TECS vs. NUGT
TECS (Direxion Daily Technology Bear 3X Shares) and NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) are both exchange-traded funds - TECS is a Leveraged Equities fund tracking the Technology Select Sector Index (-300%), while NUGT is a Gold fund tracking the MarketVector Global Gold Miners Index (200%). Both are passively managed. Over the past 10 years, TECS returned -61.22%/yr vs -15.94%/yr for NUGT. At a correlation of -0.16, they often move in opposite directions. TECS charges 1.08%/yr vs 1.13%/yr for NUGT.
Performance
TECS vs. NUGT - 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 NUGT's -43.28% return. Over the past 10 years, TECS has underperformed NUGT with an annualized return of -61.22%, while NUGT has yielded a comparatively higher -15.94% 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%
NUGT
- 1D
- -7.01%
- 1M
- -34.26%
- 6M
- -55.58%
- YTD
- -43.28%
- 1Y
- 42.42%
- 3Y*
- 40.37%
- 5Y*
- 13.60%
- 10Y*
- -15.94%
TECS vs. NUGT - 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% |
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | -43.28% | 425.05% | 2.89% | 2.60% | -32.10% | -26.31% | -60.16% | 100.73% | -44.52% | 3.73% |
Correlation
The correlation between TECS and NUGT is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010 | -0.16 |
The correlation between TECS and NUGT shifts across timeframes, from -0.36 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TECS vs. NUGT — Risk / Return Rank
TECS
NUGT
TECS vs. NUGT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Direxion Daily Gold Miners Index Bull 2X ETF (NUGT). 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 | NUGT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.16 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 0.64 | -1.55 |
| Martin ratioReturn relative to average drawdown | -1.72 | 1.38 | -3.10 |
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Drawdowns
TECS vs. NUGT - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, roughly equal to the maximum NUGT drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for TECS and NUGT.
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Drawdown Indicators
| TECS | NUGT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.97% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -76.16% | -66.74% | -9.42% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -66.74% | -29.48% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | -73.72% | -25.10% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -96.91% | -3.08% |
Current DrawdownCurrent decline from peak | -100.00% | -99.87% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -96.77% | -91.56% | -5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.31% | 30.85% | +9.46% |
Volatility
TECS vs. NUGT - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 29.37% compared to Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) at 23.78%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than NUGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | NUGT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.37% | 23.78% | +5.59% |
Volatility (6M)Calculated over the trailing 6-month period | 62.76% | 80.17% | -17.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.64% | 95.33% | -21.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.34% | 73.34% | +3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.12% | 87.69% | -14.57% |
TECS vs. NUGT - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is lower than NUGT's 1.13% expense ratio.
Dividends
TECS vs. NUGT - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 7.39%, more than NUGT's 0.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | 0.69% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
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% |
Frequently Asked Questions
TECS and NUGT have a correlation of -0.36, 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 NUGT (23.78%). In terms of maximum drawdown, TECS dropped -100.00% vs NUGT's -99.97%.
On 10-year performance, NUGT leads with -15.94% vs -61.22% for TECS. On fees, TECS is cheaper at 1.08% per year. On volatility, NUGT has been the lower-risk option at 23.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NUGT has performed better with a -15.94% return vs -61.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECS is cheaper with a 1.08% expense ratio, compared with 1.13% for NUGT.
TECS has the higher dividend yield at 7.39%, compared with 0.69% for NUGT.
TECS is categorized as Leveraged Equities, while NUGT is Gold. TECS tracks Technology Select Sector Index (-300%), while NUGT tracks MarketVector Global Gold Miners Index (200%). Their fees differ too: 1.08% for TECS and 1.13% for NUGT.
NUGT currently has the higher Sharpe Ratio (0.45 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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