TECS vs. SKRE
TECS (Direxion Daily Technology Bear 3X Shares) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both Inverse Equities funds - TECS tracks the Technology Select Sector Index (-300%) while SKRE tracks the S&P Regional Banks Select Industry. Both are passively managed. Over the past year, TECS returned -69.62% vs -49.41% for SKRE. Their 0.29 correlation means their historical movements had little consistent relationship. TECS charges 1.01%/yr vs 0.75%/yr for SKRE.
Performance
TECS vs. SKRE - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -55.78% return, which is significantly lower than SKRE's -33.64% return.
TECS
- 1D
- 0.41%
- 1M
- 4.74%
- 6M
- -55.63%
- YTD
- -55.78%
- 1Y
- -69.62%
- 3Y*
- -59.51%
- 5Y*
- -54.69%
- 10Y*
- -60.95%
- ALL TIME*
- -57.85%
SKRE
- 1D
- -0.47%
- 1M
- -3.55%
- 6M
- -24.32%
- YTD
- -33.64%
- 1Y
- -49.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -41.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $138.55K | $152.58K | $246.42K | |
| $26.82M | $44.05M | $62.80M |
TECS vs. SKRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -55.78% | -62.44% | -54.95% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | -33.64% | -31.29% | -44.47% |
Correlation
The correlation between TECS and SKRE is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024 | 0.29 |
The correlation between TECS and SKRE shifts across timeframes, from 0.19 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TECS vs. SKRE — Risk / Return Rank
TECS
SKRE
TECS vs. SKRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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 | SKRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.82 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.92 | +0.03 |
| Martin ratioReturn relative to average drawdown | -1.58 | -1.55 | -0.03 |
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Drawdowns
TECS vs. SKRE - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than SKRE's maximum drawdown of -79.33%. Use the drawdown chart below to compare losses from any high point for TECS and SKRE.
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Drawdown Indicators
| TECS | SKRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -79.33% | -20.67% |
Max Drawdown (1Y)Largest decline over 1 year | -76.16% | -51.44% | -24.72% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -78.48% | -21.52% |
Average DrawdownAverage peak-to-trough decline | -96.78% | -49.04% | -47.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.80% | 30.59% | +12.21% |
Volatility
TECS vs. SKRE - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 29.88% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 11.05%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | SKRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.88% | 11.05% | +18.83% |
Volatility (6M)Calculated over the trailing 6-month period | 65.87% | 30.36% | +35.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.74% | 46.00% | +30.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.85% | 54.78% | +22.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.44% | 54.78% | +18.66% |
TECS vs. SKRE - Expense Ratio Comparison
TECS has a 1.01% expense ratio, which is higher than SKRE's 0.75% expense ratio.
Dividends
TECS vs. SKRE - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 7.33%, more than SKRE's 0.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | 0.39% | 0.26% | 3.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECS Direxion Daily Technology Bear 3X Shares | 7.33% | 5.83% | 5.24% | 7.52% | 0.00% | 0.00% | 1.50% | 2.40% | 0.72% |
Frequently Asked Questions
TECS and SKRE have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (29.88%) compared to SKRE (11.05%). In terms of maximum drawdown, TECS dropped -100.00% vs SKRE's -79.33%.
On 1-year performance, SKRE leads with -49.41% vs -69.62% for TECS. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 11.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SKRE has performed better with a -49.41% return vs -69.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKRE is cheaper with a 0.75% expense ratio, compared with 1.01% for TECS.
TECS has the higher dividend yield at 7.33%, compared with 0.39% for SKRE.
TECS tracks Technology Select Sector Index (-300%), while SKRE tracks S&P Regional Banks Select Industry. They also come from different issuers: Direxion and Tuttle. Their fees differ too: 1.01% for TECS and 0.75% for SKRE.
TECS currently has the higher Sharpe Ratio (-0.88 vs -1.04), 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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