| TECS | DIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -3.85 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.26 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 2.30 | -3.21 |
| Martin ratioReturn relative to average drawdown | -1.72 | 5.96 | -7.68 |
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Drawdowns
TECS vs. DIG - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, roughly equal to the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for TECS and DIG.
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Drawdown Indicators
| TECS | DIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -97.04% | -2.96% |
Max Drawdown (1Y)Largest decline over 1 year | -76.16% | -29.80% | -46.36% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -42.41% | -53.81% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | -46.02% | -52.80% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -92.53% | -7.46% |
Current DrawdownCurrent decline from peak | -100.00% | -54.00% | -46.00% |
Average DrawdownAverage peak-to-trough decline | -96.77% | -64.31% | -32.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.31% | 11.46% | +28.85% |
Volatility
TECS vs. DIG - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 29.37% compared to ProShares Ultra Oil & Gas (DIG) at 12.34%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than DIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | DIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.37% | 12.34% | +17.03% |
Volatility (6M)Calculated over the trailing 6-month period | 62.76% | 33.38% | +29.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.64% | 41.89% | +31.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.34% | 51.35% | +24.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.12% | 57.79% | +15.33% |
TECS vs. DIG - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than DIG's 0.95% expense ratio.
Dividends
TECS vs. DIG - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 7.39%, more than DIG's 1.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 1.58% | 2.62% | 3.13% | 0.61% | 1.33% | 2.24% | 3.18% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% |
TECS Direxion Daily Technology Bear 3X Shares | 7.39% | 5.83% | 5.24% | 7.52% | 0.00% | 0.00% | 1.50% | 2.40% | 0.72% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TECS and DIG have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (29.37%) compared to DIG (12.34%). In terms of maximum drawdown, TECS dropped -100.00% vs DIG's -97.04%.
On 10-year performance, DIG leads with 3.82% vs -61.22% for TECS. On fees, DIG is cheaper at 0.95% per year. On volatility, DIG has been the lower-risk option at 12.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DIG has performed better with a 3.82% return vs -61.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIG is cheaper with a 0.95% expense ratio, compared with 1.08% for TECS.
TECS has the higher dividend yield at 7.39%, compared with 1.58% for DIG.
TECS tracks Technology Select Sector Index (-300%), while DIG tracks Dow Jones U.S. Oil & Gas Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.08% for TECS and 0.95% for DIG.
DIG currently has the higher Sharpe Ratio (1.64 vs -0.94), 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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