TECS vs. TERG

Last updated Jun 4, 2026

TECS (Direxion Daily Technology Bear 3X Shares) and TERG (Leverage Shares 2X Long TER Daily ETF) are both Leveraged Equities funds. TECS is passively managed, while TERG is actively managed. At a correlation of -0.61, they often move in opposite directions. TECS charges 1.08%/yr vs 0.75%/yr for TERG.

Performance

TECS vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bear 3X Shares (TECS) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TECS achieves a -64.31% return, which is significantly lower than TERG's 229.64% return.

TECS

• 1D: 2.85%
• 1M: -45.32%
• YTD: -64.31%
• 6M: -63.84%
• 1Y: -80.92%
• 3Y*: -64.76%
• 5Y*: -59.06%
• 10Y*: -62.51%

TERG

• 1D: 8.49%
• 1M: 39.95%
• YTD: 229.64%
• 6M: 218.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TECS vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
TECS Direxion Daily Technology Bear 3X Shares	-64.31%	-5.90%
TERG Leverage Shares 2X Long TER Daily ETF	229.64%	28.17%

Correlation

The correlation between TECS and TERG is -0.61, 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 (All Time) Calculated using the full available price history since Nov 18, 2025	-0.61

Return for Risk

TECS vs. TERG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TECS

TECS Risk / Return Rank: 0
TECS Sharpe Ratio Rank: 0
TECS Sortino Ratio Rank: 0
TECS Omega Ratio Rank: 0
TECS Calmar Ratio Rank: 0
TECS Martin Ratio Rank: 0

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TECS vs. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Leverage Shares 2X Long TER Daily ETF (TERG). 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	TERG	Difference
Sharpe ratio: Return per unit of total volatility	-1.30	—	—
Sortino ratio: Return per unit of downside risk	-3.09	—	—
Omega ratio: Gain probability vs. loss probability	0.68	—	—
Calmar ratio: Return relative to maximum drawdown	-0.99	—	—
Martin ratio: Return relative to average drawdown	-1.81	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TECS	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.30	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.80	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.89	9.90	-10.79

Drawdowns

TECS vs. TERG - Drawdown Comparison

The maximum TECS drawdown since its inception was -100.00%, which is greater than TERG's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for TECS and TERG.

Drawdown Indicators

	TECS	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-49.52%	-50.48%
Max Drawdown (1Y) Largest decline over 1 year	-81.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-96.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-98.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-100.00%	—	—
Current Drawdown Current decline from peak	-100.00%	-15.98%	-84.02%
Average Drawdown Average peak-to-trough decline	-96.76%	-13.73%	-83.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.66%	—	—

Volatility

Volatility by Period

	TECS	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	50.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	62.27%	139.25%	-76.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.25%	139.25%	-65.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.17%	139.25%	-67.08%

TECS vs. TERG - Expense Ratio Comparison

TECS has a 1.08% expense ratio, which is higher than TERG's 0.75% expense ratio.

Dividends

TECS vs. TERG - Dividend Comparison

TECS's dividend yield for the trailing twelve months is around 10.91%, while TERG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
TECS Direxion Daily Technology Bear 3X Shares	10.91%	5.83%	5.24%	7.52%	0.00%	0.00%	1.50%	2.40%	0.72%
TERG Leverage Shares 2X Long TER Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TECS and TERG in my portfolio?

TECS and TERG have a correlation of -0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TECS or TERG?

On fees, TERG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TECS or TERG?

TERG is cheaper with a 0.75% expense ratio, compared with 1.08% for TECS.

Which ETF pays a higher dividend yield, TECS or TERG?

TECS has the higher dividend yield at 10.91%, compared with 0.00% for TERG.

What is the main difference between TECS and TERG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.08% for TECS and 0.75% for TERG.