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TECS vs. TZA
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

TECS vs. TZA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bear 3X Shares (TECS) and Direxion Daily Small Cap Bear 3X Shares (TZA). The values are adjusted to include any dividend payments, if applicable.

-100.00%-100.00%-100.00%-99.99%-99.99%-99.99%JuneJulyAugustSeptemberOctoberNovember
-99.99%
-100.00%
TECS
TZA

Returns By Period

In the year-to-date period, TECS achieves a -47.73% return, which is significantly lower than TZA's -38.07% return. Over the past 10 years, TECS has underperformed TZA with an annualized return of -56.78%, while TZA has yielded a comparatively higher -40.06% annualized return.


TECS

YTD

-47.73%

1M

0.04%

6M

-29.44%

1Y

-55.07%

5Y (annualized)

-63.83%

10Y (annualized)

-56.78%

TZA

YTD

-38.07%

1M

-4.41%

6M

-29.64%

1Y

-59.16%

5Y (annualized)

-47.57%

10Y (annualized)

-40.06%

Key characteristics


TECSTZA
Sharpe Ratio-0.86-0.91
Sortino Ratio-1.33-1.36
Omega Ratio0.850.84
Calmar Ratio-0.56-0.57
Martin Ratio-1.44-1.40
Ulcer Index38.80%40.92%
Daily Std Dev64.71%63.09%
Max Drawdown-100.00%-100.00%
Current Drawdown-99.99%-100.00%

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TECS vs. TZA - Expense Ratio Comparison

TECS has a 1.08% expense ratio, which is lower than TZA's 1.11% expense ratio.


TZA
Direxion Daily Small Cap Bear 3X Shares
Expense ratio chart for TZA: current value at 1.11% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%1.11%
Expense ratio chart for TECS: current value at 1.08% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%1.08%

Correlation

-0.50.00.51.00.6

The correlation between TECS and TZA is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Risk-Adjusted Performance

TECS vs. TZA - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Direxion Daily Small Cap Bear 3X Shares (TZA). 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.


Sharpe ratio
The chart of Sharpe ratio for TECS, currently valued at -0.86, compared to the broader market0.002.004.006.00-0.86-0.91
The chart of Sortino ratio for TECS, currently valued at -1.33, compared to the broader market-2.000.002.004.006.008.0010.0012.00-1.33-1.36
The chart of Omega ratio for TECS, currently valued at 0.85, compared to the broader market0.501.001.502.002.503.000.850.84
The chart of Calmar ratio for TECS, currently valued at -0.56, compared to the broader market0.005.0010.0015.00-0.56-0.57
The chart of Martin ratio for TECS, currently valued at -1.44, compared to the broader market0.0020.0040.0060.0080.00100.00120.00-1.44-1.40
TECS
TZA

The current TECS Sharpe Ratio is -0.86, which is comparable to the TZA Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of TECS and TZA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio-1.20-1.00-0.80-0.60-0.40JuneJulyAugustSeptemberOctoberNovember
-0.86
-0.91
TECS
TZA

Dividends

TECS vs. TZA - Dividend Comparison

TECS's dividend yield for the trailing twelve months is around 2.17%, less than TZA's 6.09% yield.


TTM202320222021202020192018
TECS
Direxion Daily Technology Bear 3X Shares
2.17%2.14%0.00%0.00%1.49%1.16%0.17%
TZA
Direxion Daily Small Cap Bear 3X Shares
6.09%5.49%0.00%0.00%1.21%1.57%0.63%

Drawdowns

TECS vs. TZA - Drawdown Comparison

The maximum TECS drawdown since its inception was -100.00%, roughly equal to the maximum TZA drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TECS and TZA. For additional features, visit the drawdowns tool.


-100.00%-100.00%-100.00%-99.99%-99.99%-99.99%JuneJulyAugustSeptemberOctoberNovember
-99.99%
-100.00%
TECS
TZA

Volatility

TECS vs. TZA - Volatility Comparison

The current volatility for Direxion Daily Technology Bear 3X Shares (TECS) is 18.51%, while Direxion Daily Small Cap Bear 3X Shares (TZA) has a volatility of 24.81%. This indicates that TECS experiences smaller price fluctuations and is considered to be less risky than TZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


10.00%15.00%20.00%25.00%30.00%35.00%JuneJulyAugustSeptemberOctoberNovember
18.51%
24.81%
TECS
TZA