TECS vs. XTJL
TECS (Direxion Daily Technology Bear 3X Shares) and XTJL (Innovator U.S. Equity Accelerated Plus ETF - July) are both Leveraged Equities funds. TECS is passively managed, while XTJL is actively managed. Over the past 5 years, TECS returned -55.35%/yr vs 9.83%/yr for XTJL. At a correlation of -0.84, they often move in opposite directions. TECS charges 1.08%/yr vs 0.79%/yr for XTJL.
Performance
TECS vs. XTJL - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -56.17% return, which is significantly lower than XTJL's 5.97% return.
TECS
- 1D
- 6.95%
- 1M
- 11.35%
- 6M
- -54.81%
- YTD
- -56.17%
- 1Y
- -69.26%
- 3Y*
- -59.70%
- 5Y*
- -55.35%
- 10Y*
- -61.22%
XTJL
- 1D
- -0.42%
- 1M
- 0.38%
- 6M
- 5.24%
- YTD
- 5.97%
- 1Y
- 13.86%
- 3Y*
- 14.08%
- 5Y*
- 9.83%
- 10Y*
- —
TECS vs. XTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -56.17% | -62.44% | -49.76% | -74.45% | 45.05% | -45.37% |
XTJL Innovator U.S. Equity Accelerated Plus ETF - July | 5.97% | 15.42% | 14.43% | 25.72% | -15.66% | 7.81% |
Correlation
The correlation between TECS and XTJL is -0.74, 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 | -0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.84 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | -0.84 |
The correlation between TECS and XTJL has been stable across timeframes, ranging from -0.84 to -0.74 - a consistent structural relationship.
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Return for Risk
TECS vs. XTJL — Risk / Return Rank
TECS
XTJL
TECS vs. XTJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) and Innovator U.S. Equity Accelerated Plus ETF - July (XTJL). 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 | XTJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.56 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.41 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 2.72 | -3.63 |
| Martin ratioReturn relative to average drawdown | -1.72 | 15.38 | -17.10 |
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Drawdowns
TECS vs. XTJL - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than XTJL's maximum drawdown of -23.24%. Use the drawdown chart below to compare losses from any high point for TECS and XTJL.
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Drawdown Indicators
| TECS | XTJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -23.24% | -76.76% |
Max Drawdown (1Y)Largest decline over 1 year | -76.16% | -5.12% | -71.04% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -16.70% | -79.52% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | -23.24% | -75.58% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.42% | -99.58% |
Average DrawdownAverage peak-to-trough decline | -96.77% | -3.95% | -92.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.31% | 0.90% | +39.41% |
Volatility
TECS vs. XTJL - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 29.37% compared to Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) at 1.39%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than XTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | XTJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.37% | 1.39% | +27.98% |
Volatility (6M)Calculated over the trailing 6-month period | 62.76% | 5.73% | +57.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.64% | 7.40% | +66.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.34% | 15.10% | +61.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.12% | 15.05% | +58.07% |
TECS vs. XTJL - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than XTJL's 0.79% expense ratio.
Dividends
TECS vs. XTJL - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 7.39%, while XTJL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | 7.39% | 5.83% | 5.24% | 7.52% | 0.00% | 0.00% | 1.50% | 2.40% | 0.72% |
XTJL Innovator U.S. Equity Accelerated Plus ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TECS and XTJL have a correlation of -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (29.37%) compared to XTJL (1.39%). In terms of maximum drawdown, TECS dropped -100.00% vs XTJL's -23.24%.
On 5-year performance, XTJL leads with 9.83% vs -55.35% for TECS. On fees, XTJL is cheaper at 0.79% per year. On volatility, XTJL has been the lower-risk option at 1.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XTJL has performed better with a 9.83% return vs -55.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTJL is cheaper with a 0.79% expense ratio, compared with 1.08% for TECS.
TECS has the higher dividend yield at 7.39%, compared with 0.00% for XTJL.
They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.08% for TECS and 0.79% for XTJL.
XTJL currently has the higher Sharpe Ratio (1.88 vs -0.94), 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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