TECS vs. QTJL

Last updated Jun 24, 2026

TECS (Direxion Daily Technology Bear 3X Shares) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. TECS is passively managed, while QTJL is actively managed. Over the past 3 years, TECS returned -62.98%/yr vs 19.09%/yr for QTJL. At a correlation of -0.90, they often move in opposite directions. TECS charges 1.08%/yr vs 0.79%/yr for QTJL.

Performance

TECS vs. QTJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bear 3X Shares (TECS) and Innovator Growth Accelerated Plus ETF - July (QTJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TECS achieves a -60.06% return, which is significantly lower than QTJL's 7.38% 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%

QTJL

• 1D: -0.04%
• 1M: 0.44%
• YTD: 7.38%
• 6M: 6.82%
• 1Y: 18.59%
• 3Y*: 19.09%
• 5Y*: —
• 10Y*: —

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

TECS vs. QTJL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TECS Direxion Daily Technology Bear 3X Shares	-60.06%	-62.44%	-49.76%	-74.45%	45.05%	-45.37%
QTJL Innovator Growth Accelerated Plus ETF - July	7.38%	21.07%	16.50%	42.39%	-30.16%	9.36%

Correlation

The correlation between TECS and QTJL is -0.79, 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	-0.79
Correlation (3Y) Calculated over the trailing 3-year period	-0.86
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	-0.90

The correlation between TECS and QTJL shifts across timeframes, from -0.90 (all time) to -0.79 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TECS vs. QTJL — Risk / Return Rank

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

TECS

TECS Risk / Return Rank: 0
TECS Sharpe Ratio Rank: 1
TECS Sortino Ratio Rank: 0
TECS Omega Ratio Rank: 0
TECS Calmar Ratio Rank: 1
TECS Martin Ratio Rank: 0

QTJL

QTJL Risk / Return Rank: 67
QTJL Sharpe Ratio Rank: 61
QTJL Sortino Ratio Rank: 63
QTJL Omega Ratio Rank: 71
QTJL Calmar Ratio Rank: 61
QTJL Martin Ratio Rank: 80

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. QTJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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	QTJL	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	1.89	-2.99
Sortino ratio: Return per unit of downside risk	-2.39	2.70	-5.10
Omega ratio: Gain probability vs. loss probability	0.75	1.39	-0.64
Calmar ratio: Return relative to maximum drawdown	-0.98	2.79	-3.77
Martin ratio: Return relative to average drawdown	-1.86	14.72	-16.58

TECS vs. QTJL - Sharpe Ratio Comparison

The current TECS Sharpe Ratio is -1.10, which is lower than the QTJL Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of TECS and QTJL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TECS vs. QTJL - Drawdown Comparison

The maximum TECS drawdown since its inception was -100.00%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for TECS and QTJL.

Drawdown Indicators

	TECS	QTJL	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-33.40%	-66.60%
Max Drawdown (1Y) Largest decline over 1 year	-78.66%	-6.68%	-71.98%
Max Drawdown (3Y) Largest decline over 3 years	-96.22%	-22.43%	-73.79%
Max Drawdown (5Y) Largest decline over 5 years	-98.82%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-100.00%	—	—
Current Drawdown Current decline from peak	-100.00%	-0.04%	-99.96%
Average Drawdown Average peak-to-trough decline	-96.76%	-7.85%	-88.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.87%	1.27%	+42.60%

Volatility

TECS vs. QTJL - Volatility Comparison

Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 36.37% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 0.60%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECS	QTJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	36.37%	0.60%	+35.77%
Volatility (6M) Calculated over the trailing 6-month period	58.81%	7.42%	+51.39%
Volatility (1Y) Calculated over the trailing 1-year period	70.17%	9.88%	+60.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.65%	20.31%	+55.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.84%	20.31%	+52.53%

TECS vs. QTJL - Expense Ratio Comparison

TECS has a 1.08% expense ratio, which is higher than QTJL's 0.79% expense ratio.

Dividends

TECS vs. QTJL - Dividend Comparison

TECS's dividend yield for the trailing twelve months is around 9.75%, while QTJL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
QTJL Innovator Growth Accelerated Plus ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both TECS and QTJL in my portfolio?

TECS and QTJL have a correlation of -0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TECS or QTJL?

TECS has higher volatility (36.37%) compared to QTJL (0.60%). In terms of maximum drawdown, TECS dropped -100.00% vs QTJL's -33.40%.

Which ETF is better, TECS or QTJL?

On 3-year performance, QTJL leads with 19.09% vs -62.98% for TECS. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECS or QTJL?

Over the 3-year period, QTJL has performed better with a 19.09% return vs -62.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECS or QTJL?

QTJL is cheaper with a 0.79% expense ratio, compared with 1.08% for TECS.

Which ETF pays a higher dividend yield, TECS or QTJL?

TECS has the higher dividend yield at 9.75%, compared with 0.00% for QTJL.

What is the main difference between TECS and QTJL?

They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.08% for TECS and 0.79% for QTJL.

Which has better risk-adjusted returns?

QTJL currently has the higher Sharpe Ratio (1.89 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.