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 -62.51%/yr vs 5.32%/yr for DIG. At a correlation of -0.43, 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 -64.31% return, which is significantly lower than DIG's 66.35% return. Over the past 10 years, TECS has underperformed DIG with an annualized return of -62.51%, while DIG has yielded a comparatively higher 5.32% annualized return.
TECS
- 1D
- 2.85%
- 1M
- -45.32%
- YTD
- -64.31%
- 6M
- -63.84%
- 1Y
- -80.92%
- 3Y*
- -64.76%
- 5Y*
- -59.06%
- 10Y*
- -62.51%
DIG
- 1D
- 2.57%
- 1M
- -3.48%
- YTD
- 66.35%
- 6M
- 59.45%
- 1Y
- 90.00%
- 3Y*
- 23.37%
- 5Y*
- 28.29%
- 10Y*
- 5.32%
TECS vs. DIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -64.31% | -62.44% | -49.76% | -74.45% | 45.05% | -67.92% | -87.79% | -73.77% | -19.14% | -60.81% |
DIG ProShares Ultra Oil & Gas | 66.35% | 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 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.27 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2008 | -0.43 |
The correlation between TECS and DIG shifts across timeframes, from -0.43 (all time) to 0.12 (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.
| TECS | DIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.52 | ||
| Sortino ratioReturn per unit of downside risk | -5.70 | ||
| Omega ratioGain probability vs. loss probability | 0.68 | 1.33 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 3.89 | -4.88 |
| Martin ratioReturn relative to average drawdown | -1.81 | 10.65 | -12.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TECS | DIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.30 | 2.22 | -3.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.80 | 0.55 | -1.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.87 | 0.09 | -0.96 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.89 | -0.00 | -0.89 |
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 | -81.50% | -23.29% | -58.21% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -42.41% | -53.81% |
Max Drawdown (5Y)Largest decline over 5 years | -98.88% | -46.02% | -52.86% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -92.53% | -7.47% |
Current DrawdownCurrent decline from peak | -100.00% | -51.27% | -48.73% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -64.37% | -32.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.66% | 8.49% | +36.17% |
Volatility
TECS vs. DIG - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 21.44% compared to ProShares Ultra Oil & Gas (DIG) at 16.56%. 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 | 21.44% | 16.56% | +4.88% |
Volatility (6M)Calculated over the trailing 6-month period | 50.52% | 33.14% | +17.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.27% | 40.88% | +21.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.25% | 51.59% | +22.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.17% | 57.81% | +14.36% |
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 10.91%, more than DIG's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 1.50% | 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 | 10.91% | 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 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (21.44%) compared to DIG (16.56%). In terms of maximum drawdown, TECS dropped -100.00% vs DIG's -97.04%.
On 10-year performance, DIG leads with 5.32% vs -62.51% for TECS. On fees, DIG is cheaper at 0.95% per year. On volatility, DIG has been the lower-risk option at 16.56%. 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 5.32% return vs -62.51%. 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 10.91%, compared with 1.50% 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 (2.22 vs -1.30), 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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