TECS vs. ROM
TECS (Direxion Daily Technology Bear 3X Shares) and ROM (ProShares Ultra Technology) are both Leveraged Equities funds - TECS tracks the Technology Select Sector Index (-300%) while ROM tracks the S&P Technology Select Sector Index (200%). Both are passively managed. Over the past 10 years, TECS returned -62.30%/yr vs 41.78%/yr for ROM. At a correlation of -0.98, they often move in opposite directions. TECS charges 1.08%/yr vs 0.95%/yr for ROM.
Performance
TECS vs. ROM - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -58.96% return, which is significantly lower than ROM's 52.28% return. Over the past 10 years, TECS has underperformed ROM with an annualized return of -62.30%, while ROM has yielded a comparatively higher 41.78% annualized return.
TECS
- 1D
- 1.90%
- 1M
- -11.45%
- YTD
- -58.96%
- 6M
- -56.86%
- 1Y
- -74.77%
- 3Y*
- -62.64%
- 5Y*
- -56.87%
- 10Y*
- -62.30%
ROM
- 1D
- -1.43%
- 1M
- 1.11%
- YTD
- 52.28%
- 6M
- 47.00%
- 1Y
- 97.67%
- 3Y*
- 50.35%
- 5Y*
- 25.38%
- 10Y*
- 41.78%
TECS vs. ROM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -58.96% | -62.44% | -49.76% | -74.45% | 45.05% | -67.92% | -87.79% | -73.77% | -19.14% | -60.81% |
ROM ProShares Ultra Technology | 52.28% | 35.63% | 31.65% | 130.70% | -63.86% | 77.75% | 80.42% | 102.10% | -9.89% | 81.11% |
Correlation
The correlation between TECS and ROM is -1.00, 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 | -1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.98 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2008 | -0.98 |
The correlation between TECS and ROM has been stable across timeframes, ranging from -1.00 to -0.98 - a consistent structural relationship.
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Return for Risk
TECS vs. ROM — Risk / Return Rank
TECS
ROM
TECS vs. ROM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and ProShares Ultra Technology (ROM). 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 | ROM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.16 | ||
| Sortino ratioReturn per unit of downside risk | -4.67 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.33 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 3.04 | -4.00 |
| Martin ratioReturn relative to average drawdown | -1.85 | 8.86 | -10.72 |
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Drawdowns
TECS vs. ROM - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than ROM's maximum drawdown of -83.36%. Use the drawdown chart below to compare losses from any high point for TECS and ROM.
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Drawdown Indicators
| TECS | ROM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -83.36% | -16.64% |
Max Drawdown (1Y)Largest decline over 1 year | -78.10% | -32.33% | -45.77% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -48.10% | -48.12% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | -67.55% | -31.27% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -67.55% | -32.45% |
Current DrawdownCurrent decline from peak | -100.00% | -16.04% | -83.96% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -20.85% | -75.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.56% | 11.06% | +30.50% |
Volatility
TECS vs. ROM - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 36.67% compared to ProShares Ultra Technology (ROM) at 25.39%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than ROM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | ROM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.67% | 25.39% | +11.28% |
Volatility (6M)Calculated over the trailing 6-month period | 58.72% | 39.45% | +19.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.31% | 47.09% | +23.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.69% | 52.53% | +23.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.84% | 50.22% | +22.62% |
TECS vs. ROM - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than ROM's 0.95% expense ratio.
Dividends
TECS vs. ROM - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 7.89%, more than ROM's 0.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ROM ProShares Ultra Technology | 0.16% | 0.24% | 0.21% | 0.01% | 0.00% | 0.00% | 0.05% | 0.16% | 0.30% | 0.08% | 0.20% | 0.12% |
TECS Direxion Daily Technology Bear 3X Shares | 7.89% | 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 ROM have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (36.67%) compared to ROM (25.39%). In terms of maximum drawdown, TECS dropped -100.00% vs ROM's -83.36%.
On 10-year performance, ROM leads with 41.78% vs -62.30% for TECS. On fees, ROM is cheaper at 0.95% per year. On volatility, ROM has been the lower-risk option at 25.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ROM has performed better with a 41.78% return vs -62.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ROM is cheaper with a 0.95% expense ratio, compared with 1.08% for TECS.
TECS has the higher dividend yield at 7.89%, compared with 0.16% for ROM.
TECS tracks Technology Select Sector Index (-300%), while ROM tracks S&P Technology Select Sector Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.08% for TECS and 0.95% for ROM.
ROM currently has the higher Sharpe Ratio (2.09 vs -1.07), 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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