TECS vs. TSLL
TECS (Direxion Daily Technology Bear 3X Shares) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - TECS is a Inverse Equities fund tracking the Technology Select Sector Index (-300%), while TSLL is a Leveraged Equities fund actively managed by Direxion. TECS is passively managed, while TSLL is actively managed. Over the past 3 years, TECS returned -59.51%/yr vs -20.90%/yr for TSLL. Their -0.53 correlation means they have often moved in opposite directions in the past. TECS charges 1.01%/yr vs 0.83%/yr for TSLL.
Performance
TECS vs. TSLL - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -55.78% return, which is significantly higher than TSLL's -61.15% 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%
TSLL
- 1D
- 1.39%
- 1M
- -40.57%
- 6M
- -56.61%
- YTD
- -61.15%
- 1Y
- -25.18%
- 3Y*
- -20.90%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -23.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $26.82M | $44.05M | $62.80M | |
| $724.83M | $679.97M | $948.78M |
TECS vs. TSLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -55.78% | -62.44% | -49.76% | -74.45% | 26.70% |
TSLL Direxion Daily TSLA Bull 2X ETF | -61.15% | -26.80% | 99.63% | 139.86% | -74.99% |
Correlation
The correlation between TECS and TSLL is -0.58, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.58 |
Correlation (3Y) Balances recent behavior with more history. | -0.52 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.53 |
The correlation between TECS and TSLL has been stable across timeframes, ranging from -0.58 to -0.52 - a consistent structural relationship.
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Return for Risk
TECS vs. TSLL — Risk / Return Rank
TECS
TSLL
TECS vs. TSLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Direxion Daily TSLA Bull 2X ETF (TSLL). 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 | TSLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.02 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.40 | -0.49 |
| Martin ratioReturn relative to average drawdown | -1.58 | -0.88 | -0.71 |
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Drawdowns
TECS vs. TSLL - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than TSLL's maximum drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for TECS and TSLL.
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Drawdown Indicators
| TECS | TSLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -82.88% | -17.12% |
Max Drawdown (1Y)Largest decline over 1 year | -76.16% | -70.13% | -6.03% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -82.88% | -13.34% |
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% | -80.38% | -19.62% |
Average DrawdownAverage peak-to-trough decline | -96.78% | -54.36% | -42.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.80% | 31.62% | +11.18% |
Volatility
TECS vs. TSLL - Volatility Comparison
The current volatility for Direxion Daily Technology Bear 3X Shares (TECS) is 29.88%, while Direxion Daily TSLA Bull 2X ETF (TSLL) has a volatility of 43.16%. This indicates that TECS experiences smaller price fluctuations and is considered to be less risky than TSLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | TSLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.88% | 43.16% | -13.28% |
Volatility (6M)Calculated over the trailing 6-month period | 65.87% | 70.52% | -4.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.74% | 92.41% | -15.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.85% | 107.78% | -30.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.44% | 107.78% | -34.34% |
TECS vs. TSLL - Expense Ratio Comparison
TECS has a 1.01% expense ratio, which is higher than TSLL's 0.83% expense ratio.
Dividends
TECS vs. TSLL - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 7.33%, less than TSLL's 13.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
TSLL Direxion Daily TSLA Bull 2X ETF | 13.48% | 5.00% | 2.47% | 4.44% | 1.57% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TECS and TSLL have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLL has higher volatility (43.16%) compared to TECS (29.88%). In terms of maximum drawdown, TECS dropped -100.00% vs TSLL's -82.88%.
On 3-year performance, TSLL leads with -20.90% vs -59.51% for TECS. On fees, TSLL is cheaper at 0.83% per year. On volatility, TECS has been the lower-risk option at 29.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLL has performed better with a -20.90% return vs -59.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLL is cheaper with a 0.83% expense ratio, compared with 1.01% for TECS.
TSLL has the higher dividend yield at 13.48%, compared with 7.33% for TECS.
TECS is categorized as Inverse Equities, while TSLL is Leveraged Equities. Their fees differ too: 1.01% for TECS and 0.83% for TSLL.
TSLL currently has the higher Sharpe Ratio (-0.30 vs -0.88), 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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