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 -62.60%/yr vs -12.40%/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 -59.96% return, which is significantly lower than NUGT's -35.52% return. Over the past 10 years, TECS has underperformed NUGT with an annualized return of -62.60%, while NUGT has yielded a comparatively higher -12.40% annualized return.
TECS
- 1D
- -2.43%
- 1M
- -6.18%
- YTD
- -59.96%
- 6M
- -57.91%
- 1Y
- -74.73%
- 3Y*
- -63.23%
- 5Y*
- -57.08%
- 10Y*
- -62.60%
NUGT
- 1D
- 3.02%
- 1M
- -29.37%
- YTD
- -35.52%
- 6M
- -41.56%
- 1Y
- 59.76%
- 3Y*
- 52.08%
- 5Y*
- 15.88%
- 10Y*
- -12.40%
TECS vs. NUGT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -59.96% | -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 | -35.52% | 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 |
Over the past year, the inverse relationship between TECS and NUGT has strengthened: their correlation has moved from -0.16 to -0.36, meaning they now move in opposite directions more often than their long-term average.
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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 | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.58 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.18 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 0.95 | -1.91 |
| Martin ratioReturn relative to average drawdown | -1.88 | 2.21 | -4.09 |
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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 | -77.76% | -63.43% | -14.33% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -63.43% | -32.79% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | -73.72% | -25.10% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -96.91% | -3.09% |
Current DrawdownCurrent decline from peak | -100.00% | -99.85% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -91.53% | -5.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.58% | 27.10% | +13.48% |
Volatility
TECS vs. NUGT - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) and Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) have volatilities of 35.84% and 34.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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 | 35.84% | 34.79% | +1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 58.74% | 80.31% | -21.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.18% | 94.54% | -24.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.69% | 73.03% | +2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.83% | 87.98% | -15.15% |
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 8.09%, more than NUGT's 0.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | 0.61% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
TECS Direxion Daily Technology Bear 3X Shares | 8.09% | 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 (35.84%) compared to NUGT (34.79%). In terms of maximum drawdown, TECS dropped -100.00% vs NUGT's -99.97%.
On 10-year performance, NUGT leads with -12.40% vs -62.60% for TECS. On fees, TECS is cheaper at 1.08% per year. On volatility, NUGT has been the lower-risk option at 34.79%. 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 -12.40% return vs -62.60%. 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 8.09%, compared with 0.61% 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 (0.64 vs -1.07), 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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