TECS vs. SGOV
TECS (Direxion Daily Technology Bear 3X Shares) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - TECS is a Leveraged Equities fund tracking the Technology Select Sector Index (-300%), while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, TECS returned -58.69%/yr vs 3.54%/yr for SGOV. At a 0.01 correlation, their price movements are largely independent. TECS charges 1.08%/yr vs 0.09%/yr for SGOV.
Performance
TECS vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -62.68% return, which is significantly lower than SGOV's 1.52% return.
TECS
- 1D
- 4.57%
- 1M
- -38.78%
- YTD
- -62.68%
- 6M
- -61.81%
- 1Y
- -79.89%
- 3Y*
- -64.46%
- 5Y*
- -58.69%
- 10Y*
- -62.30%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.52%
- 6M
- 1.79%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
TECS vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -62.68% | -62.44% | -49.76% | -74.45% | 45.05% | -67.92% | -68.45% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.52% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between TECS and SGOV is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | 0.01 |
The correlation between TECS and SGOV shifts across timeframes, from 0.01 (5 years) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TECS vs. SGOV — Risk / Return Rank
TECS
SGOV
TECS vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.56 | ||
| Sortino ratioReturn per unit of downside risk | -278.66 | ||
| Omega ratioGain probability vs. loss probability | 0.69 | 195.55 | -194.86 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 398.20 | -399.18 |
| Martin ratioReturn relative to average drawdown | -1.78 | 4,462.00 | -4,463.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TECS | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.28 | 20.28 | -21.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.79 | 14.74 | -15.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.86 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.89 | 12.49 | -13.37 |
Drawdowns
TECS vs. SGOV - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for TECS and SGOV.
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Drawdown Indicators
| TECS | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -0.03% | -99.97% |
Max Drawdown (1Y)Largest decline over 1 year | -81.50% | -0.01% | -81.49% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -0.01% | -96.21% |
Max Drawdown (5Y)Largest decline over 5 years | -98.88% | -0.03% | -98.85% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | 0.00% | -100.00% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -0.00% | -96.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.95% | 0.00% | +44.95% |
Volatility
TECS vs. SGOV - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 22.21% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.21% | 0.05% | +22.16% |
Volatility (6M)Calculated over the trailing 6-month period | 50.75% | 0.13% | +50.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.38% | 0.20% | +62.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.24% | 0.24% | +74.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.17% | 0.24% | +71.93% |
TECS vs. SGOV - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
TECS vs. SGOV - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 10.43%, more than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% |
TECS Direxion Daily Technology Bear 3X Shares | 10.43% | 5.83% | 5.24% | 7.52% | 0.00% | 0.00% | 1.50% | 2.40% | 0.72% |
Frequently Asked Questions
TECS and SGOV have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (22.21%) compared to SGOV (0.05%). In terms of maximum drawdown, TECS dropped -100.00% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.54% vs -58.69% for TECS. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.54% return vs -58.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 1.08% for TECS.
TECS has the higher dividend yield at 10.43%, compared with 3.86% for SGOV.
TECS is categorized as Leveraged Equities, while SGOV is Ultrashort Bond. TECS tracks Technology Select Sector Index (-300%), while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.08% for TECS and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -1.28), 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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