TECS vs. FTEC
TECS (Direxion Daily Technology Bear 3X Shares) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - TECS is a Leveraged Equities fund tracking the Technology Select Sector Index (-300%), while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, TECS returned -62.30%/yr vs 25.40%/yr for FTEC. At a correlation of -0.99, they often move in opposite directions. TECS charges 1.08%/yr vs 0.08%/yr for FTEC.
Performance
TECS vs. FTEC - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -62.68% return, which is significantly lower than FTEC's 30.73% return. Over the past 10 years, TECS has underperformed FTEC with an annualized return of -62.30%, while FTEC has yielded a comparatively higher 25.40% annualized return.
TECS
- 1D
- 4.57%
- 1M
- -38.78%
- YTD
- -62.68%
- 6M
- -61.81%
- 1Y
- -79.89%
- 3Y*
- -64.46%
- 5Y*
- -58.69%
- 10Y*
- -62.30%
FTEC
- 1D
- -0.88%
- 1M
- 15.13%
- YTD
- 30.73%
- 6M
- 28.96%
- 1Y
- 59.04%
- 3Y*
- 33.80%
- 5Y*
- 22.27%
- 10Y*
- 25.40%
TECS vs. FTEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -62.68% | -62.44% | -49.76% | -74.45% | 45.05% | -67.92% | -87.79% | -73.77% | -19.14% | -60.81% |
FTEC Fidelity MSCI Information Technology Index ETF | 30.73% | 22.11% | 29.40% | 53.30% | -29.59% | 30.49% | 45.83% | 48.93% | -0.39% | 36.83% |
Correlation
The correlation between TECS and FTEC is -0.99, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2013 | -0.99 |
The correlation between TECS and FTEC has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.
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Return for Risk
TECS vs. FTEC — Risk / Return Rank
TECS
FTEC
TECS vs. FTEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Fidelity MSCI Information Technology Index ETF (FTEC). 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 | FTEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.16 | ||
| Sortino ratioReturn per unit of downside risk | -6.54 | ||
| Omega ratioGain probability vs. loss probability | 0.69 | 1.46 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 3.65 | -4.63 |
| Martin ratioReturn relative to average drawdown | -1.78 | 11.73 | -13.51 |
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 | FTEC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.28 | 2.88 | -4.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.79 | 0.89 | -1.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.86 | 1.03 | -1.90 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.89 | 0.98 | -1.87 |
Drawdowns
TECS vs. FTEC - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for TECS and FTEC.
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Drawdown Indicators
| TECS | FTEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -34.95% | -65.05% |
Max Drawdown (1Y)Largest decline over 1 year | -81.50% | -16.26% | -65.24% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -27.30% | -68.92% |
Max Drawdown (5Y)Largest decline over 5 years | -98.88% | -34.95% | -63.93% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -34.95% | -65.05% |
Current DrawdownCurrent decline from peak | -100.00% | -2.36% | -97.64% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -5.56% | -91.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.95% | 5.05% | +39.90% |
Volatility
TECS vs. FTEC - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 22.21% compared to Fidelity MSCI Information Technology Index ETF (FTEC) at 6.56%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | FTEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.21% | 6.56% | +15.65% |
Volatility (6M)Calculated over the trailing 6-month period | 50.75% | 16.16% | +34.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.38% | 20.61% | +41.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.24% | 25.22% | +49.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.17% | 24.69% | +47.48% |
TECS vs. FTEC - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than FTEC's 0.08% expense ratio.
Dividends
TECS vs. FTEC - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 10.43%, more than FTEC's 0.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTEC Fidelity MSCI Information Technology Index ETF | 0.32% | 0.43% | 0.49% | 0.77% | 0.93% | 0.63% | 0.83% | 1.03% | 1.20% | 0.96% | 1.25% | 1.27% |
TECS Direxion Daily Technology Bear 3X Shares | 10.43% | 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 FTEC have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (22.21%) compared to FTEC (6.56%). In terms of maximum drawdown, TECS dropped -100.00% vs FTEC's -34.95%.
On 10-year performance, FTEC leads with 25.40% vs -62.30% for TECS. On fees, FTEC is cheaper at 0.08% per year. On volatility, FTEC has been the lower-risk option at 6.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FTEC has performed better with a 25.40% return vs -62.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTEC is cheaper with a 0.08% expense ratio, compared with 1.08% for TECS.
TECS has the higher dividend yield at 10.43%, compared with 0.32% for FTEC.
TECS is categorized as Leveraged Equities, while FTEC is Technology Equities. TECS tracks Technology Select Sector Index (-300%), while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: Direxion and Fidelity. Their fees differ too: 1.08% for TECS and 0.08% for FTEC.
FTEC currently has the higher Sharpe Ratio (2.88 vs -1.28), 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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