TECS vs. TQQQ
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 -62.60%/yr vs 46.45%/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
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Returns By Period
In the year-to-date period, TECS achieves a -59.96% return, which is significantly lower than TQQQ's 42.40% return. Over the past 10 years, TECS has underperformed TQQQ with an annualized return of -62.60%, while TQQQ has yielded a comparatively higher 46.45% annualized return.
TECS
- 1D
- -2.43%
- 1M
- -6.18%
- YTD
- -59.96%
- 6M
- -57.91%
- 1Y
- -74.73%
- 3Y*
- -63.23%
- 5Y*
- -57.08%
- 10Y*
- -62.60%
TQQQ
- 1D
- 2.25%
- 1M
- -8.54%
- YTD
- 42.40%
- 6M
- 35.61%
- 1Y
- 91.80%
- 3Y*
- 60.52%
- 5Y*
- 21.71%
- 10Y*
- 46.45%
TECS vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -59.96% | -62.44% | -49.76% | -74.45% | 45.05% | -67.92% | -87.79% | -73.77% | -19.14% | -60.81% |
TQQQ ProShares UltraPro QQQ | 42.40% | 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 11, 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.
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Return for Risk
TECS vs. TQQQ — Risk / Return Rank
TECS
TQQQ
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.
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 | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.80 | ||
| Sortino ratioReturn per unit of downside risk | -4.39 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.29 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.50 | -3.46 |
| Martin ratioReturn relative to average drawdown | -1.88 | 7.89 | -9.77 |
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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
| TECS | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -81.66% | -18.34% |
Max Drawdown (1Y)Largest decline over 1 year | -77.76% | -36.97% | -40.79% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -58.04% | -38.18% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | -81.66% | -17.16% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -81.66% | -18.34% |
Current DrawdownCurrent decline from peak | -100.00% | -14.07% | -85.93% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -18.49% | -78.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.58% | 11.67% | +28.91% |
Volatility
TECS vs. TQQQ - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 35.84% compared to ProShares UltraPro QQQ (TQQQ) at 26.81%. 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
| TECS | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 35.84% | 26.81% | +9.03% |
Volatility (6M)Calculated over the trailing 6-month period | 58.74% | 43.27% | +15.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.18% | 53.22% | +16.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.69% | 67.42% | +8.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.83% | 66.30% | +6.53% |
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 8.09%, more than TQQQ's 0.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | 8.09% | 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 | 0.27% | 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 (35.84%) compared to TQQQ (26.81%). In terms of maximum drawdown, TECS dropped -100.00% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 46.45% vs -62.60% for TECS. On fees, TQQQ is cheaper at 0.95% per year. On volatility, TQQQ has been the lower-risk option at 26.81%. 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 46.45% return vs -62.60%. 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 8.09%, compared with 0.27% 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 (1.73 vs -1.07), 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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