TECX vs. TECL

Last updated Jul 22, 2026

TECX (Tectonic Therapeutic, Inc) is a stock, while TECL (Direxion Daily Technology Bull 3X Shares) is Leveraged Equities fund tracking the Technology Select Sector Index (300%). Over the past 5 years, TECX returned -18.84%/yr vs 27.69%/yr for TECL. At a 0.26 correlation, their price movements are largely independent.

Performance

TECX vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tectonic Therapeutic, Inc (TECX) and Direxion Daily Technology Bull 3X Shares (TECL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TECX achieves a 57.24% return, which is significantly lower than TECL's 64.40% return.

TECX

• 1D: 2.28%
• 1M: 9.26%
• 6M: 71.73%
• YTD: 57.24%
• 1Y: 49.64%
• 3Y*: 22.97%
• 5Y*: -18.84%
• 10Y*: —
• ALL TIME*: -25.42%

TECL

• 1D: 8.39%
• 1M: -18.41%
• 6M: 73.69%
• YTD: 64.40%
• 1Y: 101.21%
• 3Y*: 55.08%
• 5Y*: 27.69%
• 10Y*: 47.75%
• ALL TIME*: 47.61%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TECX vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TECX Tectonic Therapeutic, Inc	57.24%	-54.82%	182.90%	90.77%	-81.48%	-72.38%	-30.75%	20.90%	-43.08%
TECL Direxion Daily Technology Bull 3X Shares	64.40%	38.60%	36.15%	203.14%	-74.32%	112.80%	69.46%	185.58%	-42.11%

Correlation

The correlation between TECX and TECL is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 21, 2018	0.26

Return for Risk

TECX vs. TECL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TECX

TECX Risk / Return Rank: 68
TECX Sharpe Ratio Rank: 66
TECX Sortino Ratio Rank: 68
TECX Omega Ratio Rank: 69
TECX Calmar Ratio Rank: 69
TECX Martin Ratio Rank: 67

TECL

TECL Risk / Return Rank: 52
TECL Sharpe Ratio Rank: 55
TECL Sortino Ratio Rank: 50
TECL Omega Ratio Rank: 50
TECL Calmar Ratio Rank: 59
TECL Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TECX vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tectonic Therapeutic, Inc (TECX) and Direxion Daily Technology Bull 3X Shares (TECL). 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.

	TECX	TECL	Difference
Sharpe ratio: Return per unit of total volatility	0.61	1.38	-0.77
Sortino ratio: Return per unit of downside risk	1.37	1.88	-0.52
Omega ratio: Gain probability vs. loss probability	1.18	1.24	-0.06
Calmar ratio: Return relative to maximum drawdown	1.12	2.18	-1.07
Martin ratio: Return relative to average drawdown	2.14	5.52	-3.38

TECX vs. TECL - Sharpe Ratio Comparison

The current TECX Sharpe Ratio is 0.61, which is lower than the TECL Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of TECX and TECL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TECX vs. TECL - Drawdown Comparison

The maximum TECX drawdown since its inception was -98.90%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for TECX and TECL.

Drawdown Indicators

	TECX	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-98.90%	-77.96%	-20.94%
Max Drawdown (1Y) Largest decline over 1 year	-44.62%	-46.58%	+1.96%
Max Drawdown (3Y) Largest decline over 3 years	-73.25%	-66.58%	-6.67%
Max Drawdown (5Y) Largest decline over 5 years	-92.59%	-77.96%	-14.63%
Max Drawdown (10Y) Largest decline over 10 years	—	-77.96%	—
Current Drawdown Current decline from peak	-94.81%	-29.39%	-65.42%
Average Drawdown Average peak-to-trough decline	-83.46%	-18.41%	-65.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.31%	18.40%	+4.91%

Volatility

TECX vs. TECL - Volatility Comparison

The current volatility for Tectonic Therapeutic, Inc (TECX) is 22.63%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 28.60%. This indicates that TECX experiences smaller price fluctuations and is considered to be less risky than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TECX	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.63%	28.60%	-5.97%
Volatility (6M) Calculated over the trailing 6-month period	53.21%	63.52%	-10.31%
Volatility (1Y) Calculated over the trailing 1-year period	81.50%	73.71%	+7.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	108.54%	76.16%	+32.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	102.14%	73.33%	+28.81%

Dividends

TECX vs. TECL - Dividend Comparison

TECX has not paid dividends to shareholders, while TECL's dividend yield for the trailing twelve months is around 4.33%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TECL Direxion Daily Technology Bull 3X Shares	4.33%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%
TECX Tectonic Therapeutic, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TECX and TECL in my portfolio?

TECX and TECL have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TECX or TECL?

TECL has higher volatility (28.60%) compared to TECX (22.63%). In terms of maximum drawdown, TECX dropped -98.90% vs TECL's -77.96%.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (1.38 vs 0.61), 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.