TECS vs. REW
Compare and contrast key facts about Direxion Daily Technology Bear 3X Shares (TECS) and ProShares UltraShort Technology (REW).
TECS and REW 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. REW is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Technology Index (-200%). It was launched on Jan 30, 2007. Both TECS and REW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TECS or REW.
Key characteristics
| TECS | REW | |
|---|---|---|
| YTD Return | -53.19% | -36.40% |
| 1Y Return | -64.67% | -47.33% |
| 3Y Return (Ann) | -47.73% | -27.18% |
| 5Y Return (Ann) | -64.76% | -45.67% |
| 10Y Return (Ann) | -57.39% | -40.26% |
| Sharpe Ratio | -0.99 | -1.05 |
| Sortino Ratio | -1.76 | -1.68 |
| Omega Ratio | 0.81 | 0.81 |
| Calmar Ratio | -0.64 | -0.47 |
| Martin Ratio | -1.46 | -1.48 |
| Ulcer Index | 44.11% | 31.65% |
| Daily Std Dev | 64.79% | 44.33% |
| Max Drawdown | -100.00% | -99.98% |
| Current Drawdown | -100.00% | -99.98% |
Correlation
The correlation between TECS and REW is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
TECS vs. REW - Performance Comparison
In the year-to-date period, TECS achieves a -53.19% return, which is significantly lower than REW's -36.40% return. Over the past 10 years, TECS has underperformed REW with an annualized return of -57.39%, while REW has yielded a comparatively higher -40.26% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TECS vs. REW - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than REW's 0.95% expense ratio.
Risk-Adjusted Performance
TECS vs. REW - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and ProShares UltraShort Technology (REW). 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.
Dividends
TECS vs. REW - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 4.84%, less than REW's 6.78% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | 4.84% | 5.73% | 0.00% | 0.00% | 0.15% | 1.35% | 0.33% |
REW ProShares UltraShort Technology | 6.78% | 5.98% | 0.22% | 0.00% | 0.28% | 1.80% | 0.50% |
Drawdowns
TECS vs. REW - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, roughly equal to the maximum REW drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for TECS and REW. For additional features, visit the drawdowns tool.
Volatility
TECS vs. REW - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 18.24% compared to ProShares UltraShort Technology (REW) at 11.96%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than REW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.