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TECS vs. SQQQ
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

TECS vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bear 3X Shares (TECS) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

-100.00%-80.00%-60.00%-40.00%-20.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-100.00%
-100.00%
TECS
SQQQ

Returns By Period

The year-to-date returns for both investments are quite close, with TECS having a -49.23% return and SQQQ slightly higher at -47.90%. Over the past 10 years, TECS has underperformed SQQQ with an annualized return of -56.91%, while SQQQ has yielded a comparatively higher -52.11% annualized return.


TECS

YTD

-49.23%

1M

0.33%

6M

-28.11%

1Y

-55.87%

5Y (annualized)

-64.25%

10Y (annualized)

-56.91%

SQQQ

YTD

-47.90%

1M

-5.01%

6M

-29.06%

1Y

-55.26%

5Y (annualized)

-59.31%

10Y (annualized)

-52.11%

Key characteristics


TECSSQQQ
Sharpe Ratio-0.85-1.04
Sortino Ratio-1.29-1.74
Omega Ratio0.860.81
Calmar Ratio-0.55-0.54
Martin Ratio-1.39-1.40
Ulcer Index39.28%38.96%
Daily Std Dev64.61%52.15%
Max Drawdown-100.00%-100.00%
Current Drawdown-100.00%-100.00%

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TECS vs. SQQQ - Expense Ratio Comparison

TECS has a 1.08% expense ratio, which is higher than SQQQ's 0.95% expense ratio.


TECS
Direxion Daily Technology Bear 3X Shares
Expense ratio chart for TECS: current value at 1.08% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%1.08%
Expense ratio chart for SQQQ: current value at 0.95% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.95%

Correlation

-0.50.00.51.00.9

The correlation between TECS and SQQQ is 0.89, 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.

Risk-Adjusted Performance

TECS vs. SQQQ - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and ProShares UltraPro Short QQQ (SQQQ). 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.


Sharpe ratio
The chart of Sharpe ratio for TECS, currently valued at -0.85, compared to the broader market0.002.004.006.00-0.85-1.04
The chart of Sortino ratio for TECS, currently valued at -1.29, compared to the broader market-2.000.002.004.006.008.0010.0012.00-1.29-1.74
The chart of Omega ratio for TECS, currently valued at 0.86, compared to the broader market0.501.001.502.002.503.000.860.81
The chart of Calmar ratio for TECS, currently valued at -0.55, compared to the broader market0.005.0010.0015.00-0.55-0.54
The chart of Martin ratio for TECS, currently valued at -1.39, compared to the broader market0.0020.0040.0060.0080.00100.00-1.39-1.40
TECS
SQQQ

The current TECS Sharpe Ratio is -0.85, which is comparable to the SQQQ Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of TECS and SQQQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio-1.30-1.20-1.10-1.00-0.90-0.80-0.70JuneJulyAugustSeptemberOctoberNovember
-0.85
-1.04
TECS
SQQQ

Dividends

TECS vs. SQQQ - Dividend Comparison

TECS's dividend yield for the trailing twelve months is around 2.91%, less than SQQQ's 11.22% yield.


TTM2023202220212020201920182017
TECS
Direxion Daily Technology Bear 3X Shares
2.91%5.06%0.00%0.00%1.49%0.54%0.51%0.00%
SQQQ
ProShares UltraPro Short QQQ
11.22%8.01%0.28%0.00%2.15%2.92%1.47%0.14%

Drawdowns

TECS vs. SQQQ - Drawdown Comparison

The maximum TECS drawdown since its inception was -100.00%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TECS and SQQQ. For additional features, visit the drawdowns tool.


-100.00%-100.00%-100.00%-99.99%-99.99%-99.99%JuneJulyAugustSeptemberOctoberNovember
-100.00%
-100.00%
TECS
SQQQ

Volatility

TECS vs. SQQQ - Volatility Comparison

Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 18.60% compared to ProShares UltraPro Short QQQ (SQQQ) at 16.94%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


10.00%15.00%20.00%25.00%30.00%35.00%JuneJulyAugustSeptemberOctoberNovember
18.60%
16.94%
TECS
SQQQ