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TECS vs. TQQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TECS vs. TQQQ

Last updated Jun 4, 2026

TECS (Direxion Daily Technology Bear 3X Shares) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds - TECS tracks the Technology Select Sector Index (-300%) while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, TECS returned -62.51%/yr vs 45.33%/yr for TQQQ. At a correlation of -0.96, they often move in opposite directions. TECS charges 1.08%/yr vs 0.95%/yr for TQQQ.

Performance

TECS vs. TQQQ - 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 QQQ (TQQQ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TECS achieves a -64.31% return, which is significantly lower than TQQQ's 64.46% return. Over the past 10 years, TECS has underperformed TQQQ with an annualized return of -62.51%, while TQQQ has yielded a comparatively higher 45.33% annualized 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%

TQQQ

1D
-0.76%
1M
33.35%
YTD
64.46%
6M
55.93%
1Y
137.89%
3Y*
69.49%
5Y*
28.37%
10Y*
45.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TECS vs. TQQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TECS
Direxion Daily Technology Bear 3X Shares		-64.31%-62.44%-49.76%-74.45%45.05%-67.92%-87.79%-73.77%-19.14%-60.81%
TQQQ
ProShares UltraPro QQQ		64.46%34.35%58.27%198.04%-79.09%82.98%110.05%133.84%-19.79%118.06%

Correlation

The correlation between TECS and TQQQ is -0.93, 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

-0.93

Correlation (3Y)
Calculated over the trailing 3-year period

-0.95

Correlation (5Y)
Calculated over the trailing 5-year period

-0.96

Correlation (10Y)
Calculated over the trailing 10-year period

-0.96

Correlation (All Time)
Calculated using the full available price history since Feb 12, 2010

-0.96

The correlation between TECS and TQQQ has been stable across timeframes, ranging from -0.96 to -0.93 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily Technology Bear 3X Shares

ProShares UltraPro QQQ

Often compared with TECS:
TECS vs. TECLTECS vs. VGTTECS vs. SQQQTECS vs. REWTECS vs. FNGDTECS vs. TZATECS vs. BERZ
Often compared with TQQQ:
TQQQ vs. QQQTQQQ vs. SOXLTQQQ vs. QLDTQQQ vs. SQQQTQQQ vs. SPXLTQQQ vs. UPROTQQQ vs. TECL

Return for Risk

TECS vs. TQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TECS
TECS Risk / Return Rank: 00
Overall Rank
TECS Sharpe Ratio Rank: 00
Sharpe Ratio Rank
TECS Sortino Ratio Rank: 00
Sortino Ratio Rank
TECS Omega Ratio Rank: 00
Omega Ratio Rank
TECS Calmar Ratio Rank: 00
Calmar Ratio Rank
TECS Martin Ratio Rank: 00
Martin Ratio Rank
TQQQ
TQQQ Risk / Return Rank: 7171
Overall Rank
TQQQ Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
TQQQ Sortino Ratio Rank: 6565
Sortino Ratio Rank
TQQQ Omega Ratio Rank: 6565
Omega Ratio Rank
TQQQ Calmar Ratio Rank: 7373
Calmar Ratio Rank
TQQQ Martin Ratio Rank: 6666
Martin Ratio Rank
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. TQQQ - Risk-Adjusted Trends Comparison

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

TECSTQQQDifference

Sharpe ratio

Return per unit of total volatility

-1.30

2.92

-4.22

Sortino ratio

Return per unit of downside risk

-3.09

3.09

-6.18

Omega ratio

Gain probability vs. loss probability

0.68

1.40

-0.72

Calmar ratio

Return relative to maximum drawdown

-0.99

3.75

-4.75

Martin ratio

Return relative to average drawdown

-1.81

12.27

-14.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TECS vs. TQQQ - Sharpe Ratio Comparison

The current TECS Sharpe Ratio is -1.30, which is lower than the TQQQ Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of TECS and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

TECSTQQQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.30

2.92

-4.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.80

0.43

-1.23

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.87

0.69

-1.56

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.89

0.74

-1.63

Drawdowns

TECS vs. TQQQ - Drawdown Comparison

The maximum TECS drawdown since its inception was -100.00%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for TECS and TQQQ.

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Drawdown Indicators

TECSTQQQDifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-81.66%

-18.34%

Max Drawdown (1Y)

Largest decline over 1 year

-81.50%

-36.97%

-44.53%

Max Drawdown (3Y)

Largest decline over 3 years

-96.22%

-58.04%

-38.18%

Max Drawdown (5Y)

Largest decline over 5 years

-98.88%

-81.66%

-17.22%

Max Drawdown (10Y)

Largest decline over 10 years

-100.00%

-81.66%

-18.34%

Current Drawdown

Current decline from peak

-100.00%

-0.76%

-99.24%

Average Drawdown

Average peak-to-trough decline

-96.76%

-18.52%

-78.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

44.66%

11.28%

+33.38%

Volatility

TECS vs. TQQQ - Volatility Comparison

Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 21.44% compared to ProShares UltraPro QQQ (TQQQ) at 13.29%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TECSTQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

21.44%

13.29%

+8.15%

Volatility (6M)

Calculated over the trailing 6-month period

50.52%

36.04%

+14.48%

Volatility (1Y)

Calculated over the trailing 1-year period

62.27%

47.60%

+14.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

74.25%

66.53%

+7.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

72.17%

65.96%

+6.21%

TECS vs. TQQQ - Expense Ratio Comparison

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

Dividends

TECS vs. TQQQ - Dividend Comparison

TECS's dividend yield for the trailing twelve months is around 10.91%, more than TQQQ's 0.36% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%0.00%
TQQQ
ProShares UltraPro QQQ		0.36%0.65%1.27%1.26%0.57%0.00%0.00%0.06%0.11%0.00%0.00%0.01%

Frequently Asked Questions

TECS and TQQQ have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TECS has higher volatility (21.44%) compared to TQQQ (13.29%). In terms of maximum drawdown, TECS dropped -100.00% vs TQQQ's -81.66%.

On 10-year performance, TQQQ leads with 45.33% vs -62.51% for TECS. On fees, TQQQ is cheaper at 0.95% per year. On volatility, TQQQ has been the lower-risk option at 13.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, TQQQ has performed better with a 45.33% return vs -62.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

TQQQ is cheaper with a 0.95% expense ratio, compared with 1.08% for TECS.

TECS has the higher dividend yield at 10.91%, compared with 0.36% for TQQQ.

TECS tracks Technology Select Sector Index (-300%), while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.08% for TECS and 0.95% for TQQQ.

TQQQ currently has the higher Sharpe Ratio (2.92 vs -1.30), 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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