TECS vs. FNGD
Compare and contrast key facts about Direxion Daily Technology Bear 3X Shares (TECS) and MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD).
TECS and FNGD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TECS 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. FNGD is a passively managed fund by BMO Financial Group that tracks the performance of the NYSE FANG+ Index (-300%). It was launched on Jan 22, 2018. Both TECS and FNGD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TECS or FNGD.
Performance
TECS vs. FNGD - Performance Comparison
Returns By Period
In the year-to-date period, TECS achieves a -48.14% return, which is significantly higher than FNGD's -70.12% return.
TECS
-48.14%
0.84%
-27.50%
-55.69%
-63.96%
-56.85%
FNGD
-70.12%
-10.16%
-44.17%
-75.15%
-77.55%
N/A
Key characteristics
| TECS | FNGD | |
|---|---|---|
| Sharpe Ratio | -0.86 | -1.05 |
| Sortino Ratio | -1.32 | -2.18 |
| Omega Ratio | 0.85 | 0.76 |
| Calmar Ratio | -0.55 | -0.75 |
| Martin Ratio | -1.42 | -1.35 |
| Ulcer Index | 38.96% | 55.58% |
| Daily Std Dev | 64.83% | 71.40% |
| Max Drawdown | -100.00% | -99.98% |
| Current Drawdown | -99.99% | -99.98% |
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TECS vs. FNGD - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than FNGD's 0.95% expense ratio.
Correlation
The correlation between TECS and FNGD is 0.86, 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.
Risk-Adjusted Performance
TECS vs. FNGD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD). 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.
Dividends
TECS vs. FNGD - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 1.74%, while FNGD has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | 1.74% | 6.40% | 0.00% | 0.00% | 1.49% | 2.10% | 0.54% |
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TECS vs. FNGD - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, roughly equal to the maximum FNGD drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for TECS and FNGD. For additional features, visit the drawdowns tool.
Volatility
TECS vs. FNGD - Volatility Comparison
The current volatility for Direxion Daily Technology Bear 3X Shares (TECS) is 18.52%, while MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a volatility of 19.58%. This indicates that TECS experiences smaller price fluctuations and is considered to be less risky than FNGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.