TECS vs. TSLZ
TECS (Direxion Daily Technology Bear 3X Shares) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. TECS is passively managed, while TSLZ is actively managed. Over the past year, TECS returned -69.62% vs -48.25% for TSLZ. Their 0.52 correlation means they have sometimes moved together and sometimes differently. TECS charges 1.01%/yr vs 1.05%/yr for TSLZ.
Performance
TECS vs. TSLZ - 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 TSLZ's 45.39% 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%
TSLZ
- 1D
- -1.43%
- 1M
- 44.35%
- 6M
- 37.89%
- YTD
- 45.39%
- 1Y
- -48.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -71.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $26.82M | $44.05M | $62.80M | |
| $39.89M | $35.72M | $42.79M |
TECS vs. TSLZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -55.78% | -62.44% | -49.76% | -33.46% |
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF | 45.39% | -75.98% | -88.79% | -24.75% |
Correlation
The correlation between TECS and TSLZ 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 (All Time) Calculated using the full available price history since Oct 19, 2023 | 0.52 |
The correlation between TECS and TSLZ 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. TSLZ — Risk / Return Rank
TECS
TSLZ
TECS vs. TSLZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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 | TSLZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.96 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.67 | -0.22 |
| Martin ratioReturn relative to average drawdown | -1.58 | -0.82 | -0.76 |
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Drawdowns
TECS vs. TSLZ - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, roughly equal to the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for TECS and TSLZ.
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Drawdown Indicators
| TECS | TSLZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.11% | -0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -76.16% | -69.73% | -6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | — | — |
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% | -98.47% | -1.53% |
Average DrawdownAverage peak-to-trough decline | -96.78% | -76.60% | -20.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.80% | 56.63% | -13.83% |
Volatility
TECS vs. TSLZ - Volatility Comparison
The current volatility for Direxion Daily Technology Bear 3X Shares (TECS) is 29.88%, while T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) has a volatility of 37.13%. This indicates that TECS experiences smaller price fluctuations and is considered to be less risky than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | TSLZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.88% | 37.13% | -7.25% |
Volatility (6M)Calculated over the trailing 6-month period | 65.87% | 67.39% | -1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.74% | 91.79% | -15.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.85% | 117.68% | -40.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.44% | 117.68% | -44.24% |
TECS vs. TSLZ - Expense Ratio Comparison
TECS has a 1.01% expense ratio, which is lower than TSLZ's 1.05% expense ratio.
Dividends
TECS vs. TSLZ - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 7.33%, more than TSLZ's 0.47% 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% |
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF | 0.47% | 0.69% | 2.08% | 12.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TECS and TSLZ 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.
TSLZ has higher volatility (37.13%) compared to TECS (29.88%). In terms of maximum drawdown, TECS dropped -100.00% vs TSLZ's -99.11%.
On 1-year performance, TSLZ leads with -48.25% vs -69.62% for TECS. 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 1-year period, TSLZ has performed better with a -48.25% return vs -69.62%. 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 1.05% for TSLZ.
TECS has the higher dividend yield at 7.33%, compared with 0.47% for TSLZ.
They also come from different issuers: Direxion and T-Rex. Their fees differ too: 1.01% for TECS and 1.05% for TSLZ.
TSLZ currently has the higher Sharpe Ratio (-0.51 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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