TECS vs. VOO
TECS (Direxion Daily Technology Bear 3X Shares) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - TECS is a Leveraged Equities fund tracking the Technology Select Sector Index (-300%), while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, TECS returned -62.81%/yr vs 15.77%/yr for VOO. At a correlation of -0.88, they often move in opposite directions. TECS charges 1.08%/yr vs 0.03%/yr for VOO.
Performance
TECS vs. VOO - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -64.19% return, which is significantly lower than VOO's 9.75% return. Over the past 10 years, TECS has underperformed VOO with an annualized return of -62.81%, while VOO has yielded a comparatively higher 15.77% annualized return.
TECS
- 1D
- -1.60%
- 1M
- -22.74%
- YTD
- -64.19%
- 6M
- -63.21%
- 1Y
- -79.86%
- 3Y*
- -64.30%
- 5Y*
- -58.19%
- 10Y*
- -62.81%
VOO
- 1D
- -0.29%
- 1M
- 0.08%
- YTD
- 9.75%
- 6M
- 9.30%
- 1Y
- 26.77%
- 3Y*
- 21.36%
- 5Y*
- 13.58%
- 10Y*
- 15.77%
TECS vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -64.19% | -62.44% | -49.76% | -74.45% | 45.05% | -67.92% | -87.79% | -73.77% | -19.14% | -60.81% |
VOO Vanguard S&P 500 ETF | 9.75% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between TECS and VOO is -0.85, 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 | -0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | -0.88 |
The correlation between TECS and VOO has been stable across timeframes, ranging from -0.91 to -0.85 - a consistent structural relationship.
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Return for Risk
TECS vs. VOO — Risk / Return Rank
TECS
VOO
TECS vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.33 | ||
| Sortino ratioReturn per unit of downside risk | -5.61 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 1.39 | -0.67 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 3.02 | -4.02 |
| Martin ratioReturn relative to average drawdown | -1.83 | 13.58 | -15.41 |
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Drawdowns
TECS vs. VOO - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for TECS and VOO.
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Drawdown Indicators
| TECS | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -33.99% | -66.01% |
Max Drawdown (1Y)Largest decline over 1 year | -79.78% | -8.90% | -70.88% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -18.69% | -77.53% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | -24.52% | -74.30% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -33.99% | -66.01% |
Current DrawdownCurrent decline from peak | -100.00% | -1.74% | -98.26% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -3.68% | -93.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.30% | 1.98% | +43.32% |
Volatility
TECS vs. VOO - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 34.21% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.21% | 4.60% | +29.61% |
Volatility (6M)Calculated over the trailing 6-month period | 57.72% | 9.73% | +47.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.26% | 12.39% | +56.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.47% | 16.90% | +58.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.84% | 18.05% | +54.79% |
TECS vs. VOO - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than VOO's 0.03% expense ratio.
Dividends
TECS vs. VOO - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 10.87%, more than VOO's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | 10.87% | 5.83% | 5.24% | 7.52% | 0.00% | 0.00% | 1.50% | 2.40% | 0.72% | 0.00% | 0.00% | 0.00% |
VOO Vanguard S&P 500 ETF | 1.04% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
TECS and VOO have a correlation of -0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (34.21%) compared to VOO (4.60%). In terms of maximum drawdown, TECS dropped -100.00% vs VOO's -33.99%.
On 10-year performance, VOO leads with 15.77% vs -62.81% for TECS. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOO has performed better with a 15.77% return vs -62.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO is cheaper with a 0.03% expense ratio, compared with 1.08% for TECS.
TECS has the higher dividend yield at 10.87%, compared with 1.04% for VOO.
TECS is categorized as Leveraged Equities, while VOO is S&P 500. TECS tracks Technology Select Sector Index (-300%), while VOO tracks S&P 500 Index. They also come from different issuers: Direxion and Vanguard. Their fees differ too: 1.08% for TECS and 0.03% for VOO.
VOO currently has the higher Sharpe Ratio (2.17 vs -1.16), 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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