TECS vs. QQQE

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Daily Technology Bear 3X Shares (TECS) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE).

TECS and QQQE 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. QQQE is a passively managed fund by Direxion that tracks the performance of the NASDAQ-100 Equal Weighted Index. It was launched on Mar 21, 2012. Both TECS and QQQE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

TECS vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bear 3X Shares (TECS) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

TECS vs. QQQE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TECS Direxion Daily Technology Bear 3X Shares	14.77%	-62.44%	-49.76%	-74.45%	45.05%	-67.92%	-87.79%	-73.77%	-19.14%	-60.81%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	-2.88%	14.58%	6.98%	33.76%	-24.47%	17.93%	37.85%	36.43%	-5.40%	26.53%

Returns By Period

In the year-to-date period, TECS achieves a 14.77% return, which is significantly higher than QQQE's -2.88% return. Over the past 10 years, TECS has underperformed QQQE with an annualized return of -57.71%, while QQQE has yielded a comparatively higher 13.30% annualized return.

TECS

• 1D: -4.51%
• 1M: 7.09%
• YTD: 14.77%
• 6M: 6.74%
• 1Y: -67.05%
• 3Y*: -53.11%
• 5Y*: -49.73%
• 10Y*: -57.71%

QQQE

• 1D: 0.68%
• 1M: -4.20%
• YTD: -2.88%
• 6M: -2.59%
• 1Y: 13.91%
• 3Y*: 11.84%
• 5Y*: 6.34%
• 10Y*: 13.30%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TECS vs. QQQE - Expense Ratio Comparison

TECS has a 1.08% expense ratio, which is higher than QQQE's 0.35% expense ratio.

TECS

Direxion Daily Technology Bear 3X Shares

QQQE

Direxion NASDAQ-100 Equal Weighted Index Shares

Return for Risk

TECS vs. QQQE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TECS

TECS Risk / Return Rank: 2
TECS Sharpe Ratio Rank: 1
TECS Sortino Ratio Rank: 1
TECS Omega Ratio Rank: 1
TECS Calmar Ratio Rank: 1
TECS Martin Ratio Rank: 4

QQQE

QQQE Risk / Return Rank: 39
QQQE Sharpe Ratio Rank: 34
QQQE Sortino Ratio Rank: 37
QQQE Omega Ratio Rank: 38
QQQE Calmar Ratio Rank: 42
QQQE Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TECS vs. QQQE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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	QQQE	Difference
Sharpe ratio Return per unit of total volatility	-0.84	0.68	-1.52
Sortino ratio Return per unit of downside risk	-1.27	1.13	-2.39
Omega ratio Gain probability vs. loss probability	0.83	1.16	-0.33
Calmar ratio Return relative to maximum drawdown	-0.82	1.14	-1.95
Martin ratio Return relative to average drawdown	-0.93	4.59	-5.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TECS vs. QQQE - Sharpe Ratio Comparison

The current TECS Sharpe Ratio is -0.84, which is lower than the QQQE Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of TECS and QQQE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TECS	QQQE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.84	0.68	-1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.68	0.31	-0.99
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.81	0.64	-1.45
Sharpe Ratio (All Time) Calculated using the full available price history	-0.85	0.69	-1.54

Correlation

The correlation between TECS and QQQE is -0.86. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

TECS vs. QQQE - Dividend Comparison

TECS's dividend yield for the trailing twelve months is around 3.39%, more than QQQE's 0.64% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TECS Direxion Daily Technology Bear 3X Shares	3.39%	5.83%	5.24%	7.52%	0.00%	0.00%	1.50%	2.40%	0.72%	0.00%	0.00%	0.00%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.64%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%

Drawdowns

TECS vs. QQQE - Drawdown Comparison

The maximum TECS drawdown since its inception was -100.00%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for TECS and QQQE.

Drawdown Indicators

	TECS	QQQE	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-32.14%	-67.86%
Max Drawdown (1Y) Largest decline over 1 year	-83.03%	-12.74%	-70.29%
Max Drawdown (5Y) Largest decline over 5 years	-97.73%	-32.14%	-65.59%
Max Drawdown (10Y) Largest decline over 10 years	-99.99%	-32.14%	-67.85%
Current Drawdown Current decline from peak	-100.00%	-6.45%	-93.55%
Average Drawdown Average peak-to-trough decline	-96.73%	-5.22%	-91.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	72.71%	3.16%	+69.55%

Volatility

TECS vs. QQQE - Volatility Comparison

Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 24.63% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 5.64%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECS	QQQE	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.63%	5.64%	+18.99%
Volatility (6M) Calculated over the trailing 6-month period	49.05%	11.05%	+38.00%
Volatility (1Y) Calculated over the trailing 1-year period	80.20%	20.47%	+59.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.71%	20.32%	+53.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.67%	20.71%	+50.96%