TECS vs. QQQE
TECS (Direxion Daily Technology Bear 3X Shares) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - TECS is a Leveraged Equities fund tracking the Technology Select Sector Index (-300%), while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past 10 years, TECS returned -62.40%/yr vs 15.77%/yr for QQQE. At a correlation of -0.86, they often move in opposite directions. TECS charges 1.08%/yr vs 0.35%/yr for QQQE.
Performance
TECS vs. QQQE - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -60.06% return, which is significantly lower than QQQE's 16.25% return. Over the past 10 years, TECS has underperformed QQQE with an annualized return of -62.40%, while QQQE has yielded a comparatively higher 15.77% annualized return.
TECS
- 1D
- 11.54%
- 1M
- -13.82%
- YTD
- -60.06%
- 6M
- -58.34%
- 1Y
- -76.73%
- 3Y*
- -62.98%
- 5Y*
- -57.09%
- 10Y*
- -62.40%
QQQE
- 1D
- -2.31%
- 1M
- 1.82%
- YTD
- 16.25%
- 6M
- 14.96%
- 1Y
- 24.99%
- 3Y*
- 17.55%
- 5Y*
- 9.11%
- 10Y*
- 15.77%
TECS vs. QQQE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -60.06% | -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 | 16.25% | 14.58% | 6.98% | 33.76% | -24.47% | 17.93% | 37.85% | 36.43% | -5.40% | 26.53% |
Correlation
The correlation between TECS and QQQE is -0.81, 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 | -0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.89 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2012 | -0.86 |
The correlation between TECS and QQQE has been stable across timeframes, ranging from -0.89 to -0.81 - a consistent structural relationship.
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Return for Risk
TECS vs. QQQE — Risk / Return Rank
TECS
QQQE
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.
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 | QQQE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -4.59 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.28 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 2.67 | -3.65 |
| Martin ratioReturn relative to average drawdown | -1.86 | 8.96 | -10.82 |
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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.
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Drawdown Indicators
| TECS | QQQE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -32.14% | -67.86% |
Max Drawdown (1Y)Largest decline over 1 year | -78.66% | -9.41% | -69.25% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -21.38% | -74.84% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | -32.14% | -66.68% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -32.14% | -67.86% |
Current DrawdownCurrent decline from peak | -100.00% | -3.24% | -96.76% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -5.16% | -91.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.87% | 2.80% | +41.07% |
Volatility
TECS vs. QQQE - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 36.37% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 8.11%. 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.
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Volatility by Period
| TECS | QQQE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.37% | 8.11% | +28.26% |
Volatility (6M)Calculated over the trailing 6-month period | 58.81% | 12.74% | +46.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.17% | 15.68% | +54.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.65% | 20.55% | +55.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.84% | 20.80% | +52.04% |
TECS vs. QQQE - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than QQQE's 0.35% expense ratio.
Dividends
TECS vs. QQQE - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 9.75%, more than QQQE's 0.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.53% | 0.52% | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.57% |
TECS Direxion Daily Technology Bear 3X Shares | 9.75% | 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 QQQE have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (36.37%) compared to QQQE (8.11%). In terms of maximum drawdown, TECS dropped -100.00% vs QQQE's -32.14%.
On 10-year performance, QQQE leads with 15.77% vs -62.40% for TECS. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 8.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QQQE has performed better with a 15.77% return vs -62.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQE is cheaper with a 0.35% expense ratio, compared with 1.08% for TECS.
TECS has the higher dividend yield at 9.75%, compared with 0.53% for QQQE.
TECS is categorized as Leveraged Equities, while QQQE is Nasdaq-100. TECS tracks Technology Select Sector Index (-300%), while QQQE tracks NASDAQ-100 Equal Weighted Index. Their fees differ too: 1.08% for TECS and 0.35% for QQQE.
QQQE currently has the higher Sharpe Ratio (1.60 vs -1.10), 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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