TECS vs. TSLQ
TECS (Direxion Daily Technology Bear 3X Shares) and TSLQ (Tradr 2X Short TSLA Daily ETF) are both Inverse Equities funds. TECS is passively managed, while TSLQ is actively managed. Over the past 3 years, TECS returned -59.51%/yr vs -60.20%/yr for TSLQ. Their 0.53 correlation means they have sometimes moved together and sometimes differently. TECS charges 1.01%/yr vs 1.17%/yr for TSLQ.
Performance
TECS vs. TSLQ - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -55.78% return, which is significantly lower than TSLQ's 49.23% 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%
TSLQ
- 1D
- -1.53%
- 1M
- 45.07%
- 6M
- 40.85%
- YTD
- 49.23%
- 1Y
- -46.08%
- 3Y*
- -60.20%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -54.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $26.82M | $44.05M | $62.80M | |
| $162.68M | $148.83M | $161.26M |
TECS vs. TSLQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -55.78% | -62.44% | -49.76% | -74.45% | -14.89% |
TSLQ Tradr 2X Short TSLA Daily ETF | 49.23% | -74.67% | -83.21% | -59.97% | 61.04% |
Correlation
The correlation between TECS and TSLQ is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| 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 Jul 14, 2022 | 0.53 |
The correlation between TECS and TSLQ has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.
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Return for Risk
TECS vs. TSLQ — Risk / Return Rank
TECS
TSLQ
TECS vs. TSLQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Tradr 2X Short TSLA Daily ETF (TSLQ). 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 | TSLQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.97 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.64 | -0.25 |
| Martin ratioReturn relative to average drawdown | -1.58 | -0.79 | -0.79 |
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Drawdowns
TECS vs. TSLQ - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, roughly equal to the maximum TSLQ drawdown of -98.73%. Use the drawdown chart below to compare losses from any high point for TECS and TSLQ.
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Drawdown Indicators
| TECS | TSLQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -98.73% | -1.27% |
Max Drawdown (1Y)Largest decline over 1 year | -76.16% | -69.32% | -6.84% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -97.85% | +1.63% |
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% | -97.78% | -2.22% |
Average DrawdownAverage peak-to-trough decline | -96.78% | -68.42% | -28.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.80% | 55.83% | -13.03% |
Volatility
TECS vs. TSLQ - Volatility Comparison
The current volatility for Direxion Daily Technology Bear 3X Shares (TECS) is 29.88%, while Tradr 2X Short TSLA Daily ETF (TSLQ) has a volatility of 36.98%. This indicates that TECS experiences smaller price fluctuations and is considered to be less risky than TSLQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | TSLQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.88% | 36.98% | -7.10% |
Volatility (6M)Calculated over the trailing 6-month period | 65.87% | 67.32% | -1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.74% | 92.69% | -15.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.85% | 95.64% | -18.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.44% | 95.64% | -22.20% |
TECS vs. TSLQ - Expense Ratio Comparison
TECS has a 1.01% expense ratio, which is lower than TSLQ's 1.17% expense ratio.
Dividends
TECS vs. TSLQ - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 7.33%, more than TSLQ's 7.08% 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% |
TSLQ Tradr 2X Short TSLA Daily ETF | 7.08% | 10.56% | 4.95% | 13.35% | 2.56% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TECS and TSLQ 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.
TSLQ has higher volatility (36.98%) compared to TECS (29.88%). In terms of maximum drawdown, TECS dropped -100.00% vs TSLQ's -98.73%.
On 3-year performance, TECS leads with -59.51% vs -60.20% for TSLQ. On fees, TECS is cheaper at 1.01% 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, TECS has performed better with a -59.51% return vs -60.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECS is cheaper with a 1.01% expense ratio, compared with 1.17% for TSLQ.
TECS has the higher dividend yield at 7.33%, compared with 7.08% for TSLQ.
They also come from different issuers: Direxion and Tradr. Their fees differ too: 1.01% for TECS and 1.17% for TSLQ.
TSLQ currently has the higher Sharpe Ratio (-0.48 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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