TECS vs. OOQB
TECS (Direxion Daily Technology Bear 3X Shares) and OOQB (Volatility Shares One+One Nasdaq-100® and Bitcoin ETF) are both exchange-traded funds - TECS is a Leveraged Equities fund tracking the Technology Select Sector Index (-300%), while OOQB is a Nasdaq-100 fund actively managed by Volatility Shares. TECS is passively managed, while OOQB is actively managed. Over the past year, TECS returned -80.92% vs -27.35% for OOQB. At a correlation of -0.61, they often move in opposite directions. TECS charges 1.08%/yr vs 0.75%/yr for OOQB.
Performance
TECS vs. OOQB - 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 OOQB's -18.43% 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%
OOQB
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -18.43%
- 6M
- -24.99%
- 1Y
- -27.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TECS vs. OOQB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -64.31% | -56.78% |
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | -18.43% | -13.30% |
Correlation
The correlation between TECS and OOQB is -0.56, 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 | -0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | -0.61 |
The correlation between TECS and OOQB has been stable across timeframes, ranging from -0.61 to -0.56 - a consistent structural relationship.
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Return for Risk
TECS vs. OOQB — Risk / Return Rank
TECS
OOQB
TECS vs. OOQB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB). 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 | OOQB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.59 | ||
| Omega ratioGain probability vs. loss probability | 0.68 | 0.94 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.51 | -0.48 |
| Martin ratioReturn relative to average drawdown | -1.81 | -0.91 | -0.90 |
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 | OOQB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.30 | -0.53 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.80 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.89 | -0.41 | -0.48 |
Drawdowns
TECS vs. OOQB - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than OOQB's maximum drawdown of -53.44%. Use the drawdown chart below to compare losses from any high point for TECS and OOQB.
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Drawdown Indicators
| TECS | OOQB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -53.44% | -46.56% |
Max Drawdown (1Y)Largest decline over 1 year | -81.50% | -53.44% | -28.06% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -98.88% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -43.69% | -56.31% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -23.26% | -73.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.66% | 30.11% | +14.55% |
Volatility
TECS vs. OOQB - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 21.44% compared to Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) at 0.00%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than OOQB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | OOQB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.44% | 0.00% | +21.44% |
Volatility (6M)Calculated over the trailing 6-month period | 50.52% | 39.39% | +11.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.27% | 51.57% | +10.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.25% | 58.12% | +16.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.17% | 58.12% | +14.05% |
TECS vs. OOQB - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than OOQB's 0.75% expense ratio.
Dividends
TECS vs. OOQB - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 10.91%, less than OOQB's 11.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | 11.62% | 9.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
TECS and OOQB have a correlation of -0.56, 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 OOQB (0.00%). In terms of maximum drawdown, TECS dropped -100.00% vs OOQB's -53.44%.
On 1-year performance, OOQB leads with -27.35% vs -80.92% for TECS. On fees, OOQB is cheaper at 0.75% per year. On volatility, OOQB has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OOQB has performed better with a -27.35% return vs -80.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OOQB is cheaper with a 0.75% expense ratio, compared with 1.08% for TECS.
OOQB has the higher dividend yield at 11.62%, compared with 10.91% for TECS.
TECS is categorized as Leveraged Equities, while OOQB is Nasdaq-100. They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 1.08% for TECS and 0.75% for OOQB.
OOQB currently has the higher Sharpe Ratio (-0.53 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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